13 February 2019
Triple i Logistics PLC. (iii), Thailand’s leading integrated logistics operator, announced to buy a 50% stake in Around Logistics Management Company Limited in Hong Kong for over 500 million baht to strengthen its air freight business and also expand its partnership with airlines in providing service to cover destination in 24 nations worldwide. It expects total sales in 2019 would grow over 20%.Triple i Logistics PLC. (iii), Thailand’s leading integrated logistics operator, announced to buy a 50% stake in Around Logistics Management Company Limited in Hong Kong for over 500 million baht to strengthen its air freight business and also expand its partnership with airlines in providing service to cover destination in 24 nations worldwide. It expects total sales in 2019 would grow over 20%.
Mr. Tipp Dalal, CEO of Triple i Logistics PLC. (iii), said the company’s board meeting has approved a deal to purchase a 50% stake in Around Logistics Management Company Limited in Hong Kong. It has bought 125,000 shares, or making up 50% of the common shares to be issued and allocated of Around Logistics. To do so, the company has used its fund raised from IPO, cash flow from operation and borrowed from financial institutions to spend on the purchase, with the aim to increase its business value in air freight business. Especially General Sales Agent (GSA), it is aimed at driving its growth, boosting its competitiveness and strengthening its business after acquiring DGP in Singapore and a 14.95 stake in SAL Group (Thailand) Company Limited early this year.
Around Logistics Management Company Limited and its subsidiaries are trade partner with Triple i Logistics for more than a decade to operate business as a general sales agent of freight with airlines specializing in Asian region with offices in Thailand, Singapore, Hong Kong and Vietnam. Currently, it is an agent for more than 22 airlines such as All Nippon Airways, Vietnam Airlines, Hong Kong Airlines and leading airlines with destination covering in 24 nations across Asia, North America and Europe.
Mr. Tipp said buying shares in Around Logistics Management will help strengthen the company’s strategy in the competitive market. Benefit gains from the acquisition is as follows:
“This investment is a crucial step for the company’s strategy in partnership with our network in order to add its business value in the company’s air freight service to cover different nations across Asia truly. Sales and profit the company will receive will in part lead the company to achieve its sales target as expected, thanks to organic growth from major business and inorganic growth from acquisition. Currently, the firm has boosted our competitiveness and created differentiation over rivals in order to secure our sustainable growth. For 2019, Triple i Logistics expect its sales would grow more than 20%,’’ Mr. Tipp said.
About Triple i Logistics (iii)Triple i Logistics is the logistics provider in four areas, including air freight, sea freight and inland transport, logistics management and chemical & specialty logistics, to serve various Thai, international and public clients.