KUALA LUMPUR: GD Express Carrier Bhd (GDEX), through its wholly-owned subsidiary GD Express Sdn Bhd (GDSB), announced the expansion of its warehouses, distribution centres and transportation fleet to cater to the increase in order volumes following to the booming of Malaysia's e-commerce market.
The project which commenced on 1 November 2020 is expected to create more than 1,000 employment opportunities for Malaysians.
Further expanding the existing capacity, GDEX also intends to diversify its information technology (IT) infrastructure systems to efficiently support its operation in the regions for the next five years.
Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Azman Mahmud said e-commerce has been the fastest growing sector in the global trade landscape and assumed to be an integral component in enabling the growth of supply chain industry.
"While Malaysia continues to create a pro-business environment, GDEX expansion and diversification will complement the logistical infrastructure in providing seamless and reliable services to e-commerce and e-fulfilment activities," he said in a statement.
This novel system will include the future use of social commerce supply chain (DeKAT) to extend the logistics services and create a seamless supply chain facility to the small and medium-sized enterprises (SME), social entrepreneurs and fulfilment houses, last mile delivery platform (KITA) an efficient hybrid model to provide 5,000 sustainable gig economy opportunities and fleet operation as well as maintenance platform and system or R'MADA to increase productivity and efficiency of fleet management.
Since its inception in March 1996, GDEX through GDSB has been developing feasible IT solutions to support e-commerce activities such as myGDEX.
It is an online shipping platform to enhance customer's delivery experience, cloud-based call centre and interactive voice response (IVR) support to allow companies deploying call centre at any strategic area within Malaysia.
It also includes the GDEX mobile apps for courier which will enable couriers to update the status of pick-up and delivery on a real-time basis, e-wallet payment acceptance and GDEX e-commerce integration which provides seamless integration with online stores such as WOO Commerce, Magento, opencart, NET SHOP, payex and unicart.
GDSB has been granted with tax incentive by MIDA to carry out integrated logistics services (ILS) activities as an expansion project and e-commerce/e-fulfillment diversity project.
The government through MIDA provides incentive to encourage logistics companies to undertake logistics operation in an integrated manner, to adopt technology in their operations and to position themselves as regional e-Fulfilment hub providers in Malaysia.
For the period of January to September 2020, MIDA has approved a total of seven ILS projects worth RM708.9 million, including two related to the e-commerce/e-fulfillment projects.
"The ILS incentive came in timely as a catalyst for the group to embark on the programmes in improving, expanding and innovate its operations and products offerings. It enables us to strengthen our logistical support facilities and capabilities," GDEX chairman Tan Sri Muhammad Ibrahim said.
"This incentive will motivate us to continue with our vision to become an ASEAN courier and e-logistic company. The ILS incentive would also contribute positively to our effort to tighten up our operations and improve service quality.
"MIDA's support and facilitation to the business community will go a long way in promoting a strong, resilient and reliable courier and logistics industry for the country," he said.
MIDA will continue to facilitate companies in their project implementations which subsequently help to chart the growth and development of the e-commerce sector, in result, positioning Malaysia as the regional e-Fulfillment hub.
Financial result should be good. Year to year increased by 51%. Quarter to quarter decreased by 10%. Opine the next quarter result will be superb. If you compare nationwide share price, what do you think ??? Is it undervalue ???
Some ppl may think that result of every quarter have to be increased gradually, ie. up forever. Does this make sense ? Can you find a company with result gradually as quarter goes by, you let me know, i will all invest all in...
Cant stop laughing, how many comments u delete after huge lost yesterday? hip hop yum yum ponbibi Stay strong bro, not the first time, but surely not the last time too
Posted by VenFx > Nov 27, 2020 7:30 AM | Report Abuse
Hope GDEX won't fly much as The EGM fixed on 3rd Dec 2020...
Swap my earlier profit earned bit by bit to goldDex. Hip Hop Hooray!
