Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.66 |
Showing posts with label CENTURY. Show all posts
Showing posts with label CENTURY. Show all posts
August 16, 2013
May 17, 2013
MIDF raises Century Logistics' traget price
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
MIDF Research raised its target price on Century Logistics Holdings Bhd to RM1.82 from RM1.70 even after the company's first-quarter earnings came in below market expectations.
"We opine that the logistics business may recover in the second half of 2013 as overall manufacturing activities are set to pick up again," the research house said in a research note on Friday.
Maintaining a 'neutral' call on the stock, MIDF said another two distribution centres by Century Logistics with a total size of 400,000 sq ft will be ready by this quarter and may contribute RM8-RM9 million additional rental income to the company nnually.
"We expect the warehouse business to help fill in the earnings void left by the downsizing of its oil and gas transportation segment," it added.
Century Logistics reported a lower-than-expected 3.4 per cent year-on-year rise in net profit at RM4.45 million for the quarter ended March, mainly due to reduced activities in the company's oil and gas logistics and contract business.
The counter dropped 1.76 per cent to RM1.67 at 10.04am, underperforming the benchmark stock index's 0.28 per cent rise.-- Reuters
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 1.82 |
MIDF Research raised its target price on Century Logistics Holdings Bhd to RM1.82 from RM1.70 even after the company's first-quarter earnings came in below market expectations.
"We opine that the logistics business may recover in the second half of 2013 as overall manufacturing activities are set to pick up again," the research house said in a research note on Friday.
Maintaining a 'neutral' call on the stock, MIDF said another two distribution centres by Century Logistics with a total size of 400,000 sq ft will be ready by this quarter and may contribute RM8-RM9 million additional rental income to the company nnually.
"We expect the warehouse business to help fill in the earnings void left by the downsizing of its oil and gas transportation segment," it added.
Century Logistics reported a lower-than-expected 3.4 per cent year-on-year rise in net profit at RM4.45 million for the quarter ended March, mainly due to reduced activities in the company's oil and gas logistics and contract business.
The counter dropped 1.76 per cent to RM1.67 at 10.04am, underperforming the benchmark stock index's 0.28 per cent rise.-- Reuters
November 9, 2012
Earnings bottoming out
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.96 |
August 10, 2012
2Q/FY12 results - generally below expectations. Maintain Hold Call.
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MERCURY | Price Call: HOLD | Target Price: 1.90 |
Earnings dragged by STS operations
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.72 |
May 11, 2012
Century Logistics cut to 'underperform'
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
RHB Research lowered its call on Malaysia's Century Logistics Holdings Bhd to "underperform" from "outperform" after the logistics services company announced weaker than expected 1Q12 earnings.
In a research note on Friday, RHB said Century's first quarter net profit of RM4.3 million (US$1.40 million) came in below expectations, accounting for 13.8 percent of consensus full-year estimates.
"We believe earnings risks have risen and we downgrade the stock to underperform (from outperform)," RHB said.
RHB said the weaker earnings were partly due to start-up losses and lower-than-expected contribution from the ship-to-ship (STS) segment.
"The ongoing strike by container haulage drivers had indirectly hampered its total logistics segment," RHB added. RHB cut its fair value estimates to 1.63 ringgit per share from 2.09 ringgit. -- Reuters
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: RHB | Price Call: SELL | Target Price: 1.63 |
RHB Research lowered its call on Malaysia's Century Logistics Holdings Bhd to "underperform" from "outperform" after the logistics services company announced weaker than expected 1Q12 earnings.
In a research note on Friday, RHB said Century's first quarter net profit of RM4.3 million (US$1.40 million) came in below expectations, accounting for 13.8 percent of consensus full-year estimates.
"We believe earnings risks have risen and we downgrade the stock to underperform (from outperform)," RHB said.
RHB said the weaker earnings were partly due to start-up losses and lower-than-expected contribution from the ship-to-ship (STS) segment.
