October 22, 2003
Shenzhen, a special economic zone, is located in the fast-growing Zhujiang (Pearl River) Delta area,, and near Hong Kong, a key worldwide economic and logistics hub. With its proximity to the inland cities of Dongguan and Guangzhou, where many foreign corporations, including Japanese firms, are building factories. Shenzhen is also the gateway to Southern China. MOL Logistics (Hong Kong) has earned an excellent reputation for reliable service, and Shanghai HuaJia International Freight Forwarding recently acquired a first-class international freight forwarding agent's license. By teaming up to open the Shenzhen branch office, they will be able to make and receive payments in Chinese currency and offer services such as air cargo transport, ocean transport, warehousing, land transport, customs clearance, bill of lading (B/L) issuance, and so on.
Our future approaches: The new business structure in China allows the company to offer a new level of service, taking advantage of Shanghai HuaJia International Freight Forwarding's acquisition of a first-class international freight forwarding agent's license. In addition, China's membership in the World Trade Organization and the conclusion of the Closer Economic Partnership Agreement (CEPA) with Hong Kong are expected to create a range of new business opportunities, particularly in Hong Kong and throughout Southern China. From this point of view, the opening of the Shenzhen Branch will assist customers with an expanded range of logistics services. MOL Logistics will continue working to meet diversifying customer needs by enhancing its service network in the rapidly growing Chinese market and around the world.
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October 17, 2003
An MOL Logistics affiliate in Canada already owned 25.5% of Shanghai HuaJia International shares, and with MOL Logistics (Japan)'s acquisition of an additional 25%, the MOL Logistics Group will hold 50.5% ownership. In addition, MOL Logistics (Japan) will allocate directors to Shanghai HuaJia International. And MOL Logistics (Japan) have agreed with concerned parties that if the Chinese government removes restrictions on foreign capitalization, MOL Logistics will acquire an additional 25% ownership in Shanghai HuaJia International. Shanghai HuaJia International, now clearly positioned as an MOL Logistics Group company, will further enhance its services to meet the needs of its customers around the world. MOL Logistics (Japan) will expand its worldwide network and enhance its sales capabilities and competitiveness as the core logistics company of the Mitsui O.S.K. Lines, Ltd. (MOL) Group. The company acquired a CAAC first class cargo sales agent's license in August, opened a new office in Hangzhou in September, and will open a Shenzhen branch in cooperation with a subsidiary in Hong Kong later this month. As part of the expanding MOL Logistics (Japan) Group network , Shanghai HuaJia International continues to strengthen its organization to meet a broader range of customer needs for logistics services and domestic physical distribution in China. New Structure of Shanghai HuaJia International Freight Forwarding Co., Ltd.
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