KUALA LUMPUR: Soon-to-be listed integrated logistics services provider Swift Haulage Berhad (Swift Haulage) is valued at RM1.16 by Public Investment Bank Bhd (PublicInvest).

The firm said Swift Haulage’s business strategy was to focus on leveraging its core competencies and strengths in integrated logistics to address business opportunities. “We derive a fair value of RM1.16 based on 14 times price-earnings multiple of its FY23F earnings per share of 8.3 sen (forecast for financial year 2023),” PublicInvest said in an initial public offering note today.

The firm said Swift Haulage was set to grow its business by strengthening and expanding its operational facilities, including warehousing and container depots, as well as expanding its fleet operations. Swift Haulage is principally involved in the provision of integrated logistics services comprising container haulage, land transportation, warehousing and freight forwarding agency services.

Its integrated logistics and headquarters are located in Malaysia, while its operations in Thailand are focused on cross-border transportation and freight forwarding. The integrated logistics operations are supported by its fleet operations in Malaysia and Thailand including 1,546 prime movers, 5,518 container trailers, 811 box or curtain-sider trailers, 53 trucks and 42 CNG tankers.

Swift Haulage operates warehouses with a total storage capacity of 849,371 sqft and container depots with total capacity of 28,500 twenty foot equivalent unit. PublicInvest said Swift Haulage’s growth would be dependent on successful implementation of its business strategies and future plans which entails construction of a new warehouse, acquisition of land and cold-chain logistics companies, and expansion of vehicle fleet.

“Its key drivers may include rapid growth of e-commerce, adoption of technology by integrated logistics and the restarting of talks of free trade pact with the European Union,” the firm added.