Tag: TNT

Hungarian TNT unit to spend EUR 2.7 m on developments in 2007

Posted by | May 23, 2007 | |

The Hungarian unit of TNT, a global mail and express delivery services group, plans developments worth HUF 673 million (EUR 2.7 m) in 2007 in Hungary, considerably more than last year.

TNT Express Worldwide Hungary Ltd. intends to spend HUF 290 million on a new airport base they hope to open already this year.

In 2006, the company pumped HUF 369 m into development projects, mostly on the expansion of their Budapest facility to 1,950 square metres from 1,300 sqm, mfor.hu has reported on Wednesday.

The company claims to have posted revenue growth much larger than the industry average last year, but did not provide details. It noted, however, that the government’s austerity measures had their negative impact felt in the second half of 2006.

Last year, the company increased its vehicle fleet by 8% yr/yr and invested considerably into IT upgrades, as well.

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Dutch stamp price regulation set to become law

Posted by | May 22, 2007 | |

A proposal to regulate stamp prices of Dutch mail company TNT, which analysts have said could hurt the company’s stock market valuation — is set to become law, a member of parliament said on Monday.

Nicolien van Vroonhoven-Kok, a member of Prime Minister Jan Peter Balkenende’s Christian Democrat party, told Reuters the contents of a rule to regulate stamp prices had been agreed.

There might still be some minor tweaks to the language of the law, said Van Vroonhoven-Kok, who is responsible for postal liberalisation.

Asked whether regulators would have the power to lower TNT’s stamp price from the current 0.44 euros for standard mail, she said: “As far as we’re concerned, that’s possible. But I don’t expect it to happen.”

The proposal would set prices for the “universal service” — which includes delivery of letters and parcels and represents a significant part of TNT’s revenue — based on costs and a “reasonable return” initially, with increases in line with inflation in following years.

Such a rule could hurt TNT’s valuation by as much as 10 percent, according to Bear Stearns.

Van Vroonhoven-Kok said the economy ministry and parliamentarians were still discussing other aspects of the country’s new postal law, which is meant to end TNT’s remaining monopoly of letters up to 50 grams, or roughly half of the 2 billion euro Dutch mail market.

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Christopher Bain appointed to tackle TNT Malaysia growth

Posted by | May 17, 2007 | |

TNT Express Malaysia has announced the appointment of Christopher Bain as general manager of the northern region.

Bain will be responsible for the research and development of strategic business growth opportunities in north Malaysia.

The announcement is in line with TNT’s growth strategy for north Malaysia, which has also seen the company investing USD 2.36 million, solely in this region to build facilities such as the 22,000 sq ft TNT Global Express Centre in Penang.

Northern Malaysia houses a large concentration of electrical and electronic manufacturing companies which alone, generates USD 6.5 billion, or 46.8 percent of the country’s total export revenue in January 2007, making the region a key focus in TNT’s growth plans.

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