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Kerry Logistics

(Redirected from Kerry Logistics Network)

Kerry Logistics Network Limited is a listed company engaged in third party logistics, freight services, warehouse operations, and supply chain solutions.[buzzword] It was listed on 19 December 2013, raising over US$280 million,[6] as a spin-off of Kerry Properties Limited.

Kerry Logistics Network Limited
Native name
嘉里物流聯網有限公司
Company typePublic
SEHK: 636
IndustryLogistics, Transportation, Supply Chain Management
Founded1981; 43 years ago (1981)
Headquarters55 Wing Kei Rd., Kwai Chung, Hong Kong,
China
Area served
Worldwide
Key people
WANG Wei (Chairman) [1]
Services3PL, Warehousing, Supply chain management, Linehaul, E-commerce, Express delivery, Project cargo
RevenueHKD 53.4bn (2020) [2]
HKD 1.83bn (2020) [3]
Number of employees
42,000+ (2020) [4]
ParentSF Holding (2021) [5]
Websitewww.kerrylogistics.com
Kerry Logistics
Traditional Chinese嘉里物流聯網有限公司
Simplified Chinese嘉里物流联网有限公司

Kerry Logistics is headquartered in Kwai Chung, Hong Kong.[7] As of 2020, they managed 74 million square feet (6,900,000 m2) of logistics facilities globally (24 million square feet [2,200,000 m2] of which is self-owned), with a fleet of 10,000+ self-owned vehicles operating in 59 countries and territories.[8]

The parent company of SF Express, SF Holding, has acquired a 51.8% stake in Kerry Logistics, for HKD 17.6 billion in 2021.[9][10]

Hong Kong edit

Before incorporation, its first established warehouse in Hong Kong was built in 1981. By 1991, the Group had five warehouses and acquired one warehouse with an aggregate GFA of approximately 2 million square feet (200,000 m2). The company was established in 1991. In 1999, they opened their flagship logistics facility, Kerry Cargo Centre, a 1.4-million-square-foot (130,000 m2) multi-storey combined logistics facility and global HQ office.[11]

The company name was changed to “Kerry Logistics Network Limited” in 2000, the same year they began to provide truck freight services to warehousing customers. International freight forwarding operations also began shortly after in Hong Kong through the acquisition of Kerry Freight (Hong Kong) Limited (previously named “R&B Transports Limited”).[12]

As of 2016, Kerry Logistics owned 12 logistics facilities in Hong Kong with a total GFA of 6.3 million square feet (590,000 m2).[13]

The Group generated a revenue of over HK$53 billion in 2020 and is the largest international logistics company listed on the Hong Kong Stock Exchange (Stock Code 0636.HK) as well as a selected Member of the Hang Seng Corporate Sustainability Index Series 2020-2021.[14]

Mainland China edit

In 2003, in collaboration with a joint venture partner, the first logistics centre in China was developed. In 2005, the China division acquired a 70% equity interest in EAS, and the new joint entity was renamed Kerry EAS Logistics ("KEAS"). EAS, a Chinese state-owned enterprise, was one of the leading domestic freight and warehousing entities in China at the time.

As of the end of 2016, KEAS managed approximately 5 million square feet (500,000 m2) of self-owned logistics facilities and approximately 8 million square feet (700,000 m2) of leased logistics facilities in China. The revenue in Mainland China was HK$8 billion, or about 38% of the total group revenue.[15]

Taiwan edit

In 2004, KLN commenced freight forwarding operations in Taiwan. In 2008, they acquired an initial equity interest in Kerry TJ Logistics, previously named “T. Join Transportation Co., Ltd”. As of the end of 2016, KLN held a total equity interest of approximately 49.67% in Kerry TJ Logistics.[16]

Kerry TJ Logistics is a major logistics service provider in Taiwan whose shares have been listed on the Taiwan Stock Exchange since 1990. It has an extensive distribution network supported by a fleet of more than 3,000 trucks.[17]

ASEAN edit

 
Kerry Express at AIA Capital Center Building in Bangkok.

