Tag: Asia

Japan SESC to Probe Japan Post

Posted by | Jan 23, 2007 | |

Japan’s Securities and Exchange Surveillance Commission will launch its first-ever investigation into Japan Post on Feb. 5 to mainly examine the corporation’s sales practices for investment trust funds, informed sources said Tuesday. Japan Post began selling such funds in October 2005. The products are now sold at 1,155 post offices nationwide, up sharply from the initial 575 offices.

As of the end of last December, the balance of funds sold by the to-be-privatized governmental body stood at 561.6 billion yen, matching a level achieved by a major regional bank.

The SESC has informed Japan Post of its planned investigation. The commission will recommend administrative penalties if it discovers any serious irregularities.

Separately, the Financial Services Agency last November started investigations into Japan Post to examine the corporation’s risk management system.

Japan Post will be broken up into four firms, including the “Yucho” bank and the “Kampo” insurer, as part of a 10-year privatization process starting in October this year.

The two institutions will emerge as the largest players in the Japanese banking and insurance industries.

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Fedex upgrades India-focus

Posted by | Jan 23, 2007 | |

FedEx Corp has last month upgraded India from a country within a region to a full region in its own right.

Earlier, Fedex had five regions, each with its own vice president. These regions were US, Canada, EMEA (Europe, Middle East, and Africa), Latin America- Caribbean (LAC) and Asia-Pacific (APAC). India came under EMEA and had Jacques Creeten as its managing director reporting to his vice president in Brussels, Belgium.

Since December 2006, however, in recognition of the importance of the role of the India market in the Fedex world, India has been split from the EMEA region and made into a separate region altogether- the sixth in Fedex.

Consequently, Jacques Creeten, A Belgian national who has been in India for the past eight years heading Fedex operations here as MD, became vice-president, India operations. This change enables speeds up decisions regarding India operations, rather than referring everything back to Brussels. India will still however liaise with Brussels even after this change.
Fedex has gained from the rapid rise in exports/imports of tools, machine parts, pharma, textiles, garments, and electronics. It has also moved fast to augment capacity: today 16 Fedex flights touch India mainly on the route Europe-Delhi/Mumbai-Subic Bay-US and vice versa.

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TNT Express Worldwide (Thailand) eyes 20 percent revenue growth

Posted by | Jan 18, 2007 | |

TNT Express Worldwide (Thailand) Co projects revenue to grow by 10 percent to 20 percent this year thanks to its domestic network expansion.
Marketing and commercial manager Ekkapong Na Ranong said TNT Express planned to increase its distribution depots in Thailand to 28 locations this year from 25 locations at present. However, the budget for setting up new depots was not finalised yet.

In addition, the company has launched a guaranteed express service in Thailand since Jan 1 that allows customers to send shipments weighing up to 500 kilogrammes for delivery before 9 am the next day.

The launch of the new service is possible because of the extensive network that TNT Express has built in Thailand over the last several years.

According to David Record, TNT Thailand’s country manager, the company has a presence in all major towns so it can provide a variety of products and services that enable customers to operate their businesses more efficiently.

Customers who choose the new service would pay 500 baht plus ordinary charges for TNT’s normal service, said Mr Record.

TNT planned to employ new service staff to operate the new service in Thailand, which requires longer working hours. The company also aimed to extend its Asia Road Network to China this year, he said.

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India Post gets tech savvy to take on competition

Posted by | Jan 18, 2007 | |

John Samuel, general manager, business development & marketing directorate, Department of Post (DoP), believes that the time has come for India Post to take the DHLs, Blue Darts and DTDCs of the express mail industry head on. And he banks on technology investments to turn the tables in India Post’s favour in this battle. The postal department is investing Rs 1,400 crore in technologies such as RFID, web-based customer response systems, and even mobile phones for the postman.

The department has put forward the proposal to the Planning commission recently for consideration in the 11th Five-Year Plan. The plan document highlights the need for India Post to invest in technology so as to provide its customers with high quality services. India Post believes that this will give it an edge over its competitors and help increase its customer base.

The investment for the technological upgradation will be allocated out of the ‘planned fund’. Says Mr Samuel: “World over, leading post offices such as United States Postal Service (USPS), Royal Mail and Deutsche Post have reformed themselves by investing hugely in cutting edge technology. And so are we.”

The DoP has also identified three core services for heavy investment in the years to come — parcels, financial services and logistics.

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DHL to invest USD 35 million in Hong Kong

Posted by | Jan 18, 2007 | |

DHL announced a USD 35 million investment program in Hong Kong to capitalize on the continued growth of the region’s trade. The program comprises the opening of a new facility in South Kowloon which will enhance DHL Express’ ground handling capacity by about 20%, as well as a large-scale office relocation plan to further strengthen operational synergy.
Scott Price, Chief Executive Officer – Asia Pacific, DHL Express, said: “We are very pleased to celebrate the beginning of 2007 with this exciting expansion plan. DHL Express Hong Kong ended 2006 with double-digit growth, clearly benefiting from the strength of China’s growth and the dynamism of other economies in the region. This is the 5th consecutive year that DHL has recorded double-digit growth in Hong Kong. The investment program brings us close to USD 1 billion in our commitment to the Greater China area to position us for the opportunities which abound in this region.”
This investment program lifts DHL’s total investment in Hong Kong to USD645 million, which includes the USD 210 million Central Asia SuperHub, investment in Air Hong Kong, service centers and office facilities. Hong Kong’s position as the centerpiece of DHL’s hub-and-spoke network has been further cemented by the Company’s USD 400 million investment in Air Hong Kong, a joint venture with Cathay Pacific, which feeds cargo from around Asia Pacific into Hong Kong for consolidation and transit purposes.

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