Tiong Nam returns to the black in first quarter

KUALA LUMPUR: Logistics solutions provider Tiong Nam Logistics Holdings Bhd recorded a net profit of RM1.55mil in the first quarter ended June 30 (Q1’21) from a net loss of RM5.53mil a year ago, thanks to increasing demand for the logistics and warehousing services from existing and new customers.

In a statement yesterday, its managing director Ong Yoong Nyock said the group is seeing significant logistics demand across the wide range of industries it is serving in line with the improving vaccination rates in the country and gradual reopening of various sectors.