With this economy. Profitable company should be the choice. Invest in value and future of the economy. When economy gets going again. This will be even more better. Look into value and future prospect. 2021 is going to be the year of recovery.
PETALING JAYA: GD Express Carrier Bhd (GDEX), via wholly owned subsidiary GD Express Sdn Bhd (GDSB), is expanding its warehouses, distribution centres and transportation fleet to cater to the huge increase in order volumes following the boom in the e-commerce market.
The expansion will create more than 1,000 jobs for Malaysians, Malaysian Investment Development Authority (Mida) said in a statement.
GDEX has been developing information technology (IT) solutions to support e-commerce activities such as myGDEX.
It is an online shipping platform; cloud-based call centre and interactive voice response (IVR) support to allow companies to deploy call centres in Malaysia.
It also includes the GDEX mobile app which enables couriers to update the status of pick-up and delivery on a real-time basis; e-wallet payment acceptance and GDEX e-commerce integration with online stores such as WOO Commerce, Magento, opencart, NET SHOP, payex and unicart.
GDEX’s long term industry prospect remains bright, analysts opine, particularly as online shopping continues to grow with potential to rival the size and scale of brick-and-mortar retailers in Malaysia.
KUCHING: GD Express Carrier Bhd’s (GDEX) long term industry prospect remains bright, analysts opine, particularly as online shopping continues to grow with potential to rival the size and scale of brick-and-mortar retailers in Malaysia.
With more consumers incorporating online purchases as part of their shopping habit, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) believed that the industry in on track for expansion.
“This in turn will bode well for logistics players as increasing demand will contribute positively to GDEX’s financial performance,” MIDF Research said.
“Furthermore, our view is that online shopping is here to stay and will continue to grow with potential to rival the size and scale of brick and mortar retailers in Malaysia.”
On another note, MIDF Research recalled that GDEX’s wholly owned subsidiary GDSB received an approval letter from the Malaysian Investment Development Authority (MIDA) for the second round of tax incentive.
“This is to carry out Integrated Logistics Services (ILS) activities as an expansion project and e-commerce or e-fulfilment diversity project.
“The tax incentive is one of the initiatives introduced by the Government to enhance the capabilities of logistics services providers, in line with The Logistics and Trade Facilitation Masterplan, introduced by Ministry of Transportation back in 2015.
“At this juncture, the management has yet to quantify the expected amount of tax saving from the incentive as the details are still pending disclosures and negotiation with MIDA.”
Earlier on, MIDF Research had estimated and assessed the potential savings from the incentive.
To reiterate, the research arm estimated the tax impact to uplift the financial year 2022-2023 forecast (FY22F-FY23F) earnings by 10.9 per cent and 9.7 per cent.
This was derived by estimating tax exemption at 70 per cent statutory income (MIDF Research used profit before tax (PBT) as statutory income approximation) and multiplied it with corporate tax rate at 24 per cent, per the research arm’s assumption.
“However, this estimate remains subjected to further disclosure from the management.”
Overall, MIDF Research gathered that GDEX’s lean balance sheet with a net cash position of above RM150 million has supported the group’s various expansion plans.
“This includes the acquisition of a 44.5 per cent stake in PT SAP Express, and the acquisition of 55 per cent stake in a Vietnamese company.
“Meanwhile, valuation remains stretched at a 12-month trailing price-to-earnings ratio of 126.5-fold compared to the average industry of approximately 24.5-fold.”
The research arm believed that other non-listed players such as Ninja Van and J&T will remain as a threat in the next two to three years as these companies continue to aggressively grabbing market share.
“Furthermore, despite our positivity on the impact of the tax scheme, we maintain our call on the company.
“This is premised on the recent price surge that we deemed has accounted for the tax scheme.”
All factors considered, MIDF Research maintained its ‘neutral’ stance on GDEX at this juncture.
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Posted by Gizaa > 2020-11-24 15:04 | Report Abuse
on the way to 0.41 this week