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LEO Reveals Its 2021 Shareholders Meeting Results
LEO Global Logistics PCL. (LEO), an end-to-end global logistics provider, recently held its 2021 shareholders meeting via an online platform.
As the meeting began, Mr. Kettivit Sittisoontornwong, Chief Executive Officer of LEO, revealed that the company concluded to pay 0.07 THB of dividends per shareholder to 320,000,000 shares. The total dividends are 22.4 THB. LEO listed the entitled shareholders to receive dividends on May 11th, 2021, and the entitled shareholders will receive dividends on May 27th, 2021.
As the meeting continued, LEO announced plans to lease 2,120 square meters of land on Charoen Krung Road for 25 years to develop its new Leo Self Storage facility. The company will invest 147.22 million THB in the 2,193 square-meter self-storage facility.
“LEO has proceeded to expand two to three thousand square meters of its self-storage service. The service will be titled ‘LEO Self Storage China Town’ and will be placed near Yaowarat Chinatown, one of Bangkok’s key business areas. We are determined to establish this self-storage facility as LEO’s flagship self-storage center. We have designed the facility with a contemporary concept, blending Thai and Chinese cultures to reflect the way of Chinese communities in Thailand,” said Mr. Sittisoontornwong.
“We are also proceeding with construction of our second container depot in the Bangna-Trad Road area, in support of the current demand which emerged as a result of the industry’s container depot shortage. We will be able to initiate this project within the fourth quarter of 2021,” he continued.
The Chief Executive of LEO also revealed that the company’s overall business in the first quarter of 2021 improved over the same period last year. This results from the rising demand for cargo transportation services and the recovering global economy that’s starting to get back on its feet thanks to the rollout of COVID-19 vaccinations in several countries worldwide. In general, the expansion of logistics businesses and international cargo transportation businesses continued throughout the first quarter of 2021.
This year, LEO has set its eyes upon increasing its business profit by 25%. The company hopes to achieve this with a combined income, including some of its new joint ventures. One such venture with Cardinal Maritime (Thailand) and Cardinal UK aims to provide logistics and international transportation service in England and Northern Europe.
Furthermore, the end-to-end global logistics provider has prepared 200 million THB for M & M&A and the expansion of logistics-related businesses. Plus, the company plans to enter into negotiations to form new alliances soon. As the meeting concluded, LEO announced that it aims to double its 2021 sales to two billion THB per year in 2023.