According to Kenanga Investment Bank Research while GDex could be seen as an earnings beneficiary of e-commerce delivery because of its pure-play courier services, entrance of new players coupled with competition from existing established players further intensifies competition within the industry.
PETALING JAYA: GD Express Carrier Bhd (GDex) is taking up a 44.5% stake in Indonesia’s PT Satria Antaran Prima Tbk (SAP Express) in a move to tap into the country’s fast-growing express delivery industry.
The group said it was forking out 92.71 billion rupiah (RM25.8mil) cash, together with two of its units – GDex SEA and GD Valueguard – to participate in SAP Express’ initial public offering (IPO).
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