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YANG BERBAHAGIA DATO’ AZLAN HASHIM, DEPUTY CHAIRMAN OF AMMB HOLDINGS BERHAD
MR. YUJI HIRANO, ADVISER TO PRESIDENT OF NIPPON YUSEN KABUSHIKI KAISHA GROUP
MR. KAZUYOSHI IWAHAZAMA, REPRESENTATIVE OF YUSEN AIR & SEA SERVICE
MR LEE CHECK POH, MANAGING DIRECTOR OF TASCO
MR. TC KOK, MANAGING DIRECTOR OF AMINVESTMENT BANK BERHAD
DATUK-DATUK,
DATIN-DATIN,
MY FELLOW BOARD MEMBERS,
DISTINGUISHED GUESTS,
MEMBERS OF THE MEDIA
LADIES AND GENTLEMEN
Assalamualaikum and Good Morning,
First and foremost I would like to thank Datuk Azlan Hashim for his presence here this morning and also to our partners who have traveled from Japan and afar to attend this inaugural event. I am grateful for your presence.
Five years ago when I came on board as Chairman of TASCO, I was impressed by the mission and vision of the company. Today, standing before you for the launch of prospectus, I am proud to note the achievements of the company drawing close to its listing on the Main Board of Bursa Malaysia Securities Berhad.
Ladies and gentlemen,
TASCO started from just conducting customs broking services back in the 70s. Today, TASCO is one of the leading Total Logistics Solutions Providers in Malaysia, working in partnership with the NYK Group, one of the world’s leading shipping company listed on the Tokyo Stock Exchange, the Osaka Securities Exchange and the Nagoya Stock Exchange as well as one of the world’s largest companies according to Fortune Global 500.
The logistics business is a diverse industry encompassing freight forwarding, port operations, transportation, warehousing and value-added services involving import-export activities. Historically cargo logistics are closely linked to transportation–centric activities. However TASCO’s vision was farsighted and the company pioneered into providing a total supply-chain process integrating air, sea and land transportation services for its customers. This is the unique point to note about TASCO whose strengths lie in its international network alliances with partners such as NYK and Yusen to provide comprehensive total logistics solutions.
Our Group has the capability to provide fully integrated logistics services to serve customers with a variety of logistics services which include offering customs broking, sea and air freight forwarding, trucking, container haulage, warehousing and multi-modal door to door delivery supply chain management from TASCO’s 28 local offices and 971 employees across Malaysia. And because fulfilling customer needs are important to us, we are able to customize our logistics solutions to cater to customers with special requirements. Our Group has also taken a proactive measure to introduce a new business division, INSD which caters for international buyer consolidation services.
Ladies and Gentlemen:
In recent years, manufacturers increasingly outsourced their logistics operations due to increasing complexity of logistics arrangements as well as to save costs. Many of the sizeable local manufacturers are expanding overseas and our alliance with the NYK Group enables us to leverage on their logistics network to fulfill our customers’ demands. Vice versa, many of NYK’s multinational customers are also setting up and expanding their operations in Malaysia.
Coupled with the Government’s 9th Malaysia Plan to improve infrastructure and support transport services where RM30.3 billion is budgeted to increase capacity, upgrade, and refurbish infrastructure networks to meet rising demand and improve service delivery, the future looks bright for TASCO.
Our revenue and profit have soared over the years and we expect a double digit growth of 11% in revenue and 16% in profit for the next financial year 2008. We continue to maintain a healthy cash flow with low gearing, which I believe make TASCO an attractive investment.
TASCO will be here to serve and contribute to the development of the logistics industry for a long time to come. We will also be looking to broaden our activities within the logistics sector to further strengthen our brand proposition, in line with our vision, that is “To be the professional total logistics solution provider that consistently performs beyond the expectations of our customers, partners and employees.”
This listing is also a timely exercise for the Group as it will allow us to gain access to the capital markets to tap funds for our future expansion, especially our new facilities in Bangi and Port Klang which will further strengthen our market position and support our continued growth.
I would also like to point out here that this exercise is also an opportunity for our employees to participate in the ownership of the Company. Without our loyal and dedicated staff, the Group would not have achieved what we have today. I hope the Malaysian public, institutional investors and fund managers will also see through the investment value of TASCO and participate.
Ladies and gentlemen,
In conclusion, I would like to thank the Securities Commission, Bursa Malaysia and all our advisers including AmInvestment Bank, Jeff Leong, Poon & Wong and Moores Rowland for guiding us through this exercise.
I would especially like to thank our most valued customers who are here today. We will continue to deliver only the best to you.
Our gratitude also goes to our suppliers, bankers and business partners who have been supporting us throughout the years.
And last but not least, to our shareholder the NYK Group, thank you for your encouragement, faith and impeccable working partnership.
Finally we look forward to your continued support as our Group works towards new development and expansion for a greater future.
Thank you.
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YANG BERBAHAGIA TAN SRI ASMAT KAMALUDIN CHAIRMAN OF TRANS-ASIA SHIPPING CORPORATION BERHAD (TASCO)
YANG BERBAHAGIA DATO’ AZLAN HASHIM DEPUTY CHAIRMAN OF AMMB HOLDINGS BERHAD
MR LEE CHECK POH, MANAGING DIRECTOR OF TASCO
MR. KAZUYOSHI IWAHAZAMA, REPRESENTATIVE OF YUSEN AIR & SEA SERVICE
MR. TC KOK, MANAGING DIRECTOR OF AMINVESTMENT BANK BERHAD
DATUK-DATUK,
DATIN-DATIN,
DISTINGUISHED GUESTS,
MEMBERS OF THE MEDIA
LADIES AND GENTLEMEN
Good Morning,
First and foremost, on behalf of the NYK Group, I would like to congratulate TASCO for their distinguished achievements throughout the years. As a long time strategic partner of TASCO, we are very proud to share this momentous occasion with the board and management of TASCO as they bring the Company forward to the listing on the Main Board of Bursa Malaysia Securities Berhad.
The NYK Group and TASCO have fostered over 30 years of relationship and together we have grown our business in Malaysia and globally providing a comprehensive Total Logistics Solutions for air, sea and land transportation. We are very encouraged by TASCO’s bold move to take the company listing and we foresee greater partnership ahead.
There are great synergies between the NYK Group and TASCO, which provide quality services through its strong domestic network here in Malaysia. The NYK Group currently has 379 logistics centres in 34 countries and services various international and multinational customers worldwide. Customers are the key to our success and it is important that we choose the best partners to work with in providing our logistics solutions.
We are confident that TASCO will continue to surge forward following this listing exercise and the NYK Group is happy to provide the international network support to TASCO as they grow. We believe TASCO has the potential to become one of the largest total logistics solution providers in the country because of its strong foundation, established and technologically advanced operations as well as experience and committed team of management.
Ladies and Gentlemen,
We are very excited today as we join TASCO’s path in bringing the company to the next level.
As said by my President, the very principle of the NYK Group is monohakobi, which is the safe and trustworthy transport of our customers' valuable products over a network recognized for its quality. We want to contribute to the lives of people, in addition to the cultural and economic development of the world, through our monohakobi.
As a result of the expansion of market economies, growing populations, and the greater accessibility to various regions around the globe, material distribution has greatly increased. Therefore, the role of our monohakobi has become increasingly important on a global scale. One of our missions is to pursue the essence of monohakobi while striving to respond to our customers' expectations and needs in this global environment.
Hence, we look forward to fostering a continuous relationship with TASCO to provide our valued customers with top notch cargo and logistics facilities.
Thank you.
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