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TOKYO, June 6, 2024 /PRNewswire/ -- Nippon Express Co., Ltd., a group company of NIPPON EXPRESS HOLDINGS, INC., has launched a new air transport service named "NX-FORWARDING - AIR - Ohio Midnight Express." Logo: https://kyodonewsprwire.jp/img/202405311622-O1-g5xyb0A8 PhotoExterior view of Columbus Branch, NX USA: https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202405311622/_prw_PI2fl_8l7i17gH.jpg Background to service developmentOhio is one of the most industrialized states in the U.S.A., with a variety of companies in the automotive-related and other industries operating there. Demand for urgent cargo transport to Ohio is thus on the rise, especially among customers in central Japan, where automotive-related industries are thriving. Cargo bound for Ohio has hitherto been delivered via Chicago's O'Hare Airport, but Nippon Express has developed a high-speed air freight service that utilizes the closer Cincinnati Airport to deliver cargo even faster. Overview of service"NX-FORWARDING - AIR - Ohio Midnight Express" offers the fastest service available, with cargo delivered to Chubu Airport in the evening loaded on a direct flight to Cincinnati late that same night and promptly picked up by NX USA's Columbus Branch (Ohio) upon arrival at Cincinnati Airport. The NX Group operates an international cargo handling site inside Chubu Airport and has its own facility (CFS) in Columbus. Same-day delivery within Ohio is thus made possible by combining transport from the Columbus Branch to the delivery destination with Nippon Express' urgent delivery service (optional). Integrating both arrival and departure operations within the NX Group reduces lead time by approximately one day vis-a-vis the Group's conventional service. Delivery can be arranged not only to Ohio but also to neighboring states such as West Virginia. Operation flow: https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202405311622/_prw_PI3fl_K5c75xK4.png The NX Group will continue developing services to meet urgent transport needs and striving to optimize its customers' supply chains. About the NX Group: https://kyodonewsprwire.jp/attach/202405311622-O1-5j4fU44A.pdf NX Group official website: https://www.nipponexpress.com/ NX Group's official LinkedIn account: https://www.linkedin.com/company/nippon-express-group/
To Strengthen Its Position in EMEA and Global IFF Capabilities HONG KONG SAR - Media OutReach Newswire - 5 March 2024 - Kerry Logistics Network Limited ('Kerry Logistics Network', 'KLN'; Stock Code 0636.HK) announced the acquisition of a majority stake in Business By Air SAS ('BBA'), a leading French international freight forwarding company, to strengthen KLN's position in the EMEA region and international freight forwarding ('IFF') capabilities across the globe. An upstream supply chain specialist in air freight services for diverse industrial clients in verticals including automotive, aerospace and pharmaceutical, as well as an established player in the African market, BBA has been acting as KLN's agent in France since 2016. In addition to multimodal freight forwarding, customs clearance and nationwide trucking, BBA also offers a complete suite of supply chain solutions covering express, on board couriers, project cargo, as well as logistics for fine arts, perishables and personal effects. Vic Cheung, Group Managing Director of Kerry Logistics Network, said, "We are pleased to welcome BBA to KLN's global network. The acquisition is a natural progression in our strategic pursuit of enhancing our IFF service offerings in the EMEA region. With France's position as one of the world's top exporting countries, the addition of BBA will significantly strengthen our foothold in the country. We are looking forward to the synergies created between KLN's ocean freight capabilities and BBA's air freight expertise, and the extension of our service into the niche verticals of fine arts and perishables, which will further boost our global coverage and competency to offer comprehensive and flexible solutions to customers." BBA was founded in 1978 and headquartered in Roissy-en-France, with four other offices in Orly, Nice & Le Havre, as well as an office in Pointe-à-Pitre, Guadeloupe.Hashtag: #KerryLogisticsNetworkThe issuer is solely responsible for the content of this announcement.About Kerry Logistics Network Limited (Stock Code 0636.HK)Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and extensive coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal) and e-commerce to industrial project logistics and infrastructure investment. With a global presence across 60 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world's emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations. Kerry Logistics Network generated a revenue of over HK$86.6 billion in 2022. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index. About Business By Air SASBBA was founded in 1978 as a French-based air freight company, which has grown into providing air, sea, road and multimodal freight forwarding services to and from more than 100 countries. BBA has five branches, namely, the Paris CDG Airport, Paris Orly Airport, Port of Le Havre, Nice and Pointe à Pitre and designs dedicated door to door transportation plans. The company is AEO, ISO 9000 and ISO 14000 certified and possesses customs brokerage licences from e-commerce, perishables, general cargo to fine arts. BBA provides agility and flexibility to add competitive advantages to their clients' supply chain thanks to a solid client facing sales team.
