Friday, October 19, 2007

Century Logistics To Reward Shareholders More

Century Logistics To Reward Shareholders More

(Bernama) -- Century Logistics Holdings Bhd intends to reward its shareholders more due to the expected strong financial performance from its robust oil and gas logistics activities.

For a start, its managing director Steven Teow said, it has declared a special gross dividend of five sen a share following the improved revenue in the first half of its financial year ended June 30, when it rose 29.9 percent to RM76.4 million and net profit surged 599.6 percent to RM8 million during the period.

"The future growth is further enhanced and driven by our supply chain solutions domestically and abroad," he told a media briefing here Thursday.

The company provides value added oil and gas logistics, supply chain solutions and total logistics services.

These logistics services encompass international freight forwarding, transportation and distribution, and warehousing.

It also assembles and procures inbound and outbound logistics services to cover the entire value chain.

Meanwhile, its deputy managing director, Dr Mohamed Amin Kassim, said Century Logistics aspires to be a regional logistics group with joint ventures expected in China and Vietnam by year end.

It has already established regional joint ventures in Thailand, India, Sri Lanka and Dubai.

"We aim to replicate the oil and gas logistics services and supply chain management in our joint ventures abroad," he added.

Century Logistics has just sold its two-single detached warehouse in Port Klang to Mapletreelog (M) Holdings Sdn Bhd for RM32 million for a gain of RM5.8 million.

"Our plans are to identify strategic locations and to re-locate our warehouse assets in fast growth areas such as the Iskandar Development Region in Johor as well as overseas," Mohamed Amin said.

Its first warehouse is in the Port of Tanjung Pelepas, providing 200,000 sq ft. It began operations this month and is fully tenanted to Geodis for five years.

"We will commence the construction of our second distribution hub in the area next month," he added.

Century Logistics will also consider setting up facilities in the East Coast Economic Region as well as Sabah and Sarawak, he said.

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