"The ongoing strike by container haulage drivers had indirectly hampered its total logistics segment," RHB added. RHB cut its fair value estimates to 1.63 ringgit per share from 2.09 ringgit. -- Reuters
March 29, 2012
CENTURY (FV RM1.94 - NEUTRAL) Corporate News Flash: Looking for More Warehouses
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: OSK | Price Call: HOLD | Target Price: 1.94 |
THE BUZZ
Century Logistics (CLH) entered into a Sale & PurchaseAgreement (S&P) with Nakamichi SB yesterday to buy apiece of leasehold land in Klang, consisting of a double-storey factory andoffice buildings for a total sum of RM19m.
OUR TAKE
Hungry for morewarehouses. We are not surprised with this acquisition since CLH has been looking for warehouses in strategic locations in its efforts to expand its warehousing and contractlogistics business. As the group's present 7 warehouses with total capacity of840k sq ft space is 96% full, we think the price of this newly-purchased pieceof 26.93 sq ft leasehold land (expiring in 30 June2105) ' which comes with a double-storey factory and officebuildings - is fair and reasonable as itwill enable the group to take its contract logistics business a step further.With a strong clientele base comprising names like Celcom and F&N, we thinkthe group's contract logistics business should continue to see robust growth,which we expect would chalk up a healthyy-o-y 8% growth in FY12.
No change inforecast; CAPEX well within projections.As the acquisition is well within our CAPEX projection, we are maintaining ourforecast at this juncture. While we believe that CLH's contract logisticsbusiness will cruise through without a hitch, we are still only cautiously optimistic on the group's core Oil & Gas logistics' segment, which experienced an interruption in bunker fuel services in 4QFY11.During that quarter, CLH was asked by the Ministry of Transport's MarineDepartment to suspend the services of four out of eight of its floating andstorage units (FSUs) in Pasir Gudang from Sept-Nov 2011 due to works on the RM5bn deepwater terminal by Dialog Group (BUY, FV RM3.07) inPengerang, Johor. As a result, the group's 4Q earnings slid 29% during the quarter. Meanwhile, management has guided that two of its FSUs have resumed operation in new locations,and that it is also finalizing the strategic areas for the remaining 2 FSUs. As such, we believe thegroup's 1QFY12 results would still bear the impact of weaker performance in this division. That said, we maintain our NUETRAL stance fornow, with an unchanged FV of RM1.94, based on 6x FY12 EPS.
Source: OSK188
February 24, 2012
Let Down by O&G Logistics
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: OSK | Price Call: HOLD | Target Price: 1.94 |
August 17, 2011
2Q/FY11 results. Within expectations. Maintain Buy Call.
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MERCURY | Price Call: BUY | Target Price: 2.60 |
Strong 2Q rebound for Century Logistics
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Century Logistics Holdings Bhd
(Aug 17, RM1.74)
Maintain buy at RM1.70 with revised target price of RM2 (from RM2.32): Century Logistics posted a strong rebound in its 2QFY11 earnings, growing 12.8% year-on-year (y-o-y) to RM8.5 million, reversing the 4.6% y-o-y decline in 1QFY11. This resulted in a 4.7% y-o-y increase in 1HFY11 net profit due to an improved performance in the total logistics services. Century's 1HFY11 net profit of RM14.8 million was within our expectations at 46.6% but below consensus, coming in at 44.6% of full-year estimates.
For 1HFY11, Century registered revenue growth of 5.5% y-o-y to RM120.5 million in total logistics services. Management indicated that contract logistics played a key part in the growth with the securing of notable customers such as Fraser & Neave Holdings Bhd and Celcom Bhd. We understand contract logistics contributes approximately 42% to total revenue. We expect revenue growth to continue as management increases its efforts to secure new logistics accounts.
