Century Logistics: When Corporate Transformation Coincides With Good Timing

It was a stroke of luck that left Century Logistics Holdings Bhd with only minimal losses when its Thai plant in the Ayutthaya province was affected by the floods last year. 

Century Logistics deputy managing director Dr Amin Kassim explains that the firm's Thai counterpart had wanted to commence operations a few weeks later than the original date. "Being Thai, they too had some sort of feng shui so they wanted to start operations much later after the agreement was signed. A week later, the floods hit... we were not spared, but the warehouse was empty as the supplies were not in yet," he tells BFM in a recent interview.

The Main Market-listed logistics provider has since repaired the damages at the plant once the floodwater receded, and the plant is now operational. "We incured losses of RM2 million last year because the plant was empty, but now the outlook is positive," he says.

In the following interview, Amin also talks about how Century Logistics' transformational restructuring in 1995, which stood the company in good stead during the 1997 Asian financial crisis, another restructuring in 2001 to stay relevant as well as issues affecting the local logistics industry in Malaysia.