Dimerco Express Corp (中菲行國際物流), which offers freight-forwarding and logistics services, yesterday announced that it has established a joint venture in India in an effort to deepen its coverage of emerging Asian markets.
The Taipei-based company formed its joint venture — Dimerco Express India Pvt Ltd — with Dart Global Logistics Pvt Ltd, an international freight-forwarding services provider based in India.
The Indian joint venture is part of Dimerco’s long-term strategic plan to set up operations in emerging market economies.
In the case of India, the company said it started with agency alliances, followed by setting up liaison offices between 2007 and last year, and finally opening the joint venture, according to the statement.
Apart from the joint venture’s main office in Bangalore, the company has also set up offices in Chennai and Delhi, with another office planned to open in Mumbai, according to Dimerco.
Dimerco said it maintains a conservative outlook on the development of the general market, but sees market potential in the BRIC countries — Brazil, Russia, India and China.
In addition, as India has signed various free-trade agreements with ASEAN members, Dimerco said this would help raise the company’s presence and market penetration in the region.
The company posted NT$1.22 billion (USD$41.43 million) in sales in August, with revenue in the first eight months of the year totaling NT$9.97 billion, up about 2 percent from a year earlier, data showed.
EXTRATERRITORIAL REACH: China extended its legal jurisdiction to ban some dual-use goods of Chinese origin from being sold to the US, even by third countries Beijing has set out to extend its domestic laws across international borders with a ban on selling some goods to the US that applies to companies both inside and outside China. The new export control rules are China’s first attempt to replicate the extraterritorial reach of US and European sanctions by covering Chinese products or goods with Chinese parts in them. In an announcement this week, China declared it is banning the sale of dual-use items to the US military and also the export to the US of materials such as gallium and germanium. Companies and people overseas would be subject to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
WORLD DOMINATION: TSMC’s lead over second-placed Samsung has grown as the latter faces increased Chinese competition and the end of clients’ product life cycles Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) retained the No. 1 title in the global pure-play wafer foundry business in the third quarter of this year, seeing its market share growing to 64.9 percent to leave South Korea’s Samsung Electronics Co, the No. 2 supplier, further behind, Taipei-based TrendForce Corp (集邦科技) said in a report. TSMC posted US$23.53 billion in sales in the July-September period, up 13.0 percent from a quarter earlier, which boosted its market share to 64.9 percent, up from 62.3 percent in the second quarter, the report issued on Monday last week showed. TSMC benefited from the debut of flagship
TENSE TIMES: Formosa Plastics sees uncertainty surrounding the incoming Trump administration in the US, geopolitical tensions and China’s faltering economy Formosa Plastics Group (台塑集團), Taiwan’s largest industrial conglomerate, yesterday posted overall revenue of NT$118.61 billion (US$3.66 billion) for last month, marking a 7.2 percent rise from October, but a 2.5 percent fall from one year earlier. The group has mixed views about its business outlook for the current quarter and beyond, as uncertainty builds over the US power transition and geopolitical tensions. Formosa Plastics Corp (台灣塑膠), a vertically integrated supplier of plastic resins and petrochemicals, reported a monthly uptick of 15.3 percent in its revenue to NT$18.15 billion, as Typhoon Kong-rey postponed partial shipments slated for October and last month, it said. The
RSS