KUALA LUMPUR: CJ Century Logistics Holdings Bhd
’s (Century Logistics) total logistics services segment (TLS), particularly freight forwarding, is expected to face challenges due to the slowdown in South Korea.
MIDF Research noted that the country’s July exports fell by 16.5% year-on-year, with South Korean clients typically contributing 30% to 35% to Century Logistics’ revenue.
“This impact is further heightened by the global freight rates returning to normal levels.
“However, the procurement logistics services (PLS) segment is set to stay strong with China’s reopening ensuring a steady supply of electronic components.”
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