Deugro
Continued expansion in Asia for deugro Asia Outlook talks to Sven Hergemoeller, deugro's Regional Vice President for Southeast Asia. Writer Ian Armitage Project manager James Mitchell Founded in Germany in 1924, the deugro Group is one of the world's leading project freight forwarding companies and has completed complicated turnkey logistics contracts on almost every continent. deugro is historically known for project logistics, specialising in turnkey projects and complicated cargo moves to and from major industrial sectors. It is also active in international freight services such as sea freight and airfreight. "We are a global leader in our niche of project logistics and freight forwarding," says Sven Hergemoeller, deugro's Regional Vice President for Southeast Asia. "deugro is a truly global presence but significantly we remain a privately held, family organisation in the third generation. We are highly specialised offering a diversified portfolio of services to a variety of clients located in every corner of the globe. Our company slogan is "Minds over Matter" and our strength and competitive advantage lies in our people – they are our most valuable resource. This, and close working relationships with our clients, distinguishes us from our competitors and provides a platform for future growth, flexibility and superior service." He says deugro takes "the best minds to make the right moves." "Our philosophy is to get the best people in the industry. Our people really do make the difference." deugro has enjoyed substantial growth over the last year and it aims to continue to expand its core business in existing and new…
China inflation data shows recovery is weak
China's consumer price index (CPI) dropped dramatically in March official data released today shows, indicating that the recovery in the world's second-largest economy is still weak. The CPI came in at 2.1 percent, the National Bureau of Statistics (NBS) said, down from 3.2 percent in February when prices spiked during the Lunar New Year holiday. A year ago, China was experiencing an annual inflation rate of almost four percent. Food prices remained a leading driver of inflation in March, rising 2.7 percent year on year, although easing from a six percent increase in February. China has set its inflation target for this year of 3.5 percent. Separately, Chinese stocks slumped to their lowest level in 2013 on Monday, following a fresh bird flu scare. Image: © Getty Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.
Goodman fund acquires stake in Hong Kong port terminal
Sydney-based property fund manager Goodman Group has acquired a 25 percent stake in ATL Logistics Centre Hong Kong (ATL), the world's largest logistics facility. Goodman's Goodman Hong Kong Logistics Fund (GHKLF) acquired the interest in ATL through a co-ownership arrangement with DP World - one of the world's largest terminal operators. It also got an ownership interest in CSX World Terminals Hong Kong. Goodman said the acquisition would further consolidate its position as a leading player in the Greater China market. The co-owners will continue to oversee the management of ATL and the associated container terminal, consistent with the respective expertise of both parties. The transaction will be primarily funded via a $300 million targeted equity raising by the logistics fund, which has been fully subscribed by its existing investors. Goodman's Managing Director Greater China, Mr Philip Pearce said: "The transaction cements Goodman's position as a leading player in the Greater China logistics property market. ATL further enhances Goodman's ability to service its global customers across the region and combined with our development pipeline of more than four million sqm in China, Goodman is well positioned to take advantage of opportunities stemming from the continued economic growth in this key market." ATL is a 13 storey, ramp up logistics facility, constructed in five phases between 1984 and 1994. With a lettable area of 552,000 sqm, it is the world's largest logistics building. The facility is currently 98 percent leased to 60 customers. Goodman's Group Chief Executive Officer, Mr Greg Goodman said: "We are delighted with the…
