Tiong Nam returns to the black in first quarter

TheStar Tue, Aug 24, 2021 08:10am - 2 years View Original


Revenue for logistics, warehousing services increases

KUALA LUMPUR: Logistics solutions provider Tiong Nam Logistics Holdings Bhd recorded a net profit of RM1.55mil in the first quarter ended June 30 (Q1’21) from a net loss of RM5.53mil a year ago, thanks to increasing demand for the logistics and warehousing services from existing and new customers.

In a statement yesterday, its managing director Ong Yoong Nyock (pic below) said the group is seeing significant logistics demand across the wide range of industries it is serving in line with the improving vaccination rates in the country and gradual reopening of various sectors.

“For example, the food and beverage (F&B), information technology (IT), electrical and electronics (E&E) sectors have seen exceptional growth in activity due to the work-from-home and e-commence trends,” he added.

Tiong Nam Ong Yoong NyockTiong Nam Ong Yoong Nyock

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