Tag: Asia

Malaysian express firm targets strong growth under new management

Posted by | Jan 23, 2008 | |

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.

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Japan PB resumes remittance service to Iran

Posted by | Jan 22, 2008 | |

Japan Post Bank announced here on Tuesday that it will continue remittance service to Iran, despite the gossips heard regarding the suspension of services to Iran.

Dispatching the remittances services will be continued until Aug. 2008, according to the contract between the sides and the bylaw of the Universal Postal Union (UPU) and the guidelines of the Postal Financial Services Group (PFSG) which was coordinated on Aug. 9, 1999.

The reason the bank cited about the formerly news of suspension was the US sanctions against Iranian banks from October 25. Japan Post Bank said that intermediary banks in the chain to its Iran transfers were unable to continue dealing with the three largest state-run Iranian banks, as a result of these sanctions.

This was an unusual move for Japan, which has maintained cordial relations with Iran after the Islamic Revolution in 1979. Though numbers are disputed, a large number of Iranians are reported to live in Japan. The number of remittances to Iran processed by the Post Bank was around 200 annually, with a value of around USD 450,000.

Japan Post Bank will disperse risks and diversify earnings sources, by diversifying means of investments (into trading of derivatives, acquisition and sales of monetary credits, syndicated loans, securitized products, beneficiary rights, and investments in stocks), while controlling interest rates-associated risks appropriately and will strengthen channels of post office networks, by providing its infrastructure and sales support tools, improve the compliance system, help improve quality and enhance training programs.

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SingPost and BNI offer new remittance service to Indonesia at post offices island-wide

Posted by | Jan 22, 2008 | |

Singapore Post Limited (SingPost) and PT Bank Negara Indonesia (Persero) Tbk (BNI) announced that they will offer a new remittance service to Indonesia at 51 designated SingPost branches (post offices).

CASHOME is a fast, convenient, yet secure remittance service that allows the sender to remit money into a recipient’s bank account maintained with BNI in Indonesia. A fast remittance transfer time is in store for customers as funds remitted by the sender through the post office before 3pm will be received by the recipient on the same day.
Funds remitted after 3pm will be received by the recipient on the next business day. The money will be credited directly to the recipient’s bank account maintained by BNI.

Customers can use their NETS card or cash to remit funds to their recipients who can access the funds at BNI’s wide network of over 970 branches and close to 20,000 ATMs across Indonesia. They will also enjoy the convenience of using the CASHOME card for the initial and subsequent transactions. A CASHOME card is an identification card for customers to use to remit money to their recipient, saving them the hassle of filling out forms each time they need to remit money. A one-time registration of the CASHOME card is required only.

As SingPost is committed to safeguarding customers’ personal information and privacy,
customers can enjoy peace of mind in knowing that their funds are in safe hands when they remit money with Singapore’s public postal licensee.

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DHL increases air network capacity for Manila & Hong Kong

Posted by | Jan 21, 2008 | |

DHL has further strengthened its Asia Air Network by increasing the uplift capacity for its dedicated Manila and Hong Kong air service to meet growing cargo demand.

The enhanced dedicated service, operated by an Air Hong Kong B727-200 freighter, provides a cargo capacity of 24 tons, up from 19 tons previously. The flight frequency has also been increased from four to five times a week. This represents a total payload capacity of 240 tons or a 58 percent (88 tons) increase in payload capacity for the service. Air Hong Kong is a 60/40 joint venture between Cathay Pacific and DHL.

According to the Economist Intelligence Unit, exports from the Philippines to China grew by an average of 43.8 percent between 2000 and 2005, while imports from China to the Philippines grew by an average of 30.5 percent in the same period. As a consequence, cargo volumes between Manila and Hong Kong are anticipated to rise significantly.

DHL’s Asia Air Network currently comprises more than 30 destinations in 16 countries and territories, served by over 20 aircraft in dedicated air operations. This allows major Asia Pacific cities and other business centers to be interconnected through DHL’s regional hubs and gateways, providing DHL’s customers with overnight services across the region.

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Emirates Post plans USD 408m Asia acquisitions

Posted by | Jan 20, 2008 | |

Emirates Post, the state-owned UAE monopoly postal service, said it is in talks to spend as much as 1.5 billion dirhams (USD 408.4 million) on acquisitions in Asia, including Malaysia and Singapore.

“We want to expand our network of distribution, which is why we are interested in Asia because … it completes our market,” the chairman of Emirates Post, Abdulla al-Daboos, told Reuters in Dubai on Sunday on the sidelines of a meeting with reporters.

“Our investment will be between 1 billion and 1.5 billion dirhams over five years on acquisitions in Asian companies in postal and financial services,” Daboos said.

Daboos did not identify any target companies. Other countries include Thailand and Indonesia, he said.

Empost plans to sell as much as a 40 percent stake in an initial public offering in the second-half, valuing the company at not less than 3 billion dirhams, al-Khaleej and Emirates Business reported this month, citing Daboos and Sultan al-Mansouri, Minister of Governmental Sector Development

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