KLN's business in ASEAN (Southeast Asia) started in 2002, with both integrated logistics and international freight forwarding operations in Thailand. In 2003, KLN completed the development of a logistics centre, with a total GFA of approximately 181,000 square feet (17,000 m2), in Thailand's largest sea port in Laem Chabang, south of Bangkok. In 2004, KLN acquired an initial equity interest in Kerry Siam Seaport Limited (formerly Siam Seaport Terminal & Warehouses Co., Ltd.). As of 2013, KLN holds 79.52% interest in Kerry Siam Seaport Limited. Kerry Siam Seaport Limited operates Kerry Siam Seaport, a multi-purpose port terminal located near Laem Chabang.[18]

As of 2013, KLN managed approximately 6 million square feet (600,000 m2) of completed self-owned facilities (representing an attributable GFA of approximately 4 million square feet [400,000 m2]) and approximately 3 million square feet (300,000 m2) of leased facilities in Thailand where Kerry Logistics trades as Kerry Express.[19]

Since 2004, KLN has continued to expand into other ASEAN countries by establishing international freight offices in Singapore, Malaysia, Indonesia, Cambodia, the Philippines, Vietnam and Myanmar.

United Kingdom edit

KLN commenced European freight forwarding operations in the United Kingdom in 2002, by acquiring an initial equity interest in Kerry Logistics (UK) (previously named “Trident International Limited”). In 2013, KLN acquired the remaining equity interest, making Kerry Logistics (UK) a wholly owned subsidiary of KLN.[20]

Indev Logistics, India edit

On 13 April 2016, Kerry Logistics announced the acquisition of a 50% stake in Indev Logistics Pvt. Ltd. (Indev), a Chennai-based logistics company. The stake value is estimated to be around Rs 1,000 crore. By 2018, the company is also planning to list in the Indian markets.[21] Once this investment plan takes effect, Indev will be rebranded as Kerry-INDEV, in line with Kerry's ambition to becoming a major pan-Indian logistics company with an India focus.[22]

See also edit

References edit

  1. ^ https://www.kln.com/en/governance/board-of-directors/
  2. ^ Kerry Logistics Network Financial Highlights
  3. ^ Kerry Logistics Network Financial Highlights
  4. ^ Kerry Logistics Network Limited Annual Report 2020
  5. ^ http://www.szse.cn/disclosure/listed/bulletinDetail/index.html?db5da534-b0f8-4b69-84de-ccb99de653cf
  6. ^ Finance Asia News
  7. ^ "Contacts". Kerry Logistics. Retrieved 2020-12-29. Global Head Office Kerry Logistics Network Limited 16/F Kerry Cargo Centre 55 Wing Kei Road Kwai Chung Hong Kong
  8. ^ Kerry Logistics Network 2020 Results Presentation
  9. ^ "SF Holding to buy Kerry Logistics to expand reach beyond China". Nikkei Asia. Retrieved 2023-05-24.
  10. ^ "SF Holdings Announcement on the progress of the proposed partial tender offer to acquire a 51.8% stake in Kerry Logistics". Shenzhen Stock Exchange. Sep 29, 2021. Retrieved 2023-05-24.
  11. ^ Kerry Logistics Network Prospectus
  12. ^ Kerry Logistics Network Prospectus
  13. ^ Kerry Logistics Network Prospectus
  14. ^ "About us at Kerry Logistics' official website".
  15. ^ Kerry Logistics Network Prospectus
  16. ^ "Kerry Logistics 2016 Financial Statement" (PDF).
  17. ^ "KERRY TJ Company Introduction". www.kerrytj.com. Retrieved 2016-07-22.
  18. ^ Bloomberg
  19. ^ "About us". Kerry Express (Thailand) Limited. Retrieved 7 July 2018.
  20. ^ http://portal.kerrylogistics.co.uk/about-kerry-logistics Archived 2017-04-11 at the Wayback Machine
  21. ^ Narasimhan, T. E. (2016-04-13). "Kerry Logistics to invests Rs 1,000 crore in Indev Logistics for 50% stake". Business Standard India. Retrieved 2021-03-16.
  22. ^ "Kerry invests Rs 1,000 crore in Indev logistics - Times of India". The Times of India. TNN. Apr 15, 2016. Retrieved 2021-03-16.

External links edit

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