Logistics provider Lalamove gets a boost

The latest investment comes as Lalamove Thailand is experiencing increasing demand for its on-demand services from the corporate sector, including restaurant delivery, as well as the domestic market.
The Lalamove app has been downloaded by hundreds of thousands of users in Thailand alone with over 15 million registered users across the platform's service area, the company said.
In September, Lalamove announced an upward trend in customers using its fleet of high-top pick-up trucks in Thailand, which are now standardised with high-tops and signage, with drivers wearing new Lalamove uniforms.
The round was led by ShunWei Capital, a venture capital firm that invests significantly in growth stage startups. 
Lalamove’s latest investment round also includes participation from several previous investors including Xiang He Capital and MindWorks Ventures.
Lalamove leverages the power of the web, mobile app technology and the sharing economy to provide same-hours delivery services for SMEs that require fast, on-demand delivery services.
Lalamove offers the most comprehensive logistics and delivery coverage in Asia; in July 2017, the company reached a significant milestone of providing delivery in 100 cities.
Lalamove services over 15 million users and is supported by over 2 million drivers while continuing to expand rapidly across China and Southeast Asia.
Shing Chow, founder and CEO of Lalamove, says: “After our Series B, we set out an ambitious goal to achieve leading delivery coverage across Asia and we've managed to exceed our expectations. We will continue to quickly expand into cities where we feel we can provide the simplest and fastest delivery service in the market.”
Aside from market expansion, this new funding will also be used to make investments into talent across all parts of the organisation, to build new product features and to allow businesses more direct access to Lalamove’s large fleet of drivers.

LABEL

Sahathai Terminal raises funds for expansion

Sahathai Terminal or “PORT” plans to invest over Bt800 million to expand its commercial port capabilities.
Chief executive officer Sauwakun Karuchit said the company, established in 2008, has continuously grown and is now one of Thailand’s leading private port operators. It provides full commercial port services and logistics solutions for both international feeders and domestic barges by capitalising on its strategic location in Poochaosamingprai, Samutprakarn, she said.
Its services include integrated port services for both feeders and barges; inland container transport in the Bangkok metropolitan area and to Laem Chabang port; container yard and warehouses for global automotive and e-commerce customers, and related services such as container depot, freight forwarding, and a container freight station that supports the requirements of both exporters and importers.
The company has partnered with Mitsui OSK Lines (MOL) to set up a joint venture company, Bangkok Barge Terminal (BBT). BBT has been granted an inland container depot (ICD) licence for river ports by Thai Customs Department, which makes BBT Thailand’s first river port ICD, to provide services to commercial barges.
In addition, it has set up another joint venture, Bangkok Barge Service, with Mediterranean Shipping Company (MSC), the world’s leader for domestic barge operations. These partnerships will create better services for our customers, with state of-the art technology and equipment and strong professional teams, she said.
“We have expanded our capabilities to support future business growth driven by the government’s EEC and mega projects initiatives, which will increase the volumes of export and import goods significantly,” Sauwakun added.
The company's deputy CEO, Banchai Karuchit, said: “The company plans to raise fund through an initial public offering to investors and list our shares in the Market for Alternative Investment (MAI) this year. We have enjoyed growing business results with revenue of Bt1.080 billion in 2016, up from Bt841 million in 2015 and Bt830 million in 2014.
“This was a result of strong increase in container volumes and growing warehouse rental revenues. Our net profits were Bt74 million in 2016, Bt25 million in 2015 and Bt36 million in 2014, respectively”.
At present, the company has a registered capital of Bt230 million, with Bt170 million paid up, at Bt0.50 par value.
Montree Sornpaisarn, chief executive officer, May Bank Kim Eng Securities (Thailand) adds “As its financial advisor, we believe that Sahathai’s IPO will be very interesting to investors for many reasons. The company has strong business fundamental and is in the ever-growing logistics industry.
May Bank plans to offer 120 million IPO shares of Sahathai, or 26.09 per cent of its total shares after the IPO, in November this year.

HOSPITALITY 

First SureStay Hotel Opens in Downtown Bangkok

SureStay Hotel Group has made its debut in Asia, marking the start of a new era of quality, affordable accommodation in the region.
SureStay Plus Hotel by Best Western Sukhumvit 2 welcomed its first guests this month, in the heart of downtown Bangkok. This new premium economy hotel will provide guests with international standards and services one would expect from a Best Western -branded hotel, at reasonable prices.
The new hotel’s 85 rooms are designed in a contemporary style and will feature sleep-inducing beds and complimentary in-room Wi-Fi. There is also a “business corner” area providing corporate travelers with a range of professional services.
“We are delighted to unveil SureStay Plus Hotel by Best Western Sukhumvit 2, an exciting new hotel that will redefine the premium economy hotel sector,” said Olivier Berrivin, Best Western’s Managing Director of International Operations/Asia. “Located in a prime position in downtown Bangkok’s Sukhumvit district, this brand new hotel provides everything guests need for convenient, fuss-free stays in the heart of the city.”
“We are seeing rising demand for branded economy and lower-midscale accommodation in key cities across Asia Pacific. SureStay Hotel Group is perfectly positioned to fill this gap in the market and we look forward to introducing this exciting new concept to more cities across the region in the coming months and years,” Olivier added.
SureStay Hotel Group was first introduced in late 2016, opening up new opportunities for Best Western Hotels & Resorts in the large yet relatively untapped economy and lower-midscale sectors. It also provides hotel owners with the opportunity to harness Best Western’s vast global network, in terms of sales, distribution, technology and support.

FUNDING GROWTH 

KLeasing, Thai VP enter loan agreement

KLeasing and Thai VP Corporation Limited, under the Thairung Group, recently signed an agreement for the bank to provide operating lease financing worth Bt400 million to finance the company's future business expansion.
Thai VP Corporation Limited engages in the short-and long-term rentals of passenger cars, pickup trucks, vans and trucks.