LEO Jumps 6.5% to ฿3.64 as SET Index Surges Ahead of “Biden”’s Win!

The share price of LEO Global Logistics Public Company Limited (LEO) rose ฿0.22/share or 6.43% to ฿3.64/share as of 11:53 on Thursday, higher than its IPO price at THB 3.42.

 

The rise in share price was in line with the Thai stock market that cheered over Joe Biden’s possible win as the analyst such as Krungsri Securities (KSS) Biden’s win would reflect positively to trade relations, along with a major economic stimulus bill as well as a spike in oil prices.

 

LEO Global Logistics Public Company Limited (LEO), formerly known as LEO Group Company Limited, provides End-to-End Global Logistics Services. The company was initially established on October 11, 1991 with the registered capital of 2.50 million baht, by Mr. Kettivit Sittisoonntornwong, LEO’s Chief Executive Officer, one of the founders of the company.

The first objective was to hold shares in other companies in the group (Holding Company) and to support the expansion of businesses related to the logistics business. At that time, the main business of the Group was operated under Leo Transport Corporation Limited (LEOT) (in 2008 the group of LEO was restructured, the entire business of Leo Transport Corporation Limited was transferred to the company in 2009).

 

In the initial stages of operation, LEOT’s core business was the less than container load (LCL) in both inbound and outbound shipments to major port cities around the world. Thereafter, LEO has expanded its service to the Full Container Load (FCL) service, which is currently the main business with the highest revenue proportion of the company.

 

LEOT has expanded the business to be more diversified, by beginning providing Air Freight services in 1997 and began to expand its services In other parts of logistics business, such as providing customs clearance services, domestic and cross-border transportation services by truck and trailer, and warehouse and distribution management etc.

 

In 2010, LEO was awarded a license and registered as a Multimodal Transport Operator (MTO) in accordance with the Multimodal Transport Act 2005, enabling the company to provide End-to-End transportation services around the world. In addition, LEO has expanded its business through the establishment and investing in other companies with partners in other logistics sectors.

As of Jun 30, 2020, the company has 2 subsidiaries, which are YJC Depot Services Company Limited (YJCD), who operates mainly as short-term and long-term container depot services and container repair service, and Leo Myanmar Logistics Company Limited (LML) whose main business is providing a complete logistics service in Myanmar.

LEO also has 2 associated companies which are Sinokor Marine (Thailand) Company Limited (SKRT), operating as a liner agent of Sinokor Shipping line from South Korea, and Aramex (Thailand) Limited (ARM), the international express and parcel transportation service provider.

As of June 30, 2020, LEO has registered capital of 160.00 million baht and paid-up capital of 100.00 million baht. LEO transformed into a public company on March 23, 2017 and changed its name to Leo Global Logistics Public Company Limited.