HONG KONG SAR - Media OutReach - 11 November 2021 - Kerry Logistics Network Limited ('Kerry Logistics Network' or 'KLN'; Stock Code 0636.HK) joins forces with Malaysian cargo airline My Jet Xpress Airlines ('My Jet Xpress') to offer customised air freight options within Asia by operating a new solution with the Macau International Airport as the transit hub. The air freight solution was first introduced in March 2021 by the two companies to support one of KLN's e-commerce customers who was struggling at the height of the pandemic to obtain freight capacity from Macau into East Malaysia and Indonesia. A transit hub was subsequently established in Macau for three reasons: its proximity to the customer's distribution centre, its capability to allow carriage of products with batteries and the efficiency of its customs clearance process. From five flights a month, this efficient, reliable and cost-effective customised solution now provides seven to eight flights per week and is going to celebrate its 200th flight soon. Mr Mohamed Yunos Bin Mohamed Ishak, Chairman of My Jet Xpress, said, "My Jet Xpress successfully achieved 98% of on-time performance since we catered to the demand for both these markets. The investment into the new aircraft, two Boeing 737-800F, is about RM40 million to complement our existing three Boeing 737-300F and one Boeing 737-400F planes. With the strong e-commerce market growing rapidly, we acknowledge the consumer demand for greater transparency, speed, and reliability. We are doing our best to fulfil these demands and be relevant to the e-commerce growth. It is also consistent with My Jet Xpress's motto, 'The Way to Go'. We hope to see My Jet Xpress emerge as one of the main players in the air cargo industry, expanding not only in Southeast Asia but also throughout Asia with a larger fleet comprising narrow and wide body aircraft." Mr Mathieu Biron, Managing Director - Global Freight Forwarding of Kerry Logistics Network, said, "The pandemic, while challenging, also gave us an impetus to demonstrate to our customers that we are an agile, flexible and resilient organisation. We designed and launched solutions that enabled us to fill the gap between what limited capacity carriers can provide vis-a-vis the demand from customers. The initiative between My Jet Xpress and KLN is a perfect example of two partners designing a unique solution to support the customers, and it proved effective. We would like to thank My Jet Xpress for partnering with us. I am also proud of our team in the commitment they displayed throughout these challenging times to think outside the box and deliver innovative solutions. At KLN, our focus is on creating value for our customers." Following the success of the Macau solution, My Jet Xpress and KLN are expanding their partnership by introducing more solutions to support the market with scheduled services from Kuala Lumpur and Shenzhen to destinations within Southeast Asia and the Indian subcontinent. By offering scheduled flights and dedicated charters, as well as value-added services including cross-border trucking, warehouse storage and last mile delivery, the new services will be able to support the rapid surge of the e-commerce market, the spike in freight demand and capacity challenges going into the peak season.About Kerry Logistics Network Limited (Stock Code 0636.HK)Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and the strongest coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal), industrial project logistics, to cross-border e-commerce, last-mile fulfilment and infrastructure investment. With a global presence across 58 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world's emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations. Kerry