Tag: Asia

Top Korean express firm up for sale

Posted by | Oct 28, 2007 | |

Korea Express, one of the leading express firms in South Korea, could gain a new owner within the next few months. A deal could reportedly be worth as much as EUR 1.4 billion.

The company, which has been in financial receivership since 2000 due to heavy debts, said it has gained court permission for a major capital increase enabling it to issue new shares representing an overall 60 pct holding.

Reuters news agency, giving the company’s market valuation as 1.6 trillion won (EUR 1.1 billion) reported that analysts said the sale could raise up to two trillion won (EUR 1.4 billion). It cited a spokesman as saying the shares would be issued once a buyer had been found.

Korean newspaper Hankyoreh said potential buyers had until December 11 to submit bids and could carry out due diligence until January 4. A preferred bidder would be selected in mid-January and a deal sealed in late February. The sale is being handled by a Merrill Lynch-led consortium.

The company’s major shareholders include Goldman Sachs, Korean financial institutes and shipping firm STX. Media speculation focused on Korean companies as the likely bidders.

Korea Express offers a broad range of freight transport and logistics services, including domestic parcel delivery.

Read More

FedEx Kinko's Opening 2 More Stores in China

Posted by | Oct 26, 2007 | |

FedEx Kinko’s under the wing of the global express delivery giant FedEx announced on October 24 the establishment of two new stores in Shanghai, Eastern China.

The number of its stores in China has been driven up to 17 now. Another nine stores are scheduled to start service before June 2008 in order to meet the increasing needs of small and midsize corporate customers, James Brigance, vice president responsible for FedEx Kinko’s operations in Asia Pacific, disclosed in an interview.

FedEx Kinko’s has been mainly engaged in the provision of package/envelope and office/print services since it marched into the world’s fastest growing economy in 1997.

Previously, it cast its eye mostly to multinationals, acknowledged the vice president. But its target customers have gradually changed with a spate of small and midsize companies in the country.

Currently, FedEx Kinko’s is focusing on small and midsize companies, whose demand is on the surge these days, the vice president noted.

UPS has also attached great importance to small and midsize corporate users. As early as last August, it set up two UPS Express stores in the Far Eastern metropolis of Shanghai, the first of their kind in China.

The stores, with a simplified delivery procedure, have reportedly offered a full range of shipping options for international shipments, including UPS worldwide express plus, UPS worldwide express, UPS 10-kg box delivery services, and UPS 25-kg box delivery services, in addition to professional consulting services.

Read More

“DHL Express Logistics Strategy Seminar” addresses trends in global logistics centering on Japan-U.S. trade lane

Posted by | Oct 26, 2007 | |

DHL hosted customers from a broad selection of industries at the “DHL Express Logistics Strategy Seminar”, where they participated in a series of lively discussions on the current and future trends for global logistics, with a focus on trade between Japan and the United States.

Demand for sophisticated logistics strategies is on the rise among businesses pursuing growth in the increasingly competitive global marketplace. The “DHL Express Logistics Strategy Seminar” featured a keynote speech by famed management consultant Kenichi Ohmae, who discussed critical logistics solutions for companies seeking a sharper competitive edge, especially in the United States, which continues to be one of Japan’s most important trading partners.

The seminar also featured experts from logistics magazine publisher discussing the logistics challenges facing key industries in Japan, and they presented case studies on the impact of strategic logistics solutions provided by DHL Japan on the Japan-U.S. trade lane.

In recent years, DHL has been reinforcing its infrastructure in the U.S. market, investing USD 1.2 billion in upgrades such as the opening of new air and ground hubs and expanding existing facilities. In June this year, DHL also reached an agreement on a strategic partnership with Polar Air Cargo Worldwide, a wholly-owned subsidiary of global air cargo services provider Atlas Air Worldwide Holdings (AAWW).

Read More

FedEx cuts China domestic express rates in half

Posted by | Oct 25, 2007 | |

FedEx has cut its domestic express delivery charges in China by half from October 15, Xinhua reported.

After the price reduction which is applicable to Beijing, Shanghai, Guangzhou, Shenzhen and Dongguan, FedEx’s rates are lowered to the same level as the state-owned China Post’s EMS service (Express Mail Service).

For example, the charge for FedEx’s next morning delivery from Beijing to Shanghai which used to be CNY135.00 (USD17.97) is now CNY60.

The starting price for EMS’ next morning delivery is CNY 60. At present, most of the private express providers in China are not able to offer time-definite service, the report added.

Read More

Emirates Post, India Post in tie-up to offer money transfer

Posted by | Oct 25, 2007 | |

UAE’s Emirates Post and India Post have inked a Memorandum of Understanding (MoU) to enable UAE residents to transfer money to India through India Post’s vast postal network.

The MoU was signed recently in New Delhi by Salem Al Shaya, Assistant Director General, Operations, Emirates Post and Faiz-Ur-Rehman, Director General of India Post, during a recent visit of an Emirates Post delegation.

The move is aimed at helping UAE residents send money to their relatives by using the secure UPU-approved IFS system that will ensure delivery of money to every corner of India at reasonable rates. India has a network of 155,333 post offices, the largest in the world, covering the remotest corners of the country.

An India Post delegation will be visiting UAE next month to view Emirates Post’s facilities and arrangements, including IT systems, before implementing the system, said a press release.

Both sides expressed satisfaction at the level of cooperation between India and the UAE, and identified new areas, including parcels, Mumtaz and the Mail Transit hub in Dubai, to take the cooperation to the next level. The Emirates Post delegation included Saif Al Shehhi, Operation Director, and Nasser Qadoumi, consultant, postal services.

“The UAE and India has always had friendly relations in all fields, including postal areas,” said Salem Al Shaya. “As we have a large number of Indian customers, our efforts are focused on introducing better and more attractive products for them. This MoU is a significant development that will benefit hundreds of thousands of people in the India.”

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

How ready do you feel for the de minimis changes coming in July?

Thank you for voting
You have already voted on this poll!
Please select an option!




View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest