2Go Group’s new chairman Francis Chua revealed this to reporters saying the company has grand plans to further enhance its integrated logistics business in the country and abroad.
“We are getting Cosco chairman Capt. Wei Jaifu as our strategic partner, if not as an equity investor,” Chua said.
He, however, refused to reveal the investment requirement to support the growth plans for the publicly-listed company.
Capt. Wei had planned earlier to undertake an integrated international logistics project in the country in two separate areas – one in Subic for its logistics, shipbuilding and industrial zone components and another in Sangley Point in Cavite City for ship repair and maintenance facilities plus a maritime school. The project was estimated to cost $5 billion. This was, however, put on hold because of the global financial crisis in 2009, but has remained interested with the project. The global financial crisis has adversely affected shipping operations because of the low volume of trade.
According to Chua, 2Go has evolved to become the country’s biggest logistics firm providing end-to-end solutions not just for the movement of goods and passengers but inventory, warehousing and distribution.
“We will do everything for you. This is now the direction of the company to come up with better service for our clients,” Chua said noting it has ships, trucks, port infrastructure and network nationwide to move goods anywhere in the country.
2Go is now the country’s biggest shipping operator with 31 vessels.
With Cosco, he said, it would be easier for the company to expand into the international market in the future.
“With Cosco alliance, we could reach the international market. We can deliver from Mindanao to China and vice versa,” he said.
Chua said this plan is in support of the growing trade here and in the international market.
http://www.mb.com.ph/node/357169/2go-co
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