Wed, Jan 30, 2019 - Page 11 News List

T3EX shares rise after record-high earnings report

By Ted Chen  /  Staff reporter

T3EX Global Holdings Corp (台驊國際投資控股) shares on Monday rose 2.44 percent to NT$25.20 after the company reported record-high earnings on Friday last week.

Trading volume surged to 1.13 million shares, compared with 173,000 in the previous session, as the company posted unaudited net income of NT$356 million (US$11.6 million), up from NT$134 million a year earlier.

Earnings per share were NT$3.08, the strongest showing since the firm’s listing on the Taipei Exchange, while revenue last year rose 10 percent annually to NT$11.56 billion.

Regarding uncertainties about a US-China trade dispute, the company said that it would follow its customers in relocating to alternative markets, in particular in Southeast Asia, where it expects to open a subsidiary in the Philippines before the end of this year.

That would expand its coverage of ASEAN markets to seven countries, following its acquisition of a majority stake in Singapore’s Airtropolis Express (S) Pte Ltd in September last year.

The firm was also upbeat on its diversified business-to-business-to-consumer operating model that targets anticipated expansions in China’s import and domestic e-commerce markets as the country leans on domestic consumption to propel economic growth.

While slower-than-expected demand for consumer electronics could dent air freight revenue, the effects would be offset by continued momentum in cross-border e-commerce, T3EX said.

Tighter emissions standards would also accelerate fleet updates and help ease a persistent supply glut in the ocean freight sector, it said.

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