Legend Logistics raises strategic investment from EDBI to Drive regional growth and digitalisation plans05 July 2021
Legend Logistics well poised to capture growth opportunities in regional supply chains, as it expands offerings and embarks on digital transformation
Accelerating growth across South and Southeast Asia enabled by Diversified Offerings, Enhanced Connectivity and Digitalisation
Singapore, 05 July 2021 – Legend Logistics Limited (“Legend”) today announced ongoing regional expansion efforts across Asia, including the closing of their acquisition of iG Logistics Group, and plans for digital transformation and adoption of technology-enabled solutions to further enhance operational visibility and efficiency, enabled by a new strategic investment from EDBI, a global Asian-based investor.
Legend was founded in 2012 as a Singapore-based freight forwarder and has grown into an integrated specialized logistics group offering diversified and cost-effective solutions to its customers. Against the backdrop of COVID-19 and the ensuing supply chain disruptions, the company has strengthened its market position in global supply chains by expanding to Europe and the Middle East whilst broadening and deepening its Asia presence. It has also embarked on a transformation journey to digitalise business processes and enhance operational visibility, enabling a seamless endto-end logistics experience for customers and stakeholders alike.
Regional Expansion Focusing on Southeast Asia and South Asia
Amidst Legend's ongoing expansion and transformation efforts, South Asia and Southeast Asia remain the key growth markets for the company. The rapid economic expansion experienced in recent years coupled with the region's geographic and socio-political diversity has meant that the development of logistics infrastructure has been unable to keep pace with demand. For instance, Indonesia alone has over 6,000 inhabited islands, and transportation networks are still undeveloped, particularly beyond the main island of Java. Legend Logistics, with its expertise and capabilities in integrated specialized logistics, is well placed to capture opportunities emerging from ports with poor logistics infrastructure, offering improved visibility of operational efficiency and cost effectiveness across the supply chain. With the added logistics networks and transit nodes, the company will also further improve connectivity at these operationally challenged ports.
The investment from EDBI supports the company's transformation and regional growth plans including M&A, allowing it to expand its service offerings and accelerate market access. Legend's recent acquisition of iG Logistics Group, a vessel and automotive operator, has contributed to the upstream diversification of the company's services, enabling it to provide integrated customised multi-modal logistics solutions encompassing marine logistics and breakbulk services, container shipping and feeder services, and bulk liquids logistics. This complements Legend's strategic focus of connecting Sumatra and Riau Islands in Indonesia and ports across Southeast Asia and the Far East, with ports in the India Subcontinent and the Middle East.
"Today, Legend is one of the most diversified transportation companies in Asia and a one-stop integrated and specialised logistics provider with vested interest in specialised logistics, tank containers and container shipping for heavy haulage, bulk liquid, dry commodities, perishable products and oversized cargoes. With a presence spanning Asia, Oceania and Europe, Legend operates 11 regional offices across 8 countries." Mr. CK Than, founder and CEO of Legend Logistics Group said. Mr Than added: "The acquisition of iG Logistics Group has strengthened our position as one of the leading container operators in the region. Legend is looking to further entrench our position in the region by developing new shipping routes plying emerging and niche markets, deploying our marine assets and equipment, vertically integrating and bringing our services closer to our customers."
Enhancing Connectivity via Digitalisation
As connectivity and infrastructure of the region's ports improve, new technology-enabled solutions offering enhanced visibility, automation and centralized operational control have also begun to emerge and gain adoption. Building upon Legend's extensive experience and deep expertise in the logistics industry, the Group recognizes the importance of digitalization and plans to create an innovative business model that will further accelerate growth and bolster its competitive advantage both locally and globally. Plans are underway for the Group to adopt digital technologies and solutions into their business processes and services that will focus on the pillars of business operations and customer relationships. Legend understands that digitalisation will help satisfy their business-critical needs including optimisation, automation, efficiency, connectivity, and visibility. Digital innovation will further benefit Legend to compete strongly in the global supply chain market and create more business opportunities.
"We are honoured and delighted to welcome an international renowned investor like EDBI to join the Legend family. EDBI as an invaluable strategic partner with their extensive network will add significant value to our expansion worldwide. Moreover, EDBI's strong knowledge and experience in technologies will help us guide in our digitalization journey and together with Daiwa ACA support the vision of the Company." added Mr Than.
Ms Chu Swee Yeok, CEO and President of EDBI said, "Southeast Asia continues to grow in importance as a global production base and demand driver, with regional logistics players poised to benefit from this trend. Legend Logistics is a key supply chain management partner to a diverse range of global brands and already a regional leader in multimodal logistics. EDBI looks forward to working with Mr CK Than and his team to support Legend's next phase of growth, accelerating market expansion and digitalization, and further strengthening Singapore’s position as a transshipment hub of choice."