The 1HFY11 revenue decline of 1.7% y-o-y to RM20.5 million in the procurement logistics business was due to lower export shipments. We are not overly concerned by the decline as we understand that management is exploring other high growth regional destinations, where it might emulate its Syrian business model. We believe that the Indian subcontinent such as Sri Lanka and Bangladesh could be possible locations.
We like the fact that Century continues to develop its contract logistics model. We believe contract logistics will moderate any negative impact from any slowdown in its other business units. The length of a'' logistics contract for a given customer is usually 2+1 years or 3+1 years.
Management indicated that it is also looking to grow its oil and gas logistics. Currently, O&G logistics provide stable revenue for Century. However, we do not expect any impact in FY11 or FY12. Hence, we are maintaining our FY11 and FY12 earnings.
We maintain our 'buy' recommendation for Century as it continues to deliver the results. Growth will be supported mainly by the contract logistics business. Century announced an interim dividend of five sen or 28% payout from 1HFY11 earnings. We forecast a dividend yield of 4.1% for FY11. Rolling over our valuation to FY12, our adjusted target price is derived by pegging our FY12 earnings per share to a price-earnings ratio of 5.1 times based on a 10% discount to its five-year average PER. While we are expecting Century's growth to continue in FY12, we are applying a discount to the PER due to uncertain market conditions that might affect stock valuations. ' MIDF Research, Aug 17
This article appeared in The Edge Financial Daily, August 18, 2011.
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.00 |
Century Logistics Holdings Bhd
(Aug 17, RM1.74)
Maintain buy at RM1.70 with revised target price of RM2 (from RM2.32): Century Logistics posted a strong rebound in its 2QFY11 earnings, growing 12.8% year-on-year (y-o-y) to RM8.5 million, reversing the 4.6% y-o-y decline in 1QFY11. This resulted in a 4.7% y-o-y increase in 1HFY11 net profit due to an improved performance in the total logistics services. Century's 1HFY11 net profit of RM14.8 million was within our expectations at 46.6% but below consensus, coming in at 44.6% of full-year estimates.
For 1HFY11, Century registered revenue growth of 5.5% y-o-y to RM120.5 million in total logistics services. Management indicated that contract logistics played a key part in the growth with the securing of notable customers such as Fraser & Neave Holdings Bhd and Celcom Bhd. We understand contract logistics contributes approximately 42% to total revenue. We expect revenue growth to continue as management increases its efforts to secure new logistics accounts.
The 1HFY11 revenue decline of 1.7% y-o-y to RM20.5 million in the procurement logistics business was due to lower export shipments. We are not overly concerned by the decline as we understand that management is exploring other high growth regional destinations, where it might emulate its Syrian business model. We believe that the Indian subcontinent such as Sri Lanka and Bangladesh could be possible locations.
We like the fact that Century continues to develop its contract logistics model. We believe contract logistics will moderate any negative impact from any slowdown in its other business units. The length of a'' logistics contract for a given customer is usually 2+1 years or 3+1 years.
Management indicated that it is also looking to grow its oil and gas logistics. Currently, O&G logistics provide stable revenue for Century. However, we do not expect any impact in FY11 or FY12. Hence, we are maintaining our FY11 and FY12 earnings.
We maintain our 'buy' recommendation for Century as it continues to deliver the results. Growth will be supported mainly by the contract logistics business. Century announced an interim dividend of five sen or 28% payout from 1HFY11 earnings. We forecast a dividend yield of 4.1% for FY11. Rolling over our valuation to FY12, our adjusted target price is derived by pegging our FY12 earnings per share to a price-earnings ratio of 5.1 times based on a 10% discount to its five-year average PER. While we are expecting Century's growth to continue in FY12, we are applying a discount to the PER due to uncertain market conditions that might affect stock valuations. ' MIDF Research, Aug 17
This article appeared in The Edge Financial Daily, August 18, 2011.
