Tansimex deal expands JWD's business in Asean

The company said in a press release on Friday that it received the right to hold one seat on the Board of Directors of Transimex and can expect to see profit sharing from its investment starting from the second quarter of 2019, which will support its performance this year. 
JWD said it is confident in the overall outlook of the logistic industry in Vietnam over the next five years since it shows a trend for continuous growth, Charvanin Bunditkitsada, Chairman of the Executive Committee and CEO of JWD, said.
He added that Asean top specialised supply chain solutions, revealed that the Board gave approval for JWD Asia Holding Private Ltd., a subsidiary in Singapore, and Prosper Logistics Joint Stock Company, a subsidiary in Vietnam, to purchase 23.66% of shares in the Transimex Corporation. 
Transimex offers an integrated service that provides land, water and air logistics in Vietnam. It is registered in the Ho Chi Minh Stock Exchange and has assets worth that places it among the top 500 firms in the country. 
An investment of Bt527.4 million (or about 390 billion Vietnamese dong) was made and the shares have already been transferred. 
JWD also received the right to hold one position in the Board of Directors of Transimex Corporation. This was a big and important investment which will expand JWD’s business to cover nine countries in Asean within the year.
The investment is expected to benefit JWD's performance this year as it will start to receive profit sharing according to the shareholding ratio in Transimex Corporation from Q2/2019. 
At present Transimex is the third largest integrated logistics service provider in Vietnam which last year earned revenues of around Bt3 billion  and a net profit of Bt300 million.