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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