Tag: Asia

14th ASEAN Post Meeting in Manila

Posted by | Jun 30, 2007 | |

As agreed during the 13th ASEAN Postal Business Meeting held in Yangoon, Myanmar, the Postmaster General and CEO of the Postal Administration of the Philippines, Honorable Hector R.R. Villanueva, confirmed that they will host the 14th ASEANPost on September 4 to 6, 2007 in the Philippines. Villanueva organized a Steering Committee to manage the preparations for the ASEANPost.

The Chairman of the Steering Committee is Assistant Postmaster General for Operations, Atty. Antonio Z. de Guzman. He is assisted by the other APMGs of PhilPost: APMG for Finance Elizabeth C. Tungol; APMG for Administration Mama S. Lalanto, Al Haj; APMG for Marketing Luis D. Carlos and APMG for Information Technology Conrado S. Legaspi, Jr.

The Board of Directors of PhilPost led by its Chairman, Honorable Franco L. Loyola, supports the top management in the preparations for the meeting.

The meeting will be held at Hotel InterContinental located in the premier financial center of the Philippines, Makati City.

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DHL completes strategic partnership transaction with Polar Air Cargo

Posted by | Jun 29, 2007 | |

DHL announced that it has successfully completed the transaction to form a strategic partnership with Polar Air Cargo Worldwide, Inc., a wholly owned unit of Atlas Air Worldwide Holdings, Inc. (AAWW), a leading provider of global air cargo services. As part of this transaction, DHL Express will invest USD 150 million for a 49 pct stake and 25 pct of voting rights in Polar Air Cargo Worldwide.

The transaction includes a commercial arrangement that gives DHL Express guaranteed access to Polar Air Cargo’s aircraft capacity in key global markets over a period of 20 years, with a potential revenue stream to the AAWW companies of US$3.5 billion. In addition, DHL Express will have access to additional available aircraft capacity from Atlas Air, Inc., another subsidiary of AAWW, as agreed between the parties. The long-term access and greater capacity will significantly improve service to DHL Express’ customers who ship goods between Asia Pacific and the US – reducing transit times and increasing reliability of delivery on the trans-Pacific air routes. The investment in Polar signals another major commitment to the US market and represents a major milestone in DHL’s strategy to provide a compelling alternative in the US domestic express delivery market.

Asia Pacific is going through a period of intense growth, fuelled by several growth drivers including the burgeoning economies of China and India. The trade flow for the trans-Pacific routes has been growing steadily in recent years. According to Boeing’s World Air Cargo Forecast 2006/2007, Asia-US trade is forecasted to expand at an annual average of 7.1 percent, compared to 6.9 percent for Asia-Europe. The overall share of world air trade connected to Asia’s markets, including the domestic markets of China and Japan and the international markets, is expected to increase from 50.8 percent in 2005 to 63.3 percent in 2025.

Polar Air Cargo will continue to operate as an independent company and there will be no integration with DHL or any of its business units.

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UPS selling Sinotrans stake for HKD 462.5m

Posted by | Jun 28, 2007 | |

United Parcel Service has offered to sell its entire stake in Sinotrans for as much as HKD 462.48 million, further cutting its ties with the mainland courier service provider after buying out their express delivery joint venture in 2005.

UPS was selling 124.65 million Sinotrans shares at between HKD 3.56 and HKD 3.71 each, a 2 per cent to 6 per cent discount to the stock’s closing price of HKD 3.79 yesterday, according to a term sheet sent to fund managers.

The shares represent 7 per cent of the Beijing company’s issued H shares or 2.9 per cent of its total issued share capital. Citigroup was the sale arranger.

UPS, one of the world’s leading package delivery companies, bought the stake when Sinotrans went public in February 2003.

The two companies parted ways in 2005 when UPS paid USD 100 million to buy Sinotrans’ 50 per cent stake in their venture after Beijing opened the market to foreign firms under its World Trade Organisation accession commitments.

Sinotrans also has a venture with Deutsche Post, the parent company of DHL, which raised its stake in the mainland firm to 13.3 per cent from 11.3 per cent in December 2005.

The company formed an express airline joint venture this year with Korean Air Lines, the world’s largest international air cargo carrier, to tap the mainland’s growing exports.

Sinotrans, the listed flagship of state-owned China National Foreign Trade Transportation (Group), saw its net profit drop 28 per cent to 618.8 million yuan last year due to declining freight rates.

Shares of Sinotrans fell 3.81 per cent yesterday, closing at HKD 3.79. The stock had surged 22 per cent over the past three months on speculation its parent would inject more assets into the firm and eventually list the entire group.

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FedEx Domestic Time-Definite Service takes off in China

Posted by | Jun 28, 2007 | |

FedEx Express has now made its iconic next-business-day service available to customers throughout China. Since FedEx began its next-business-day service on 28 May, coverage has expanded from 19 to more than 30 cities, while 48-hour day-definite service is offered in more than 200 cities and counties. As a result of increasing customer demand, the number of cities being served continues to expand rapidly.

“Businesses in China have been waiting for FedEx to make this time-definite service available,” said David L. Cunningham, Jr., president, Asia Pacific, FedEx Express. “We have seen healthy and encouraging demand from our existing international customers and potential new customers. Since we began operations less than a month ago, thousands of domestic express packages have already passed through our hub in Hangzhou.”

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