UPS Malaysia Leads Asia Pacific Region In Growth

KUALA LUMPUR, May 24 (Bernama) -- UPS Malaysia, a package delivery company, registered the strongest growth of 50 per cent in the Asia Pacific region for the first quarter of 2010.

It was followed by UPS Hong Kong with 35 per cent growth, South Korea 25 per cent and Singapore nearly 25 per cent, said UPS Asia Pacific President Derek Woodward in a statement Monday.

"All major regions of the world experienced export volume improvements, and Asia, which is led by Malaysia, saw 20 per cent gains after compared with the same period last year.

"During the quarter, we also saw a promising volume jump of nearly 40 per cent in our Asia-to-Europe trade lanes which is an indication that economic recovery is well under way," he said.

The group posted an increased revenue of 7 per cent to US$11.7 billion (RM37.25 billion) in the first quarter report compared with the corresponding period.

"We can see the growth in the international package and supply chain businesses, yield improvement and increased operating leverage resulted in margin expansion in all business segments," Woodward said.

UPS Chairman and Chief Executive Officer Scott Davis said the company's strategy clearly proved beneficial in the first quarter.

"Our broad product portfolio and solutions-based approach to the customers' logistics needs enabled the company to capture new business.

"With global economies showing signs of recovery and UPS's strong start to 2010, we are optimistic about this year and the future," he added