Dimerco Express Group (中菲行國際物流), which offers global freight-forwarding and logistics services, has edged into the Asia-Pacific region with a joint venture in Cambodia and various wholly owned subsidiaries in Australia.
The group said yesterday that it launched Straits Continental Logistics Co, a joint venture with its partner Straits International Pte Ltd in Cambodia, on Tuesday last week.
Dimerco Express holds a 19.9 percent stake in the joint venture.
“With the formation of the ASEAN free-trade zone to be completed in the near term, Dimerco sees potential growth in the southeastern Asian market,” the group said in a statement.
The container volume in Cambodia might show an annual expansion of 10 percent following the strong momentum in its economy the statement said.
Dimerco Express has also set up three wholly owned subsidiaries in Sydney, Melbourne and Brisbane, Australia.
The development plan in the two markets is part of the group’s globalization plan — unveiled by chief executive officer Edward Lin (林天送) — to raise consolidated sales from US$467 million last year to US$600 million this year.
Dimerco Express posted NT$7.52 billion (US$250.32 million) in consolidated revenue in the first half of the year, up 11.13 percent from the same period last year, according to the company’s filing with the Taiwan Stock Exchange.
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