Fri, Jan 17, 2020 – 6:56 PM
TECKWAH Logistics, a wholly-owned unit of Teckwah Industrial, will consolidate the operations of its subsidiary JNE Logistics Singapore with its own, in a bid to streamline the Mainboard-listed company’s logistics segment.
Teckwah Logistics will take over the entire operations and assets of JNE Logistics, including existing contracts and other business obligations, Teckwah said in a Friday bourse filing.
The move will “enable the group’s logistics division to streamline operations and increase efficiency through the integration of expertise and shared business infrastructure and the allocation of resources among the division more optimally”, it added.
“Our commitment to our customers and our ability to fulfil their logistics needs remain unchanged. The consolidation is being seamlessly undertaken with no disruption to any of our operations, contractual commitments and future undertakings,” said Thomas Chua, chairman and managing director of Teckwah.
Teckwah’s logistics services include inventory and material management, e-commerce logistics, global fulfilment, last-mile delivery and aftermarket logistics.
Teckwah shares closed at S$0.48 on Friday, up 1.05 per cent.
