Hong Kong freight provider ASR Holdings to expand mainland presence
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HONG KONG's air freight solutions provider ASR Holdings will more than double its mainland presence in logistic centres and sales offices from its current 14 to as many as 33 by 2014.
Air cargo space is sold wholesale market for airlines in bulk to mid-sized couriers on outbound air routes originating from the Pearl River Delta, predominantly Hong Kong to worldwide destinations.
Its aim is to focus on emerging markets such as Eastern Europe rather than more competitive areas of the world, said its chairman Sunny Yu Ho-yuen, of a company founded by Hong Kong-based airline veterans at the start of 2012.
ASR Holdings increased revenue by 23 per cent to HK$603 million (US$77.7 million) despite a global air cargo decline of 8.3 per cent.
The Hong Kong Standard also reported that executive director Niki Law Kai-lo said that "by doing business for less-crowded airlines, we can sometimes become the sole distributor of cargo space for air flights, so we can command much better margins."
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