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Chelsea bullish on 2019 growth and expansion

Chelsea Logistics Holdings Corp. remains confident about its expansion plans and growth prospects in 2019 as it focuses on expanding and improving further its logistics infrastructure facilities and systems and strengthening the telecommunications base.

“Our expansion plans complement our current business operations,” said CLC president and chief executive Chryss Alfonsus Damuy.

CLC’s businesses revolve around integrated shipping and logistics but due attention is being given to infrastructure and telecommunications ventures.

The company’s shareholders in its recent annual stockholders’ meeting approved the change in its corporate name to Chelsea Logistics and Infrastructure Holdings Corp., along with the shift in its PSE trading symbol to “C” from “CLC.”

“As the government pushes the ‘Build, Build, Build’ program forward, we are actively looking for opportunities to participate in the development of infrastructure facilities and systems in the country, including ports and airport development and operations and other related facilities,” said Damuy.

After being awarded as the New Major Telecommunications player in November, Mindanao Islamic Telephone Inc. expects to begin its five-year rollout plan with commercial operations by 2020. 

The Mislatel consortium is comprised of Udenna Corp., Chelsea Logistics Holdings Corp. and China Telecom. The presence of a third telecommunications provider allows for a greater market competition which according to the World Bank can boost the Philippine economic growth.

CLC also submitted an unsolicited proposal to modernize the Sasa port in Davao City and is hopeful of securing the project. The Sasa port, once modernized and expanded, is targeted to handle containers, general cargo and passengers for both international and domestic travel.

“We firmly believe that if we are granted with the opportunity to develop the Sasa port, it would translate to value creation for our stakeholders and promote further synergy within the Group,” Damuy said.

Aside from seaports, Chelsea Logistics was awarded the Original Proponent Status by the government for its proposal to operate and expand the Davao International Airport in October last year.

Topics: Chelsea Logistics Holdings Corp. , Udenna Corp. , growth , expansion
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