June 28, 2004
This certification covers five fields - logistics service, maritime transport service, storage and warehousing service, freight transportation by road in trucks or cars, and freight forwarding agency services. This allows MOL Logistics (H.K.) to establish a wholly owned subsidiary in China. The company will now begin application to the Chinese government to set up a subsidiary in Guangzhou city, Guangdong Province. The city is in the center of the Pearl River Delta Economic Zone, an area enjoying tremendous economic growth thanks to an expanding automobile industry and a new Baiyun Airport opening soon.
MOL Logistics (Japan) Co., Ltd., as a core total logistics company of the MOL Group, has worked to develop and expand its worldwide network, enhance its marketing and sales capabilities, and boost its competitiveness. It has continued to expand its network - opening a branch of its Shanghai subsidiary in Shenzhen in October 2003, and then the Guangzhou Representative Office of MOL Logistics (H.K.) early this month. Moving ahead from the certification of MOL Logistics (H.K.) as a Hong Kong Service Supplier under CEPA, the company will continue to focus its resources on the Chinese market, which still holds huge potential for growth, developing services such as inland truck transport. This marks a major step in the MOL Group's growth and expansion.
* CEPA: Closer Economic Partnership Arrangement, a free trade agreement signed in June 2003 between the government of the People's Republic of China and the government of the Hong Kong Special Administrative Region of the People's Republic of China.
* For further information, please contact:
MOL Logistics (H.K.) Ltd.