TNT Philippines to open two new depots

MANILA, Philippines - TNT Philippines, a leader in the express and logistics industry, is set to open two new depots in the country and invest about P20 million as it expects to end the year with at least a 24 percent growth in revenues and transaction volume.

TNT Philippines country general manager Cetin Yalcin said they are looking at a double-digit growth in volume of transactions in the Philippines, largely brought about by the recovery of the local semiconductor industry.

“We envision a 25 percent to 30 percent growth in our local operations this year,” Yalcin said, adding that the semi-conductor industry, which comprises more than 30 percent of their local clients, has shown continued growth in exports especially those going to Southeast Asia and Europe.

Data from the National Statistics Office show that electronic exports grew by 8.09 percent month-on-month in January and 51.19 percent year-on-year.

Yalcin noted that the surge of imports coming from China and India also serves as an area of growth for TNT, stimulated by the company’s recently launched web-based system and heavy presence in these countries.

TNT Philippines experienced single-digit growth in revenues in 2009. The firm’s total volume of transaction last year reached two million kilograms.

“We have posted more than 30 percent growth in our import shipments despite the country’s import sector’s negative posting of 26.8 percent. We also met our objective of expanding our freight services with more than 16 percent increase in total shipments,” Yalcin said.

Meanwhile, TNT Philippines is opening two new depots this year to accommodate the increasing local operations of the firm.

“We are earmarking around P20 million for investments this year,” he said, explaining that bulk of the amount will be allotted for the establishment of new depots.

The first depot will be located in Laguna and will open in June while the second one is in Cebu and will open in September or October.