The supply chain disruption, which led to global container shipping rates increasing to four to five times 2019 levels, is unlikely to ease anytime soon, predicts Chew Chong Keat, group managing director of FM Global Logistics Holdings Bhd (FM Global), formerly known as Freight Management Holdings Bhd.

FM Global Logistics Holdings Bhd (formerly Freight Management Holdings Bhd) posted a 77.6% year-on-year (y-o-y) increase in pre-tax profit to RM16.4mil for the second quarter of its financial year ending June 30, 2022.

Freight Management Holdings Bhd is buying three US-based freight forwarding services companies for a combined US$2.2 million (approximately RM9.2 million), as part of the group's expansion initiatives into selective international markets.

Freight Management Holdings Bhd’s net profit climbed 61.41% to RM6.65 million in the second quarter ended Dec 31, 2020 (2QFY21), from RM4.12 million a year ago on the back of higher revenue.

Freight Management Holdings Bhd (FM) does not want to be too Malaysia-centric, especially when bigger markets beckon.

Freight Management Holdings Bhd plans to exit the marine transport business, which has been a drag on its performance in the past few years.

The Malaysian Investment Development Authority on behalf of the government has given Freight Management Holdings Bhd’s wholly owned subsidiary, FM Global Logistics (M) Sdn Bhd, a special incentive package for the development of an e-commerce fulfilment hub in Shah Alam, Selangor.

FM Global Logistics (M) Sdn Bhd has been granted a special incentive package from the Malaysian Investment Development Authority (Mida) for development of an e-Commerce fulfilment hub in Shah Alam, Selangor.