THI Global Holdings Corp (台驊國際投資控股) is aiming high after marking 30 years in business yesterday.
The freight-forwarder and logistics operator headquartered in Taipei is looking to achieve annual consolidated sales of NT$10 billion (US$323.73 million) next year as well as raise the number of its global bases from 70 to 100 in five years, focusing particularly on markets in Southeast Asia.
In the first 10 months of the year, THI Global Holdings’ consolidated sales totaled NT$7.82 billion, an increase of 13.54 percent over the same period last year, its statistics showed.
“It will not be a problem [to reach NT$10 billion sales mark next year],” THI chairman David Yen (顏益財) told reporters before the company’s 30th anniversary celebration in Shanghai.
Yen is upbeat about the firm’s outlook, saying a new subsidiary in Singapore is to be launched by the end of this year and one in Malaysia is due to open next year.
Southeast Asia has become the major market it targets for the future, THI Global Holdings spokeswoman Echo Wan (萬心寧) said.
“ASEAN countries have seen strong trade momentum after structural changes in China’s economy, which might bolster shipping demand in the region,” Wan said.
THI Global Holdings is determined to accelerate its expansion in Southeast Asia, with a goal to make the region the firm’s second-largest revenue driver after China.
Wan said the company is adopting a plan similar to one from the 1990s, when THI Global Holdings decided to move its base to China from Taiwan, eyeing the massive growth potential of the Chinese market at the time.
In the first three quarters of the year, the company reported a nearly 80 percent annual increase in net income to NT$179.29 million, or earnings per share of NT$1.94, marking the highest level over the same period in the firm’s history, company statistics showed.
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Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
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