THE Transmodal Group of Companies recently signed a joint venture agreement with foreign and local partners that will allow the company to expand in the areas of airfreight, logistics and trade services.
The deal was signed by Transmodal chief executive Irene Manguiat-Tan with Manquist Holdings Pte Ltd-Singapore represented by Ronald Tan, Nayak Holdings(S) Pte Ltd Inc through Arvind Nayak, and Jang Holdings, Inc through chairman Capt Jae Jang along with local investors Antonio Tan, Jr and Barbie B. Rivadeneira.
The joint venture, which took four months to hatch, is the next big leap for Transmodal, after the company transferred to its own four-storey office building in Intramuros last year, said Manguiat-Tan.
Synergy, like-minded forces
“We see big potential for this partnership, which capitalizes on synergy and a merger of like-minded forces,” added Manguiat-Tan.
Joint venture partners Manquist Holdings Pte Ltd and Jang Holdings, Inc are also optimistic about the partnership, describing it is as a perfect fit for their own international expansion plans.
Manquist Holdings and Jang Holdings are active in the ocean and air shipping businesses, and Nayak Holdings in aviation and ground handling operations in India.
“We are very upbeat about the strength of Transmodal and the growth potential for our overseas expansion,” Manquist Holdings chief Ronald Siong Kiat told PortCalls during the signing of the agreement.
Kiat, who is also vice chairman of the joint venture, said: “My company is very bullish about the Philippines despite its current unique problems that is why we are putting money here.”
“We will use our partnership with Transmodal to interconnect with our other businesses in Asia such as India and Singapore,” Jang Holdings, Inc chief Capt Jae Jang piped in.
“We expect the Philippines to corner a modest chunk of foreign investments starting this year. This will definitely bump the volume of cargo moved through air,” Jang, who chairs the joint venture, added.
Transmodal International Inc is the mother company of Pacific Concord Container Lines, Inc. (NVOCC); Global Star Logistics, Inc.(Project cargoes); TMI Shipping, Inc. (ship agency); Travelworx (travel agency); International Plant and Equipment Inc (heavy equipments and trading); Multi-pallets & Boxes, Inc (manufacture of corrugated pallets/boxes).
Company offices are strategically located all over the archipelago — in Manila (head office) and in the cities of Cavite, Cebu, Davao, Cagayan de Oro, General Santos and Zamboanga.
Two new companies from this joint venture will be established shortly: TMI Corp, focusing on trading, distribution and supply; and TMI Logistics, Inc, catering to logistics and warehousing and acting as general sales agent and international airfreight services provider.
Synergy in action: Transmodal recently inked an agreement to create a joint venture with Manquist Holdings Pte Ltd, Jang Holdings, Inc, and Nayak Aviation Pte Ltd. At the signing were, seated (L to R), Ronald Siong Kiat of Manquist Holdings Pte Ltd., Capt. Jae Jang of Jang Holdings, Inc, and Irene Manguiat-Tan of the TMI Group of Companies. Standing (L to R): Efren Caboteja of Jang Holdings, Inc., Atty. Jean Paulo Primavera of TMI Group of Companies, Arvind Madhav Nayak of Nayak Aviation Pte Ltd, and Barbie Rivadeneira of Pacific Concord Container Lines.