A total logistics player, which is finalising a joint-venture company in Indonesia, also plans to expand its freight services in another South-East Asian (SEA) country by next year. The expansion was in line with the group's goal to create a strong regional base.
FMH holds a 62% stake in JV company, PT Icon Freight Indonesia, via its subsidiary, Icon Line (M) Sdn Bhd.
Prior to Indonesia, FMH established its first overseas office in Western Australia two years ago with the setting up of a joint-venture company, Icon Freight Services Pty Ltd, in which it controls 55%.
On the local front, FMH owns more than 190,000sq ft of warehousing, 20 trucks and nine prime movers for its freight operations.
FMH's freight services include full container loads and less container load services for sea, rail and air. This made up about 90% of the group's pre-tax profit.
Besides freight services, FMH is also expanding its fleet of barges and tugboat services of its 51% owned Singapore-based TCH Marine Pte Ltd.
10 hours ago
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