May 16, 2011
CENTURY - Century Logistics' top up, bottom down
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: OSK
Century Logistics Holdings Bhd
(May 13, RM1.96)
Maintain buy at RM1.99 with target price of RM2.43: Century Logistics (CLH) posted earnings of RM6.4 million (year-on-year [y-o-y]: - 2.5%, quarter-on-quarter [q-o-q]: -23.4%) on the back of RM66.8 million in revenue. Revenue accounted for 19% of our full-year estimates, given the seasonally weaker quarter due to the low number of working days.
We consider these commendable results, noting that the remaining three quarters will be strong on new contracts.
CLH has just started another two major logistics contracts last month, which according to management have contributed substantial revenue to the group for this segment.
CLH's oil and gas logistics segment also continues to see buoyant growth and demand for its bunkering services remains solid and resilient despite the hike in oil prices.
CLH's bottom line was down by 23.4% q-o-q and 2.5% y-o-y falling short of our and consensus views by 20% and 16% if annualised. Earnings before interest and tax (Ebit) margin was down by 2.5 percentage points q-o-q.
We consider this in line due to the seasonally lower 1Q net profit owing to lower number of working days.
Furthermore, the much lower bottom line is also due to the higher tax charges for the quarter given that its Incentive Tax Allowance tenure has ended. Note that CLH's tax rate for the previous quarter was much lower owing to the non-taxable gain from the group's sale of property.
We continue to like CLH and expect numbers to remain strong going forward. Apart from its strong and steady growth in its oil logistics, we expect its contract logistics business to grow credibly and to secure more contracts from multinational companies such as F&B players and some large electrical and electronic companies. We are optimistic that CLH will continue to do well. Management has also guided that this segment will remain one of the company's key growth areas in the future.
We maintain our earnings forecast for now and reiterate our 'buy' call on CLH with fair value at RM2.43 based on 5.1 times FY11 earnings per share. CLH has also guided that it will declare a dividend payout ratio of 20% to 25% for the full-year. ' OSK Research, May 13
This article appeared in The Edge Financial Daily, May 16, 2011.
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: OSK
Century Logistics Holdings Bhd
(May 13, RM1.96)
Maintain buy at RM1.99 with target price of RM2.43: Century Logistics (CLH) posted earnings of RM6.4 million (year-on-year [y-o-y]: - 2.5%, quarter-on-quarter [q-o-q]: -23.4%) on the back of RM66.8 million in revenue. Revenue accounted for 19% of our full-year estimates, given the seasonally weaker quarter due to the low number of working days.
We consider these commendable results, noting that the remaining three quarters will be strong on new contracts.
CLH has just started another two major logistics contracts last month, which according to management have contributed substantial revenue to the group for this segment.
CLH's oil and gas logistics segment also continues to see buoyant growth and demand for its bunkering services remains solid and resilient despite the hike in oil prices.
CLH's bottom line was down by 23.4% q-o-q and 2.5% y-o-y falling short of our and consensus views by 20% and 16% if annualised. Earnings before interest and tax (Ebit) margin was down by 2.5 percentage points q-o-q.
We consider this in line due to the seasonally lower 1Q net profit owing to lower number of working days.
Furthermore, the much lower bottom line is also due to the higher tax charges for the quarter given that its Incentive Tax Allowance tenure has ended. Note that CLH's tax rate for the previous quarter was much lower owing to the non-taxable gain from the group's sale of property.
We continue to like CLH and expect numbers to remain strong going forward. Apart from its strong and steady growth in its oil logistics, we expect its contract logistics business to grow credibly and to secure more contracts from multinational companies such as F&B players and some large electrical and electronic companies. We are optimistic that CLH will continue to do well. Management has also guided that this segment will remain one of the company's key growth areas in the future.
We maintain our earnings forecast for now and reiterate our 'buy' call on CLH with fair value at RM2.43 based on 5.1 times FY11 earnings per share. CLH has also guided that it will declare a dividend payout ratio of 20% to 25% for the full-year. ' OSK Research, May 13
This article appeared in The Edge Financial Daily, May 16, 2011.