Logistics Network generated a revenue of over HK$53 billion in 2020 and is the largest international logistics company listed on the Hong Kong Stock Exchange.About My Jet Xpress Airlines Sdn BhdAs a reliable cargo airline, My Jet Xpress provides flexibility and a broad range of options best suited to the logistical needs of its customers. It manages general cargo, dangerous goods, and transportation of animals such as horses. We always believe whenever there is a crisis, there will be opportunities. Thus, we take the current crisis as a challenge rather than an obstacle. Undoubtedly, the pandemic has hugely impacted the aviation industry, particularly the airlines with bigger fleet. It is easier for smaller operators like us to maneuver with flexibility under the present situation. #KerryLogistics
HONG KONG, Oct. 2, 2024 /PRNewswire/ -- Korean Air is proud to mark two major milestones: 55 years of passenger service and 50 years of cargo operations to Hong Kong, underscoring its long-standing commitment to connecting Korea and Hong Kong. Korean Air's inaugural flight to Hong Kong took place in October 1969, establishing a vital route that has grown into one of the airline's most important international services. The airline's first international route launched on October 2, 1969, and connected Seoul, Osaka, Taipei, Hong Kong, Saigon and Bangkok. At that time, long-haul routes often included multiple stopovers, benefiting from fifth-freedom traffic rights, and this strategy facilitated regional cooperation, positioning Korean Air as a critical bridge in Asia. In response to increasing demand, Korean Air introduced a direct Seoul-Hong Kong route on December 2, 1969. The airline further expanded its offerings by launching its first cargo service to Hong Kong on September 9, 1974. Over the past five decades, the Hong Kong cargo route has played a pivotal role in Korean Air's cargo operations, connecting Asia with the rest of the world. What started with two weekly passenger flights has grown into 28 weekly flights, making the Hong Kong passenger route the busiest in Korean Air's Greater China network. Recently, the airline expanded its regional presence by launching new services to Macau, further solidifying its position in the Asian market. To commemorate the 55th anniversary, Korean Air is hosting a series of events to thank its customers and reflect on the past five decades of service. On October 2, passengers on Korean Air flight KE172 from Hong Kong to Incheon will have a chance to win special prizes: the 55th passenger to check in will receive a Prestige Class ticket, while the 110th passenger will be awarded an Economy Class ticket for the Hong Kong-Seoul Incheon route. Additionally, on October 17, Korean Air will participate in the "National Day of the Republic of Korea" event, hosted by the Consulate General of the Republic of Korea in Hong Kong. The airline will set up a promotional booth celebrating the cultural and economic connections between Korea and Hong Kong, and visitors will receive limited-edition postcards featuring historical moments from Korean Air's 55 years of service to Hong Kong. Park Ki Tae, Regional General Manager of Korean Air's Hong Kong Passenger Sales Office, remarked on the occasion: "This year marks an important milestone as we celebrate 55 years of passenger services and 50 years of cargo operations to Hong Kong. Korean Air has played a key role in connecting Hong Kong and Korea, not just through transportation, but also by fostering cultural and economic exchanges. We remain committed to serve as a vital bridge between these two regions, while continuously striving to provide our customers with exceptional service."
