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Tag: GDEX

  • GDEX acquires 44.5% stake in Indonesian courier

    GDEX acquires 44.5% stake in Indonesian courier

    GD Express Carrier Bhd (GDEX) and two of its wholly owned subsidiaries have taken up a 44.5% stake in PT Satria Antaran Prima TBK (SAP Express) via an initial public offering (IPO) for IDR92.71 billion (RM25.8 million) or IDR250 per share.

    SAP Express is slated for listing this week.

    GDEX told Bursa Malaysia that the group and two units GDEX Sea Sdn Bhd and GD Valueguard Sdn Bhd have subscribed for a 16.5%, 18% and 10% stake in SAP Express for RM9.57 million, RM10.43 million and RM5.79 million, respectively.

    The subscription sum will be satisfied entirely in cash through internal generated cash and cash in hand.

    Headquartered in South Jakarta, SAP Express mainly provides services in the express delivery segment, as well as transportation, distribution and warehousing.

    As of March 2018, it is able to cover the whole of Indonesia supported by its 58 branches and 12 representative branches as well as more than 100 retail counters.

    GDEX said the participation in SAP Express’ IPO will enable the group to tap into the fast-growing express delivery industry in Indonesia, which is also in line with the strategy of regional expansion starting with Indonesia.

    “We believe Indonesia offers a vast growth opportunity for the courier business, supported by the growth of e-commerce as well as conventional business. The continuation of the company’s partnership with SAP Express will enable the company to provide business advice and support as well as knowledge transfer between the two companies.”

    Its shares gained 1.5 sen or 3.6% to close at 43 sen today with 1.01 million shares changing hands.

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  • SingPost GD Express sale to boost eCommerce

    SingPost GD Express sale to boost eCommerce

    Singapore Post (SingPost) has sold off part of its stake in GD Express (GDEX) for S$78.4 million (US$55.88 million) and will use the proceeds to drive global growth for its eCommerce logistics.

    This is a net gain of S$64 million – about five times return on the initial investment.

    Yamato Asia, a wholly owned subsidiary of Japanese transportation and forwarding group Yamato Holdings, has bought the 137,418,000 shares.

    Proceeds from the SingPost GD Express sale will be reinvested into its eCommerce services and networks in the US, Europe, China and the rest of Asia Pacific, in line with the group’s strategy to continue strengthening its integrated end-to-end eCommerce logistics, including front-end web management, warehousing and fulfilment, last-mile delivery and international freight-forwarding.
    SingPost deputy group CEO Mervyn Lim says the group is gearing up “on an accelerated path” to becoming a global leader in end-to-end eCommerce logistics.

    “This deal gave us a good return on our investment and also boosted our available resources to drive SingPost’s eCommerce logistics growth as it pivots into the US with the recent investments inTradeGlobal and Jagged Peak.”
    With interlinked systems with GDEX, the group will continue to reap business synergies with the added uplift Yamato brings to GDEX.

    “Collaborations and partnerships are vital to SingPost as we connect the dots in building a global eCommerce logistics ecosystem,” says Lim. “We continue to work with strategic partners in Malaysia and the rest of Southeast Asia while leveraging the Quantium Solutions commercial network, as well as those of our associated companies, to reinforce the ecosystem we are building.”

    SingPost now holds a 11.2 per cent strategic stake in GDEX and retains its board seat.

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