May 13, 2011
CENTURY - OSK maintains 'buy' on Century Logistics
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: OSK
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: OSK
OSK Research is maintaining Century Logistics Holdings Berhad's earnings forecast for now and recommended a "buy" call with a fair value unchanged at RM2.43.
The research firm was optimistic Century Logistics would continue to do well and that this segment would remain a key growth business in future.
The company forecast a turnover of RM338.2 million for the current financial year ending Dec 31, 2011 and RM405.6 million for the 2012 financial year.
Pre-tax profit for the current financial year was estimated at RM38.7 million and RM43.8 million for next year.
"Apart from its strong and steady growth in its oil logistics, we expect the contract logistics business to grow credibly and to secure more contracts from multinational companies, such as food and beverages players and some large electrical and electronic companies," said OSK.
The company's pre-tax profit for the first quarter ended March 31, 2011, increased 5.1 per cent to RM8 million, from RM7.6 million, registered in the same quarter last year.
Revenue rose to RM66.8 million versus RM59.8 million chalked up previously. - Bernama
The research firm was optimistic Century Logistics would continue to do well and that this segment would remain a key growth business in future.
The company forecast a turnover of RM338.2 million for the current financial year ending Dec 31, 2011 and RM405.6 million for the 2012 financial year.
Pre-tax profit for the current financial year was estimated at RM38.7 million and RM43.8 million for next year.
"Apart from its strong and steady growth in its oil logistics, we expect the contract logistics business to grow credibly and to secure more contracts from multinational companies, such as food and beverages players and some large electrical and electronic companies," said OSK.
The company's pre-tax profit for the first quarter ended March 31, 2011, increased 5.1 per cent to RM8 million, from RM7.6 million, registered in the same quarter last year.
Revenue rose to RM66.8 million versus RM59.8 million chalked up previously. - Bernama
March 23, 2011
CENTURY - Century Logistics riding on improving trade
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: RHB
Century Logistics Holdings Bhd
(March 23, RM1.90)
Initiate coverage at RM1.85 with outperform call and fair value RM2.70: Leading integrated solutions provider Century Logistics Holdings (CL) provides a wide range of services through its subsidiaries, including international freight forwarding (sea, land and air), warehousing, inventory management, procurement and assembly services. The company also provides ship-to-ship (STS) transfer for the oil and gas industry.
Malaysia's external trade is expected to remain healthy going forward. RHB Research's economics team expects exports and imports to grow 10% and 11.6% respectively in 2011, underpinned by resilient economic growth. Given that 85% to 90% of CL's business caters for the domestic market, rising import activity could translate into higher demand for distribution services. Hence, we believe rising trade will be positive for the company.
CL stands out from its peers by providing STS transfer for both fuel and crude oil, which are carried out mid-sea. CL operates floating storage units (FSU) which are converted from very large crude carriers (VLCC) with an average of 280,000 deadweight tonnes. These FSU are used for blending, storage and offloading of oil to various sized vessels (ranging from VLCCs to barges) off the Port of Tanjung Pelepas and Pasir Gudang, Johor.
Risks include the non renewal of its STS operating licence and a weaker than expected economic recovery.
We forecast FY11/13 net profit compound annual growth rate of 19.3%, driven mainly by: (i) resilient demand for freight forwarding, distribution and warehousing services on the back of rising trade activity; (ii) higher value-added services from assembly business as it gains traction in new markets and products; and (iii) stronger contribution from STS services driven by strong demand for fuel and crude oil, especially from emerging markets such as China and Vietnam.
We like CL given its: (i) attractive business model of total integrated logistics solutions that continues to attract more outsourcing of logistics services; and (ii) diversified earnings base which should provide earnings growth. We have pegged a target price-earnings ratio of 10 times to the stock as we believe CL deserves a premium to its peers' weighted average given its stronger earnings growth, diversified business model, higher net profit margins and higher return on equity. We estimate a fair value of RM2.70 per share (based on FY11 FD earnings per share). We initiate coverage on CL with an 'outperform' recommendation. ' RHB Research, March 23
This article appeared in The Edge Financial Daily, March 24, 2011.