Cross-Border Airfreight Solutions Surge by 117%, Driving Exceptional Financial Performance ITASCA, Ill., Oct. 1, 2024 /PRNewswire/ -- Lakeside Holding Limited ("Lakeside" or the "Company") (Nasdaq: LSH), a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market operating under the brand American Bear Logistics ("ABL"), today reported financial results for the fiscal year ended June 30, 2024. Fiscal Year 2024 Highlights: Total revenues increased by 42.3% to $18.3 million, driven by a 117.6% rise in airfreight revenues to $10.4 million, partially offset by a 2.5% decrease in ocean freight revenues to $7.9 million. Cost of revenues increased by 41.6% to $14.6 million, primarily due to higher transportation costs, up 27.6% to $7.5 million; warehouse service charges, up 107.5% to $2.9 million; and custom declaration fees, up 50.2% to $2.4 million, as well as overhead costs also rose by 29.6%. Gross profit increased by 44.9% to $3.7 million, with the profit margin rising slightly from 19.9% to 20.3%. This was driven by higher sales and offering a wider range of services, such as warehousing, distribution, and customs clearance, with higher mark-ups. General and administrative expenses rose by 77.5% to $4.1 million, driven by increased staffing costs and higher professional fees for audit and legal services. Net loss for the year ended June 30, 2024 was $0.2 million, compared with a net income of $1.0 million for the year ended June 30, 2023. Operational Achievements: In July, the Company successfully closed an upsized IPO, raising $6.75 million in gross proceeds, underscoring strong investor confidence in its growth potential. The Company entered into a one-year renewable agreement in July with a leading Asia-based e-commerce platform to provide advanced cross-border fulfillment services, enhancing supply chain visibility for sellers through API integration. In August, a strategic partnership was announced with a major social media and e-commerce platform to enhance customs brokerage services, offering real-time logistics data and streamlining customs clearance processes. In September, a Pick & Pack Fulfillment service was launched for a major Chinese logistics company, optimizing inventory management and order processing across U.S. hubs to enhance fulfillment efficiency. The Company expanded its Dallas-Fort Worth operations in September, more than doubling facility space to 46,657 sq. ft. and increasing staffing to support growing demand, while incorporating advanced logistics technology. Management Commentary Henry Liu, Chairman and Chief Executive Officer of Lakeside, commented, "We are pleased to report strong financial performance for fiscal year 2024, highlighted by a 42.3% increase in revenue to $18.3 million. This growth was driven primarily by the 117.6% surge in our cross-border airfreight solutions, as we capitalized on rising demand from the e-commerce sector. Expanding this segment has proven to be a key strategic move, with the volume of air freight processed doubling to over 26,000 tons this year, compared to fiscal year 2023." "We remain committed to providing flexible and competitive services that address the evolving needs of our customers. Our continued investment in workforce expansion and service capacity has allowed us to manage growing demand while maintaining exceptional service levels. With a 44.9% increase in gross profit and improvements in our gross margin, we are excited about the growth opportunities ahead. Our recent service launches, operational expansions, and partnerships with leading e-commerce platforms solidify our position as a trusted provider of seamless, technology-driven logistics solutions, setting the stage for continued success in fiscal year 2025 and beyond," concluded Mr. Liu. Fiscal Year 2024 Conference Call Details The Company has scheduled a conference call and live webcast to discuss its financial results at 8:00 A.M. Eastern Time (8:00 P.M. Beijing Time) on Friday, October 4, 2024. Management will deliver prepared remarks. The dial-in details for the conference call are as follows: Toll-free dial-in number: +1-877-407-9716 International dial-in number: + 1-201-493-6779 Webcast and replay: https://viavid.webcasts.com/starthere.jsp?ei=1691867&tp_key=a2ac91e949 The live audio webcast of the call can also be accessed by visiting Lakeside's Investor Relations page on the Company's website at https://lakeside-holding.com. An archive of the webcast will be available on the Company's website following the live call. About Lakeside Holding Limited Lakeside Holding Limited, based in Itasca, IL, is a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market, including China and South Korea. Operating under the brand American Bear Logistics, we primarily provide customized cross-border ocean freight solutions and airfreight solutions in the U.S. that specifically cater to our customers' requirements and needs in transporting goods into the U.S. We are an Asian American-owned business rooted in the U.S. with in-depth understanding of both the U.S. and Asian international trading and logistics service markets. Our customers are typically Asia- and U.S.