Thai-based NCL to pick 22% in Transoffshore

Visual from NCl homepage

NCL International Logistics (NCL), Thailand’s listed logistic service provider, today announced that it is planning to acquire a 22.22 per cent holding in Singapore-based Transoffshore Logistics.

This acquisition is expected to help NCL expand its business to the region while benefiting from the technical expertise provided by Transoffshore.

Transoffshore has a paid-up registered capital of S$1 million, divided into one million shares at the par value of S$1 per share.

After the board’s meeting, NCL’s chief executive officer (CEO) Kitti Phua said that the company will acquire 222,222 shares at the par value and the fund will come from its working capital.

“This is a significant step to increase our market share and improve our know-how about crude instillation logistics. Importantly, we will have more high-potential partners to support our growth in the ASEAN,” he said.

Kitti told DEALSTREETASIA that the company plans to set up two more hubs outside Thailand, one is in Singapore and the other in Dubai, as a part of driving itself to be the global logistic provider. The two hubs are expected to have an investment outlay of 30 million-50 million baht ($923,000-$1.54 million). The company is planning to utilise funds raised from its initial public offering (IPO) in the Market for Alternative Investment (MAI), to support this expansion plan.

The hub expansion will boost its competitiveness because it will enjoy more tax exemption from those two countries.

The company board also approved forming of a subsidiary called “Custom Express Company Limited” with a registered capital of five million baht ($151,515) to provide customised service.

NCL will hold 99 per cent stake in Custom Express and the financial source is from its working capital.

The company’s revenue and profit has grown more than 20 per cent each year, for the past three years. In the first six months in 2014, it generated an income of 485 million baht ($15.16 million), up from 434 million baht ($13.56 million) in the same period last year. Of the total revenue, 85-90 per cent came from international logistics and the rest 10-15 per cent from domestic operations.

Currently, the NCL serves customers in more than 180 countries worldwide.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.