Yamato announces tie-up with Malaysia’s GDEX

Japan-based Yamato has announced that is buying shares in Malaysia’s GD Express Carrier (GDEX) and the two companies will work together to pool their parcel delivery resources. In a statement issued yesterday (21 January), Yamato said that was taking a 9.1% stake in GDEX and it “has the intention to acquire additional shares of GDEX for up to a total shareholding of 23% in the future”.

With regard to the “business alliance”, Yamato commented: “GDEX is a Malaysian logistic company listed in the KLSE with the second largest market share in the parcel delivery service industry. The company has established a nation-wide network for parcel delivery services in Malaysia, and achieved the highest profit margin in the industry. The company also managed to achieve significant growth in the B to B parcel delivery sector, having achieved huge growth compared to the other industry players.

“Yamato Holdings has a subsidiary in Malaysia, Yamato Transport (M) Sdn Bhd (YTM) which is also offering parcel delivery services “TA-Q-BIN” in Malaysia. In addition, YTM also offers chilled and frozen parcel delivery services “Cool TA-Q-BIN” and Cash-On-Delivery (COD) services “TA-Q-BIN Collect” in Malaysia. Its business is also achieving smooth growth in the country.

“Going forward, GDEX and Yamato Holdings believe that a stronger partnership formed via business collaboration and capital alliance will enable both parties to capitalize on each other’s strengths, and together expand to become the leading delivery company in Malaysia”.

Yamato added that it also expected that the two companies will be able to work together on cross border logistics between Malaysia and Singapore,