-based logistics service companies serving large e-commerce platforms, social commerce platforms, and manufacturers to sell and transport consumer and industrial goods made in Asia into the U.S. For more information, please visit https://lakeside-holding.com. Safe Harbor Statement This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements. Investor Relations Contact: Matthew Abenante, IRCPresidentStrategic Investor Relations, LLCTel: 347-947-2093Email: matthew@strategic-ir.com *** tables follow *** LAKESIDE HOLDING LIMITED CONSOLIDATED BALANCE SHEETS As of As of June 30, June 30, 2024 2023 ASSETS CURRENT ASSETS Cash $ 123,550 $ 174,018 Accounts receivable – third parties, net 2,082,152 1,373,676 Accounts receivable – related party, net 763,285 44,627 Prepayment and other receivable - 52,623 Contract assets 129,506 44,740 Due from related parties 441,279 746,130 Total current assets 3,539,772 2,435,814 NON-CURRENT ASSETS Investment in other entity 15,741 — Property and equipment at cost, net of accumulated depreciation 344,883 489,520 Right of use operating lease assets 3,471,172 2,271,070 Right of use financing lease assets 37,476 48,206 Deferred tax asset 89,581 — Deferred offering costs 1,492,798 90,000 Prepayment, deposit and other receivable 202,336 137,336 Total non-current assets 5,653,987 3,036,132 TOTAL ASSETS $ 9,193,759 $ 5,471,946 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payables – third parties $ 1,161,858 $ 462,214 Accounts payables – related parties 227,722 365,413 Accrued liabilities and other payables 1,335,804 325,701 Current portion of obligations under operating leases 1,186,809 769,782 Current portion of obligations under financing leases 37,619 42,889 Loans payable, current 746,962 586,688 Dividend payable 98,850 98,850 Tax payable 79,825 32,829 Due to shareholders 1,018,281 90,000 Total current liabilities 5,893,730 2,774,366 NON-CURRENT LIABILITIES Loans payable, non-current 136,375 231,599 Deferred tax liability - 24,752 Obligations under operating leases, non-current 2,506,402 1,564,633 Obligations under financing leases, non-current 17,460 21,836 Total non-current liabilities 2,660,237 1,842,820 TOTAL LIABILITIES $ 8,553,967 $ 4,617,186 Commitments and Contingencies EQUITY Common stocks, $0.0001 par value, 200,000,000 shares authorized, 6,000,000 and 6,000,000 issued and outstanding as of June 30, 2024 and 2023, respectively* 600 600 Subscription receivable (600) (600) Additional paid-in capital 642,639 - Accumulated other comprehensive income (loss) 2,972 (244) (Deficits) Retained earnings (5,819) 862,072 Total stockholders' equity 639,792 861,828 Non-controlling interests in subsidiary - (7,068) Total equity 639,792 854,760 TOTAL LIABILITIES AND EQUITY $ 9,193,759 $ 5,471,946 LAKESIDE HOLDING LIMITED CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) For the Years Ended June 30, 2024 2023 Revenue from third party $ 16,450,908 $ 12,763,577 Revenue from related parties 1,864,247 109,314 Total revenue 18,315,155 12,872,891 Cost of revenue from third party 12,316,374 8,385,222 Cost of revenue from related parties 2,282,824 1,923,380 Total cost of revenue 14,599,198 10,308,602 Gross profit 3,715,957 2,564,289 Operating expenses: Selling expense 2,500 79,822 General and administrative expenses 4,138,190 2,331,312 Loss from deconsolidation of a subsidiary 73,151 - Provision (reversal) of allowance for expected credit loss 28,157 (93,742) Total operating expenses 4,241,998 2,317,392 (Loss) Income from operations (526,041) 246,897 Other income (expense): Other income, net 338,435 885,501 Interest expense (108,008) (123,600) Total other income, net 230,427 761,901 (Loss) Income before income taxes (295,614) 1,008,798 Credit (Provision) for income taxes 67,337 (65,068) Net (loss) income and comprehensive (loss) income (228,277) 943,730 Net loss attributable to non-controlling interest (3,025) (39,872) Net (loss) income attributable to common stockholders (225,252) 983,602 Other comprehensive (loss) income Foreign currency translation gain (loss) 3,122 (255) Comprehensive (loss) income (225,155) 943,475 Less: comprehensive loss attributable to non-controlling interest (3,119) (39,883) Comprehensive (loss) income attributable to the Company $ (222,036) $ 983,358 (Loss) earnings per share – basic and diluted $ (0.04) $ 0.16 Weighted average shares outstanding – basic and diluted* 6,000,000 6,000,000 For the Years Ended June 30, 2024 2023 Pro Forma information Statement for Income Tax Provision as a C Corporation upon Reorganization (Loss) Income before income taxes $ (295,614) $ 1,008,798 Credit (Provision) for income taxes 239,466 (307,683) Net (loss) income and comprehensive (loss) income $ (56,148) $ 701,115 Net loss attributable to non-controlling interests (3,025) (39,872) Net (loss) income attributable to common stockholders (53,123) 740,987 Other Comprehensive income (loss) Foreign currency translation (loss) gain 3,122 (255) Comprehensive (loss) income (53,026) 700,860 Less: net loss attributable to non-controlling interest (3,119) (39,883) Comprehensive (loss) income attributable to the Company $ (49,907) $ 740,743 (Loss) Earnings per share – Basic and diluted* $ (0.01) $ 0.12 Weighted Average Shares Outstanding – Basic and diluted* 6,000,000 6,000,000 LAKESIDE HOLDING LIMITED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended June 30, 2024 2023 (Revised) Cash flows from operating activities: Net (loss) income $ (228,277) $ 943,730 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation – G&A 71,980 130,755 Depreciation – overhead cost 72,657 - Non-cash operating lease expense 1,005,686 826,284 Depreciation of right-of-use finance assets 30,712 31,780 Provision (Reversal) of allowance for expected credit loss 28,157 (93,742) Deferred tax (benefit) expense (114,333) 32,239 Loss from derecognition of shares in subsidiary 73,151 — Changes in operating assets and liabilities: Accounts receivable – third parties (722,522) (506,152) Accounts receivable – related parties (732,769) (28,887) Contract assets (84,766) 54,441 Due from related party 328,820 (579,496) Prepayment, other deposit (12,377) 18,672 Accounts payables – third parties 699,644 54,410 Accounts payables – related parties (137,691) (101,896) Accrued expense and other payables 468,284 57,701 Tax payable 46,996 32,829 Lease liabilities – Operating lease (846,992) (833,365) Net cash (used in) provided by operating activities (53,640) 39,303 Cash flows from investing activities: Payment made for investment in other entity (29,906) — Net cash outflow from deconsolidation of a subsidiary (Appendix A) (48,893) — Acquisition of property and equipment — (18,288) Net cash used in investing activities (78,799) (18,288) Cash flows from financing activities: Proceeds from loans 400,000 — Repayment of loans (214,986) (100,864) Repayment of equipment and vehicle loans (119,964) (104,598) Principal payment of finance lease liabilities (29,628) (20,640) Payment for deferred offering cost (170,000) (90,000) Advance to related parties (23,969) — Proceeds from shareholders 237,302 110,550 Repayment to shareholders — (47,536) Net cash provided by (used in) financing activities 78,755 (253,088) Effect of exchange rate changes on cash and cash equivalents 3,216 32,560 Net decrease in cash (50,468) (199,513) Cash, beginning of the year 174,018 373,531 Cash, end of the year $ 123,550 $ 174,018 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for income tax $ — $ — Cash paid for interest $ 31,161 $ 26,474 SUPPLEMENTAL SCHEDULE OF NON-CASH IN FINANCING ACTIVITIES Deferred offering costs within due to shareholders $ 860,979 $ 90,000 Deferred offering costs within accrued expense and other payables $ 541,819 $ — NON-CASH ACTIVITIES Dividends declared $ — $ 200,000 Dividends declared and offset against due from shareholders $ — $ 101,150 Property and equipment additions included in loan payable $ — $ 98,245 Right of use assets obtained in exchange for operating lease obligations $ 2,094,498 $ 124,600 Right of use assets obtained in exchange for finance lease obligation $ 19,982 $ 32,107 APPENDIX A – Net cash outflow from deconsolidation of a subsidiary Working capital, net $ 29,812 $ — Investment in other entity recognized (15,741) — Elimination of NCl at deconsolidation of a subsidiary 10,187 — Loss from deconsolidation of a subsidiary (73,151) — Cash $ (48,893) $ —
