WICE closed the deal to acquire shares of Hong Kongs leading logistics company, Universal Worldwide Transportation Limited, in order to expand its market to Chinese and Hong Kong customers.

Stocks and Financial Services Press Releases Tuesday January 9, 2018 15:57
Bangkok--9 Jan--Worklink PR

Preparation for big restructuring has been established to enhance Thai logistics brand "WICE" as the leader of logistics service provider in Asia with the target revenue of this year to rise by 30%, reaching 1.8 billion baht. New business partners are welcomed.

Mr.Chudet Kongsoonthorn Managing Director Business Development of WICE Logistics Pcl., (WICE), the complete international logistics service provider disclosed that the Company had entered the transaction and the part 1 payment of 39.86 million baht to purchase common stocks of Universal Worldwide Transportation Limited ("UWT") from Hong Kong on January 4, 2018 which was in accordance to the purchase plan of the UWT's 80,000 common stocks at the par of 10 HKD, accounting for 80% of the total common stocks of UWT. The investment value of the purchase was at the total investment of 115.03 million baht of which the rest at the amount of 75 million baht would be paid in the next 5 years (2022).

The acquisition of UWT provides WICE important business opportunity at international market level. The Company has a plan to co-expand the business in China through Guangzhou Universal Worldwide Transportation Limited (GUWT), the subsidiary of UWT, which has customers and complete logistic services in important business areas in China. This leads to an increase of customer base which is beneficial to the Company's proficiency to increase its revenue and profitability in the future.

"The acquisition of UWT is a good deal and worth the investment, providing tremendous business opportunity with its business proficiency and competitiveness, marketing networks in China where exists the big transportation market with high logistics demand opening immense opportunity for the Company to co-expand customer base as well as connecting the cooperation network with SEL. As a result, WICE is able to rapidly expand its market to international level, said Mr.Chudet

Mr.Chudet added that the Company's 2018 business operation plan focused on organizational restructuring by enhancing the WICE brand to the leading logistics service provider in Asia, particularly in China as the biggest market. Therefore, all the acquired companies' names would be changed, for instance Sun Express Logistics Pte. Ltd... (SEL) to WICE LOGISTICS (Singapore) and UWT to WICE LOGISTICS (Hong Kong), etc., which helped WICE to receive better recognition and facilitate cooperation between affiliated companies with effective network connection.

The Company's revenue target of 2018 is at 1,800 million baht, increasing by 30% from the revenue in 2017 of which is confident to meet the target of 1,300 million baht. The growth factor comes from the expansion of all-type service operation which consists of Sea Freight, Air Freight, Custom Service, Domestic Transportation, and Warehouse Management.

In addition, the Company also records the 2nd year operation revenue from SEL in this year and another revenue report of UWT after the acquisition. Meanwhile, the Company still focuses on its business expansion policy by looking for proficient business partners to help support the business and to connect WICE's network in order to achieve complete logistics coverage in Asia.


Latest Press Release

ชวนผู้ประกอบการเรียนรู้เส้นทางความสำเร็จของสตาร์ทอัพแอปพลิเคชัน เคลมดิ อังคาร 25 ก.ย. นี้

ตลาดหลักทรัพย์ฯ ขอเชิญผู้ประกอบการ Social Enterprise (SE) SMEs และ Startup ร่วมอบรมครั้งพิเศษในโครงการ SET Social Impact Gym หัวข้อ "Fintech vs Social Startup... Lesson Learned..." พบกับสตาร์ทอัพเจ้าของแอปพลิเคชัน "เคลมดิ" (Claim Di)...

3650 REIT and Silverfern To Collaborate on US CRE Private Debt

3650 REIT ("3650 REIT") and The Silverfern Group ("Silverfern") today announced a collaboration for bridge and event-driven lending secured by U.S. commercial real estate ("CRE") to be marketed as the Silver3TG Investment Program...

KTC packs a punch with worldwide online shopping opportunities with cash backs and up to X12 rewards points.

Mr. Nattasit Soontranu, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited,states, "In the first half of the year, KTC achieved a decent level of online purchases made using KTC credit cards—a level that is also...

Political risks in Asia are on the rise

According to Coface's Political Risk Index, Asia scored 45% on the latest risk ranking, above the world average of 35%. Nevertheless, this score remains lower than those of Sub Saharan Africa, the Middle East & North Africa, Central Europe and Latin...

Greece#s exit from the international bailout programme

- Reforms have helped to clean up public accounts, restore Greece's credibility and strengthen confidence - The crisis has resulted in companies cleaning up their balance sheets - "Zombie" companies continue to survive, due to insufficiencies in the...

Related Topics