THI Global Holdings Corp (台驊國際投資控股), a freight-forwarder and logistics services firm, yesterday said it would purchase a 30 percent stake in a logistics company in Indonesia, as part of its plans to expand its business in ASEAN markets.
The company’s board of directors yesterday approved the plan to invest NT$45 million (US$1.55 million) in Jakarta-based PT Dexter Eurekatama.
“The two companies will work on developing Indonesia’s logistics market, including transportation via land, sea and air,” THI said in a statement.
In April, THI changed into a holding company, hoping to expand its business through mergers and acquisitions, with a focus on ASEAN markets, which are growing at a fast pace.
So far, THI has established three subsidiaries in Vietnam, Thailand and Cambodia.
Given stronger freight demand in the emerging markets, THI spokeswoman Echo Wan (萬心寧) said the company hoped to improve its local logistics services to attract more clients.
The company expects demand to rise further next year from this year amid an improving global economic sentiment, Wan added.
THI’s consolidated revenue totaled NT$715.49 million last month, up 12.21 percent from a year earlier. Cumulative revenue for the first 11 months rose 9.24 percent year-on-year to NT$7.93 billion, company data showed.