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Wednesday, March 22, 2017

Century Logistics Holdings Bhd

Friday, 9 September 2016
CJ is largest shareholder of Century
Share Price RM1.03

The Star
KUALA LUMPUR: Century Logistics Holdings Bhd will see South Korea-based CJ Korea Express Asia Pte Ltd emerging as its single largest shareholder after it bought a 31.44% stake in the former.
There will be a change in Century Logistics' majority shareholder when founder Datuk Phua Sin Mo and shareholders Datin Lee Lay Hun, Pamela Phua Jo Lyn and Chai Mee Young entered into a conditional sale and purchase agreement with CJ to dispose of their combined 31.44% stake amounting to 120.5 million shares for RM1.45 per share.

This confirmed a StarBiz report yesterday of the stake sale by Century Logistics main shareholders.
CJ vice-president for the strategy planning division, Ahn Jaeho, said that Century Logistics would be able to leverage on CJ's strengths including its technology systems and solutions.
"We can also leverage on Century Logistics' strong local customer base. We are now operating a parcel delivery service but it is still in its infancy.
"As we see e-commerce growing, we would like to focus on parcel delivery," Jaeho said after the signing ceremony.
"We would like to strengthen and expand the parcel delivery service to become a major player in Malaysia," he added.

In a statement, CJ said it would introduce its advanced technology, engineering, system and solution and know-how to Century Logistics to enable it to expand into the e-commerce and parcel delivery segments.

"The integration of CJ's Asean network with Century Logistics' network in Malaysia will complete the first step in CJ's aspiration to be come the regional logistics leader," it said.

CJ also planned to leverage on the facilities and infrastructure of Century Logistics in its core regions such as the Klang Valley and Johor, as well as the freight forwarding activities in the main ports to remain competitive.

"CJ and Century Logistics shall integrate their logistics and administrative activities, resulting in a larger network and more cost-efficient operation. CJ and Century Logistics are expected to benefit through the sharing of key logistics hubs and networks, cross-selling and new business opportunities," it said.

CJ is a unit of public-listed CJ Korea Express Corp, which is the biggest logistics provider in South Korea.
CJ Korea Express has a market capitalisation of US$4.1bil and a revenue of US$4.6bil for its financial year ended Dec 31, 2015.

Century Logistics' stock closed 7.5 sen lower on active trading yesterday to 96.5 sen after CJ failed to extend the offer to minority shareholders. The premium at which CJ acquired the stake was 40.5% above yesterday's closing price of RM1.03.
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PULSE by Maeil Business News Korea
CJ Korea Express signs overseas delivery contract with Lazada
2016.09.20 16:35:52 | 2016.09.20 16:36:30

CJ Korea Express Corp., South Korea's largest parcel delivery service company, said Tuesday that it inked an international delivery service contract with Southeast Asian online retailer Lazada Group SA, which operates in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. 
Under the deal, CJ Korea Express would be in charge of delivery of goods made in Korea that customers buy in the regional markets via Lazada's website. Those customers are estimated to reach more than 560 million. Before the deal, the Korean courier service company delivered parcels -as many as 700,000 boxes - to Lazada's customers in Singapore, Thailand and Indonesia from China in the first half of this year. It saw high growth potential in Southeast Asia during the business, the company said. 

High popularity of Hallyu, or Korean wave, and K-Pop music has contributed to a surge in sales of Korean products overseas. The outlook is even brighter as more Korean manufacturers are ready to jump on the bandwagon. 

CJ Korea Express plans to meet customer satisfaction with its state-of-the-art logistics operation based on technology, engineering and system and solution (TES). 
CEO Park Geun-tae said that the firm will help Korean customers and economy by bridging the gap between Korean manufacturers and overseas consumers. 

CJ Korea Express early this month bought a controlling stake in the largest logistics firm in Malaysia to expand its presence in Southeast Asia. The firm aims to become one of the global top five logistics firms by 2020, Park said. He added revenue would quadruple to 27 trillion won ($24.9 billion) by then through additional business acquisition deals.
By Park Eun-jin

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