Kerry Logistics
# Kerry Logistics

Kerry Logistics Network Limited is a listed company engaged in third party logistics, freight services, warehouse operations, and supply chain solutions. It was listed on 19 December 2013, raising over US$280 million, as a spin-off of Kerry Properties Limited.

Kerry Logistics is headquartered in Kwai Chung, Hong Kong. As of 2020, they managed 74 million square feet (6,900,000 $m^2)$ of logistics facilities globally (24 million square feet [2,200,000 $m^2]$ of which is self-owned), with a fleet of 10,000+ self-owned vehicles operating in 59 countries and territories.

The parent company of SF Express, SF Holding, has acquired a 51.8% stake in Kerry Logistics, for HKD 17.6 billion in 2021.

## Hong Kong

Before incorporation, its first established warehouse in Hong Kong was built in 1981. By 1991, the Group had five warehouses and acquired one warehouse with an aggregate GFA of approximately 2 million square feet (200,000 $m^2).$ The company was established in 1991. In 1999, they opened their flagship logistics facility, Kerry Cargo Centre, a 1.4-million-square-foot (130,000 $m^2)$ multi-storey combined logistics facility and global HQ office.

The company name was changed to “Kerry Logistics Network Limited” in 2000, the same year they began to provide truck freight services to warehousing customers. International freight forwarding operations also began shortly after in Hong Kong through the acquisition of Kerry Freight (Hong Kong) Limited (previously named “R&B Transports Limited”).

As of 2016, Kerry Logistics owned 12 logistics facilities in Hong Kong with a total GFA of 6.3 million square feet (590,000 $m^2).$

The Group generated a revenue of over HK$53 billion in 2020 and is the largest international logistics company listed on the Hong Kong Stock Exchange (Stock Code 0636.HK) as well as a selected Member of the Hang Seng Corporate Sustainability Index Series 2020-2021.

## Mainland China

In 2003, in collaboration with a joint venture partner, the first logistics centre in China was developed. In 2005, the China division acquired a 70% equity interest in EAS, and the new joint entity was renamed Kerry EAS Logistics ("KEAS"). EAS, a Chinese state-owned enterprise, was one of the leading domestic freight and warehousing entities in China at the time.

As of the end of 2016, KEAS managed approximately 5 million square feet (500,000 $m^2)$ of self-owned logistics facilities and approximately 8 million square feet (700,000 $m^2)$ of leased logistics facilities in China. The revenue in Mainland China was HK$8 billion, or about 38% of the total group revenue.

## Taiwan

In 2004, KLN commenced freight forwarding operations in Taiwan. In 2008, they acquired an initial equity interest in Kerry TJ Logistics, previously named “T. Join Transportation Co., Ltd”. As of the end of 2016, KLN held a total equity interest of approximately 49.67% in Kerry TJ Logistics.

Kerry TJ Logistics is a major logistics service provider in Taiwan whose shares have been listed on the Taiwan Stock Exchange since 1990. It has an extensive distribution network supported by a fleet of more than 3,000 trucks.

## ASEAN

KLN's business in ASEAN (Southeast Asia) started in 2002, with both integrated logistics and international freight forwarding operations in Thailand. In 2003, KLN completed the development of a logistics centre, with a total GFA of approximately 181,000 square feet (17,000 $m^2),$ in Thailand's largest sea port in Laem Chabang, south of Bangkok. In 2004, KLN acquired an initial equity interest in Kerry Siam Seaport Limited (formerly Siam Seaport Terminal & Warehouses Co., Ltd.). As of 2013, KLN holds 79.52% interest in Kerry Siam Seaport Limited. Kerry Siam Seaport Limited operates Kerry Siam Seaport, a multi-purpose port terminal located near Laem Chabang.

As of 2013, KLN managed approximately 6 million square feet (600,000 $m^2)$ of completed self-owned facilities (representing an attributable GFA of approximately 4 million square feet [400,000 $m^2])$ and approximately 3 million square feet (300,000 $m^2)$ of leased facilities in Thailand where Kerry Logistics trades as Kerry Express.

Since 2004, KLN has continued to expand into other ASEAN countries by establishing international freight offices in Singapore, Malaysia, Indonesia, Cambodia, the Philippines, Vietnam and Myanmar.

## United Kingdom

KLN commenced European freight forwarding operations in the United Kingdom in 2002, by acquiring an initial equity interest in Kerry Logistics (UK) (previously named “Trident International Limited”). In 2013, KLN acquired the remaining equity interest, making Kerry Logistics (UK) a wholly owned subsidiary of KLN.

## Indev Logistics, India

On 13 April 2016, Kerry Logistics announced the acquisition of a 50% stake in Indev Logistics Pvt. Ltd. (Indev), a Chennai-based logistics company. The stake value is estimated to be around Rs 1,000 crore. By 2018, the company is also planning to list in the Indian markets. Once this investment plan takes effect, Indev will be rebranded as Kerry-INDEV, in line with Kerry's ambition to becoming a major pan-Indian logistics company with an India focus.

