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Home Carriers Courier and express

CJ Century Benefits from Logistics Demand Growth

by Dafizeck Daud
May 19, 2022
in Courier and express, News, Supply Chain, Warehousing
CJ Century Benefits from Logistics Demand Growth

Photo: CJ Century Logistics

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CJ Century Logistics Holdings Bhd is expected to record net profits of RM29.9 million, RM35.4 million and RM44.4 million for the financial years 2022 (FY22), FY23 and FY24, banking on the global freight charges that are expected to remain high due to supply-chain disruption.

TA Securities Holding Bhd said in a statement that this represents earnings growth of 49 percent, 18 percent and 25 percent, respectively.

CJ Century is one of Malaysia’s top three warehouse operators, with a 4.5 million sq ft of storage capacity. It also operates a fleet of 130 trucks.

“In the logistics industry, industry players have been enjoying higher revenue and profit since the third quarter of FY20. Unfriendly competition is unnecessary when everyone benefits from higher volume and price.

“Free-trade agreements will bode well for Malaysia’s future trades, and the adoption of ‘just-in-case’ inventory management will spur the demand for freight and warehousing space,” it said.

For company-specific, TA Securities noted that the disposal of the loss-making courier service would help CJ Century stop the bleeding and refocus on growth in the total logistics segment.

TA Securities has initiated coverage on CJ Century, with a ‘Buy’ recommendation and a  target price of 95 sen.

Tags: CJ Centure LogisticsLogisticsSupply Chain

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