SINGAPORE – Media OutReach Newswire - 18 September 2024 – Rhenus Group, a leading global logistics provider, has been selected to play a key role in the upcoming 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan. As the Official Logistics Partner, Rhenus will leverage its expertise and resources, working alongside local partners to ensure the smooth running of this major event. Participants, including heads of state, negotiators, and industry leaders, will gather in Baku for COP29 to address the most pressing challenges of climate change. To meet the specific demands of COP29, Rhenus will draw on its extensive experience in planning and executing complex logistics for large-scale events, while benefiting from the expertise of local partners. The company's global network and expertise will be instrumental in ensuring seamless operations and efficient processes throughout the entire supply chain. With operations in over 70 countries, Rhenus is ideally positioned to take on the central role of organizing the event's freight forwarding logistics. This includes everything from the intercontinental transport of goods using various modes of transport, customs clearance, warehousing, and last-mile delivery to logistics within the event venue itself. An onsite team of international logistics experts will also be present to assist participants with their end-to-end and local logistics needs, ensuring smooth coordination from international freight forwarding to venue delivery. "We are proud to bring our extensive experience to such an impactful event: COP29 plays a crucial role in becoming a climate-neutral society and thus in shaping the future of generations to come," says Tobias Bartz, CEO of the Rhenus Group. "With a strong global network as well as significant projects in the region and our ongoing commitment to strengthening supply chains in South Caucasus and Central Asia, a region that is vital for global trade, we are dedicated to enhancing the stability and capacity of sustainable and efficient logistics solutions. At COP29, we look forward to utilizing our strong presence in Azerbaijan and the whole region to contribute to the success of this important global event, while continuing to strengthen the Trans-Caspian International Transport Route, a key trade route on the New Silk Way, extending from China to Europe across Kazakhstan, the Caspian Sea, and the Caucasus into Türkiye." Rhenus recently demonstrated its capabilities as the Official Logistics Partner for the Olympic team Belgium at the Olympic Summer Games in Paris, successfully managing the international logistics of infrastructure and equipment across multiple-sports venues. This seamless coordination across multiple modes of transport, including road, air, rail, and ocean freight, highlights Rhenus' proficiency in handling the complex logistics of major international events like COP29. Another major events project was Rhenus' comprehensive logistics support for a global customer during the Rio de Janeiro Summer Olympics, further reinforcing the company's ability to handle high-profile international events. Additionally, Rhenus has been working with the United Nations for nearly two decades as the authorized agent for the UN World Food Programme, shipping over 700,000 tons of commodities. Concrete Measures for a Climate-Friendly COP29 Organizing COP29 in Baku presents unique logistical considerations that Rhenus is dedicated to addressing while prioritizing sustainability. The company is actively committed to minimizing the environmental impact of COP29, focusing on reducing emissions through the use of electric warehouse vehicles within the logistics centers, which will contribute to a more environmentally friendly event. In addition, Rhenus will be offering its RHEGREEN service during COP29, which allows customers to actively reduce the CO2 emissions of their shipments. With RHEGREEN, a CO2 efficiency tool specifically designed for air freight, customers can identify the lowest-emission flight connection for their shipments, potentially saving up to 40 percent CO2 per transport. This service underscores the Rhenus Group dedication to responsible logistics solutions and environmental protection. Hashtag: #RhenusThe issuer is solely responsible for the content of this announcement.About RhenusThe Rhenus Group is one of the leading logistics specialists with global business activities and annual sales of 7.5 billion euros. 40,000 employees work at 1,320 locations in more than 70 countries, developing innovative solutions along the entire supply chain. Whether it's transport, warehousing, customs clearance, or value-added services, the family-owned company bundles its activities in various business areas, always focusing on the needs of its customers. Further information about the Rhenus Group: https://www.rhenus.group/
A12 藝術空間
Air Freight
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