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: RHB
Century Logistics Holdings Bhd
(March 23, RM1.90)
Initiate coverage at RM1.85 with outperform call and fair value RM2.70: Leading integrated solutions provider Century Logistics Holdings (CL) provides a wide range of services through its subsidiaries, including international freight forwarding (sea, land and air), warehousing, inventory management, procurement and assembly services. The company also provides ship-to-ship (STS) transfer for the oil and gas industry.
Malaysia's external trade is expected to remain healthy going forward. RHB Research's economics team expects exports and imports to grow 10% and 11.6% respectively in 2011, underpinned by resilient economic growth. Given that 85% to 90% of CL's business caters for the domestic market, rising import activity could translate into higher demand for distribution services. Hence, we believe rising trade will be positive for the company.
CL stands out from its peers by providing STS transfer for both fuel and crude oil, which are carried out mid-sea. CL operates floating storage units (FSU) which are converted from very large crude carriers (VLCC) with an average of 280,000 deadweight tonnes. These FSU are used for blending, storage and offloading of oil to various sized vessels (ranging from VLCCs to barges) off the Port of Tanjung Pelepas and Pasir Gudang, Johor.
Risks include the non renewal of its STS operating licence and a weaker than expected economic recovery.
We forecast FY11/13 net profit compound annual growth rate of 19.3%, driven mainly by: (i) resilient demand for freight forwarding, distribution and warehousing services on the back of rising trade activity; (ii) higher value-added services from assembly business as it gains traction in new markets and products; and (iii) stronger contribution from STS services driven by strong demand for fuel and crude oil, especially from emerging markets such as China and Vietnam.
We like CL given its: (i) attractive business model of total integrated logistics solutions that continues to attract more outsourcing of logistics services; and (ii) diversified earnings base which should provide earnings growth. We have pegged a target price-earnings ratio of 10 times to the stock as we believe CL deserves a premium to its peers' weighted average given its stronger earnings growth, diversified business model, higher net profit margins and higher return on equity. We estimate a fair value of RM2.70 per share (based on FY11 FD earnings per share). We initiate coverage on CL with an 'outperform' recommendation. ' RHB Research, March 23
This article appeared in The Edge Financial Daily, March 24, 2011.
February 28, 2011
CENTURY - OSK maintains 'buy' call on Century Logistics
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: OSK
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Research House: OSK
OSK Research has maintained a "buy" call on Century Logistics Holdings Bhd with an upgraded target price to RM2.43 from RM2.24, as it expects the company to continue securing more major long-term contracts in future.
In a note today, OSK said Century Logistics had indicated that its oil logistics division is still growing steadily, with clients' demand for its bunkering services remaining stable despite the current hike in oil price.
It said Century Logistics had evolved into a specialist contract logistics provider following the recent logistics contract inked with F&N to manage its entire logistics chain from inbound dairy raw materials to outbound finished dairy products.
"We believe that it will generate between RM20 million to RM30 million of revenue per annum. "We expect the numbers to remain strong going forward, given the constant growth in its oil logistics," it said. -- Bernama
In a note today, OSK said Century Logistics had indicated that its oil logistics division is still growing steadily, with clients' demand for its bunkering services remaining stable despite the current hike in oil price.
It said Century Logistics had evolved into a specialist contract logistics provider following the recent logistics contract inked with F&N to manage its entire logistics chain from inbound dairy raw materials to outbound finished dairy products.
"We believe that it will generate between RM20 million to RM30 million of revenue per annum. "We expect the numbers to remain strong going forward, given the constant growth in its oil logistics," it said. -- Bernama
Subscribe to:
Posts (Atom)