Malaysian express firm targets strong growth under new management
Malaysian parcels company GD Express (GDEX), one of the largest independent players in the country’s expanding express market, is targeting strong growth in 2008 under a new CEO.
With effect from January 1, Teong Teck Lean resigned as chief executive officer, paving the way for his former deputy chief executive Leong Chee Tong to assume the position. This was part of the company’s succession plan, GDEX said in a statement. Teong will remain deputy chairman and oversee group strategy.
GDEX will expand parcel handling capacity at its head office substantially later this year with the implementation of a new integrated hub management system (IHMS) that will take daily capacity to 60,000 items from 25,000 at present, the locally-based newspaper The Edge reported. The company will also add 30 more vehicles.
Leong was cited as saying that GDEX aims to broaden its services into logistics as companies started to outsource more operations.
Outgoing CEO Teong noted that competition was intensifying due to price competition, rising costs and higher customer expectations. GDEX did not exclude acquisitions in order to grow its business as the industry consolidated, he added.
