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|20 March 2010
TNT expects to benefit from strong Philippine growth
Dutch logistics firm TNT is confident that improving economic conditions would prop up business and help the company grow by double-digit rates this year, reported the Philippine Daily Inquirer.
In a briefing, the company’s local unit, TNT Philippines, said it stood to benefit from the recent improvement in the electronics sector, which made up for two-thirds of the country’s exports.
“Seipi (Semiconductor and Electronics Industries in the Philippines Inc.) just told me that in January, electronics exports improved by over 50 percent year on year. It also grew 8 percent over December,” TNT Philippines general manager Cetin Yalcin said.
The company said it was targeting to post a 17-percent growth in its business this year. “Personally, I think we can achieve growth of between 25 and 30 percent,” Yalcin said.
“Based on the growth rates we have seen in the first two months of the year, it’s possible that we can beat our goals,” he said.
He said the company posted more than 30 percent growth in its import shipments despite a contraction in the total inbound shipments. The company also claimed it had met its objective of expanding its freight services by 16 percent.
About 32 percent of the company’s shipments from the Philippines are electronics. Yalcin said about half of the Seipi members were clients of TNT.
Last year, he said the company invested P15 million in building a new depot in San Fernando, Pampanga to serve its Northern Luzon clients. This year, the company said it would put up a new cargo depot in Southern Luzon to cater to electronics manufacturing facilities based in the area.
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