Malaysian parcels company GD Express (GDEX), one of the largest independent players in the country’s expanding express market, is targeting strong growth in 2008 under a new CEO.
With effect from January 1, Teong Teck Lean resigned as chief executive officer, paving theway for his former deputy chief executive Leong Chee Tong to assume the position. This was part ofthe company’s succession plan, GDEX said in a statement. Teong will remain deputy chairman andoversee group strategy.
GDEX will expand parcel handling capacity at its head office substantially later this yearwith the implementation of a new integrated hub management system (IHMS) that will take dailycapacity to 60,000 items from 25,000 at present, the locally-based newspaper The Edge reported. Thecompany will also add 30 more vehicles.
Leong was cited as saying that GDEX aims to broaden its services into logistics as companiesstarted to outsource more operations.
Outgoing CEO Teong noted that competition was intensifying due to price competition, risingcosts and higher customer expectations. GDEX did not exclude acquisitions in order to grow itsbusiness as the industry consolidated, he added.
