Tag: Asia

TNT terminates Sinotrans JV

Posted by | May 29, 2003 | |

Netherlands-based logistics and courier firm TNT Holdings BV has recently terminated its joint venture with Sinotrans Ltd, China’s largest freight forwarder, a TNT China official surnamed Yang said. He said TNT will form a new China-based joint venture with Mach++ Express Worldwide Ltd. Yang declined to provide further information about TNT Skypak-Sinotrans Ltd, TNT’s 15-year 50:50 joint venture with Sinotrans. Sinotrans officials were not immediately available for comment.

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China Post targets H1 revenue of 26.4 BLN Yuan, up 6.73% yr on yr

Posted by | May 22, 2003 | |

China State Post Bureau (China Post) is aiming to record 26.4 bln yuan in revenue for the first half of this year, up 6.73 pct year-on-year and representing 48 pct of the full-year revenue target, the China Economic Times reported, citing Liu Andong, a China Post director.

The newspaper said China Post plans to increase its registered logistics subsidiaries to 20 in the first half, and further strengthen its cooperation with foreign partners, including Japan’s Mitsui & Co Ltd.

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Japan's post office to cut 17,000 jobs over next two years

Posted by | May 20, 2003 | |

Japan’s recently reorganized post office will cut about 17,000 jobs, or 6 percent of its total work force, over the next two years, an official said Tuesday. Japan Post will reduce its headcount to 263,000 from 280,000 by the end of March 2005 as part of a business plan to be formally announced Wednesday, said spokeswoman Takumi Niwa. Niwa declined to give details ahead of the announcement.

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Japan Post to send 45 staff to foreign firms for training

Posted by | May 20, 2003 | |

Japan Post plans to send 45 employees to internationally acclaimed corporations in the fields of mail, parcel and cargo delivery and financial services during a four-year period starting this fall, Japan Post officials said Tuesday. Japan Post is now asking such firms as FedEx Corp., Merrill Lynch & Co., both of the United States, ING Bank of the Netherlands, and Deutsche Bank and Deutsche Post of Germany to accept trainees from Japan, the officials said.

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SingPost full year net proftis up 7.2

Posted by | May 19, 2003 | |

Newly-listed Singapore Post has posted a 7.2 percent rise in full-year net profit to S$108.7 million and said it expects the business outlook to remain steady, although SARS and the weak economy could cause companies to curb promotional activity. The rise came despite a 2.1 percent fall in operating revenue to S$373 million for the year to March.

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