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Century Logistics Holdings Berhad through its subsidiary, Century Logistics
Sdn Bhd has set up operation in Thailand to widen its regional market
outreach.
The new entity, Century Logistics (Thailand) Limited will allow century
logistics to expand its logistics and supply chain management services into
the Thai market.
Century Logistics Sdn Bhd had on 16 January 2006 purchased 22,000 shares in
Century Logistics (Thailand) Limited from Mr. Prasit Rungnapha, a Thai
national for a purchase consideration of Baht 2.2 million.
With the acquisition, CLSB will hold 120,000 shares, representing 60 per
cent stake in CLT.
CLT was incorporated on 30 March 2004 in Thailand.
Presently, the registered share capital of CLT is Baht 20 million comprising
of 200,000 shares of Baht 100 each and the issued and paid-up share capital
is Baht 20 million comprising of 200,000 shares of Baht 100 each.
CLT is principally engaged in the business of total logistics and supply
chain management services.
Meanwhile, Century Logistics Holdings Berhad which listed on the main board
of Bursa Malaysia posted revenue and net profit of RM33.396 million and
RM674,000 respectively in the third quarter of 2005, compared to revenue and
net profit of RM22.695 million and RM413,000 respectively for the
corresponding period in the previous financial year.
The increase in revenue by 47 per cent was mainly due to the expansion of
supply chain management services to both new and existing customers as well
as the increase in number of vessels serviced by the group's ship to ship
transfer operation.
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