Agility acquires warehouse in Singapore

22/03/2017 05:48 AST

Agility, a Dubai-listed logistics provider, announced on Tuesday it has acquired a two-storey warehouse close to Singapore's Changi International Airport, giving the company over 600,000 square feet of warehouse space in the Southeast Asian country.

Agility said in a statement that the newly-acquired 177,000-square-foot warehouse is located in an area with access to various logistics services and two major expressways.

Mykell Lee, Agility's chief executive officer in Singapore, said the company's decision to invest 25.5 million Singapore dollars (Dh66.95 million) in the warehouse is a sign of belief in Singapore as one of the world's main transportation and shipping hubs.

He said the acquisition gives Agility more capacity to add to its service offering. The company is planning to add new services such as automated quality inspections, container-management e-system, and a recycling program for packing materials, among others.

Agility's acquisition comes as Singapore is expanding and upgrading port and airport infrastructure as part of its plans to strengthen its position as a global logistics powerhouse. On Monday, Agility also released its full consolidated financial results for 2016. The company recorded 59 million Kuwaiti dinars (Dh708.84 million) in profit attributable to equity holders of the parent company, up from 53 million Kuwaiti dinars a year earlier.


Gulfnews

News

Agility 2017 net profit surges 16pc to hit $228m

22/02/2018

Kuwait-based Agility, a leading global logistics provider, has reported a net profit of KD68.5 million ($228 million) for 2017, as against KD59.1 million in the previous year, marking an increase of

Trade Arabia

Agility eyes a bigger slice of Middle East's energy sector

09/02/2018

Agility, one of the region's largest logistics firms, expects to win a larger share of oil and gas projects in Mena as governments ramp up spending to boost production, company executives said.
<

The National

Kuwait's Agility reports 17.4% third quarter profit rise

05/11/2017

Kuwait's Agility, one of top logistics firm in the Middle East, said its third quarter net profit climbed 17.4 per cent, driven by strong performance of global logistics business and companies includ

The National

Most Viewed Companies

Ticker Price Volume
NAYIFAT 13.94 229,739
RIBL 24.84 6,676,931
ABC 0.35 370,000
DIC 2.07 2,049,713
ALRAJHI 85.00 7,711,297
A.OTHAIMMARKET 11.90 545,416
ZAINKSA 10.82 1,868,409

Valuation

AGLTY Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Top Related Companies

Ticker Price Change
PAPER 191.00 0.00 (0.00%)
AIRARABIA 2.70 -0.05 (-1.82%)
DIC 2.07 -0.01 (-0.49%)
AGLTY.DFM 2.86 -0.05 (-1.72%)
NIND.DFM 5.00 0.00 (0.00%)

Recent News

EEC's capital optimization plan to shore up financial position and sustain growth: CEO

14/09/2024

RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <

Saudi Gazette

Arabian Mills set final IPO price at $17.59 per share as CEO details growth vision

12/09/2024

Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces

Arab News

SABIC-MCC joint venture starts output

04/05/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

logo

Financial Information Co.

(MITCO), P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap