JWD gears for expansion
Logistics solution provider JWD InfoLogistics Plc has set aside an investment budget of Bt2.5 billion to finance new investments and expansion this year, aiming to drive its revenue growth by 10 per cent year-on-year, said Charvanin Bunditkitsada , chairman of the executive committee and CEO yesterday.
The company has reached an agreement to acquire shares in CSLF, a Taiwan-based food service firm that manufactures, imports and sells food products.
JWD posted Bt589 million in revenue and a Bt20.7 million in net profit in fiscal year 2017. It has set a growth target of 15 per cent this year and will acquire a 60 per cent equity stake, worth Bt160 million, in the Taiwanese firm.
Payments and transfer of the shares are expected to be completed in April 2018.
Amid the high growth potential of the regional logistics market, the company will enter two new markets in the region this year - in addition to Laos, Cambodia, Myanmar, Indonesia and Thailand.
As for the growing food and cold storage segment, it seeks to build one additional cold storage plant in Vietnam in the second quarter of this year.
It plans to expand its investments in Jakarta and Surabaya in Indonesia , after partnering with Indonesian shipping line Samudera Group in setting up a joint venture firm to acquire a 67 per cent stake in Adib Cold Logistics (or ACL), a Jakarta-based cold storage and cargo transport company, Charvanin said.
