See Hup to expand business to Klang Valley and JB

GEORGE TOWN: Penang-based logistics company, See Hup Consolidated Bhd, plans to expand its transportation services business into the Klang Valley and Johor Baru, amid strong demand for logistic services due to various infrastructure projects.

Group managing director Lee Chor Min said the group planned to tap various opportunities that arose from the many upcoming infrastructure projects in Greater Klang Valley.

He said the focus next year would be in the Klang Valley and Iskandar Malaysia supported by strong demand for logistic services in both these areas.

“Projects such as the East Coast Rail Link, High-Speed Rail and Mass Rapid Transit will provide us an opportunity, especially in logistic services, where we can offer total logistics solutions,” Lee told Bernama after the compa- ny's annual general meeting here yesterday.

For the financial year ended March 31, 2017, See Hup recorded a higher revenue of RM87.87mil versus RM81.89mil recorded in the last financial year.

However, it posted a pre-tax profit of RM89,000 against the previous year of RM11.76mil.

Lee said the transportation and logistics services business segment continued to be the main revenue driver for See Hup, although the air and sea freight services, which commenced operations several years ago, registered encouraging growth.

“Our core strength is in land trucking. We provide trucks to move structural items for infrastructure projects and we are hoping to be able to maintain the same margin of growth in revenue,” he added.

The group set aside RM10mil in capital expenditure to expand its business in Klang Valley and Johor Baru.

See Hup provides total logistics services between Thailand and Peninsular Malaysia as well as Singapore.

Its local customers are mostly involved in the infrastructure and construction sectors while overseas clients from Japan, the United States, Europe and India, are involved in consumer goods, electronics and machinery parts.

We provide trucks to move structural items for infrastructure projects. Lee Chor Min