Friday 21 Jun 2024
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KUALA LUMPUR (Dec 14): Capital A Bhd's logistics venture Teleport has raised new growth capital of US$50 million (RM220 million) from large institutional credit investors to extend its cross-border delivery capabilities in all key Southeast Asian markets. 

Capital A was formerly known as AirAsia Group Bhd.

In a statement on Wednesday (Dec 14), the group said Teleport will use the funds to induct additional freighters, build critical hubs in Indonesia, the Philippines and Malaysia, and further invest in technology that allows anyone to "teleport it" in 24 hours across Southeast Asia.

Teleport chief executive officer Pete Chareonwongsak said the company's mission from day one was to deliver consistently better than anybody else in Southeast Asia.

“We believe if we guarantee next-day speed at a cost anyone can afford, everyone will choose to ‘teleport it’.

“Today, we are profitable, larger, and growing faster than the pre-Covid [times]. We are battle-tested, and believe a challenging environment is the perfect opportunity to build the leading cross-border logistics company in Southeast Asia,” he said.

Capital A said Teleport had quadrupled its intra-Southeast Asian market share in terms of cargo volume from 2% in 2021 to 9% as at the third quarter of 2022, and grew its e-commerce business six times year-on-year.

The logistics venture of Capital A is also currently serving three of the largest marketplaces in Southeast Asia, namely Shopee, Lazada and Zalora.

At 11.13am on Wednesday, Capital A was flat at 61 sen a share, with 1.91 million shares done.

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