Abstract
The Covid-19 pandemic has disrupted global maritime business especially maritime transportation. It has disrupted the services of transportation of cargoes using ocean vessels and directly the performance of the many businesses. The Malaysian maritime business performance has also been affected from such condition. Many of these maritime shipping companies are struggling to maintain their business financial and operations during the pandemic period. The research is intended to evaluate the financial performance of Malaysian maritime business companies during the pandemic period and rank these Malaysian maritime business companies performance during the same period. The financial report from three Malaysian maritime business companies listed in the Bursa Malaysia involved in ocean transportation has been selected for evaluation of ratios. The study was conducted by using five financial ratios to evaluate these business financial performances consisting of liquidity, profitability, activity, leverage, and return on investment. The technique for order preference by similarity to ideal solution (TOPSIS) method was being utilized to rank the performance of these maritime business. Such evaluation is able to identify which maritime businesses company is able to perform especially during a global shock period such as the Covid-19 pandemic, and the approach is able to evaluate if these maritime businesses are able to survive. The result found indicates that MISC is the shipping company which is the best performer, while Maybulk is the lowest performer during the Covid-19 pandemic. This research is able to provide insights in Malaysian maritime and how they are managing their operations and finances in ensuring their survival during a challenging period.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Diab MT, Haelssig JB et al (2020) The behavior of wood crib fires under free burning and fire whirl conditions. Fire Saf J 112:102941
Leng CY (2021). Shipping disruption and freight rates in the wake of COVID-19. The impact of COVID-19 pandemic on Malaysian maritime sectors and way forward MIMA 44
Menhat MN, Zaideen IM et al (2021) The impact of Covid-19 pandemic: a review on maritime sectors in Malaysia. Ocean Coast Manag 105638
Yazir D, Şahin B et al (2020) Effects of COVID-19 on maritime industry: a review. Int Marit Health 71(4):253–326
Doumbia HC (2020) Shipping and COVID-19: protecting seafarers as frontline workers. WMU J Marit Aff 19(3):279–293
Kumar S, Jolly A (2021) Consequences of COVID-19 pandemic on global maritime trade industry. Int Marit Health 72(1):82–83
Manoj KN, Dash A (2017) Internet of things: an opportunity for transportation and logistics. In: Proceedings of the international conference on inventive computing and informatics (ICICI 2017), 23rd, pp 194–197
Battineni G, Kumar S et al (2021) COVID-19 vaccine on board ships: current and future implications of seafarers. Int Marit Health 72(1):76–77
Richards G, Yeoh W et al (2019) Business intelligence effectiveness and corporate performance management: an empirical analysis. J Comput Inf Syst 59(2):188–196
Zizlavsky O (2014) The balanced scorecard: innovative performance measurement and management control system. J Technol Manag Innov 9(3):210–222
Tang J, Pee LG, Iijima J (2013) Investigating the effects of business process orientation on organizational innovation performance. Int J Inf Manag 50(8):650–660
Avci OB, Ozcelik F (2014) Financial performance evaluation of firm in BIST chemical petroleum plastic sector by using multi-criteria decision making method. J Soc Policy 34–62
Kannan D, de Sousa Jabbour ABL et al (2014) Selecting green suppliers based on GSCM practices: Using Fuzzy TOPSIS and applied to a Brazilian electronic company. Eur J Oper Res 432–427
Wang TC, Hsu JC (2004) Evaluation of business performance of listing companies by applying TOPSIS method. IEEE Int Conf Syst Man Cybern 1286–1291
Wang TC, Chang JF (2010) Applying TOPSIS method to evaluate the business operation performance of Vietnam listing securities companies. Comput Soc Netw 273–277
Hussain J, Zhou K et al (2020) Investment risk and natural resources potential in Belt and Road Initiative countries: a multi-criteria decision-making approach. Sci Total Environ 1–3
Abd RZH, Azhar FW et al (2020) Application of TOPSIS analysis method in financial performance evaluation: a case study of construction sector in Malaysia. Int J Bus Res 6(1):1–9
Asiedu E, Lien D (2011) Democracy, foreign direct investment and natural resources. Int J Prod Econ 84(1):99–111
Endri E, Susanti D et al (2020) Financial performance evaluation: empirical evidence of pharmaceutical companies in Indonesia. Syst Rev Pharm 803–816
Bulgurcu BK (2012) Application of TOPSIS technique for financial performance evaluation of technology firms in Istanbul stock exchange market. Procedia Soc Behav Sci 62:1033–1040
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Din, M.A.b., Dahalan, W.M., Shamsuddin, S.A. (2022). Performance Evaluation of Malaysian Maritime Business Companies During Covid-19 with TOPSIS. In: Ismail, A., Dahalan, W.M., Öchsner, A. (eds) Advanced Maritime Technologies and Applications. Advanced Structured Materials, vol 166. Springer, Cham. https://doi.org/10.1007/978-3-030-89992-9_3
Download citation
DOI: https://doi.org/10.1007/978-3-030-89992-9_3
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-89991-2
Online ISBN: 978-3-030-89992-9
eBook Packages: EngineeringEngineering (R0)