LBC Express Holdings, Inc. to Spend PHP 200 Million for Gear, Branch Expansion and Plans to Put Up 100 Branches Per Year for the Next 10 Years
July 30, 2019 at 11:59 am IST
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LBC Express Holdings Inc. announced that it is spending about PHP 200 million in capital expenditures for the year to expand its business and automation, and not to compete head-on with the delivery services of Grab or Lalamove. The company plans to put up 100 branches per year for the next 10 years.
LBC Express Holdings, Inc. is a Philippines-based holding company. The Company is engaged in retail and corporate courier and cargo, money remittance, and logistics services. Its segments include logistics and money transfer services. The main services offered under its logistics business are domestic and international courier and freight forwarding services (by way of air, sea, and ground transport). Its logistics products are geared toward both retail and corporate clients. The money transfer services segment consists of remittance services (including branch retail services, prepaid remittance cards and online and mobile remit) and bill payment collection and corporate remittance payout services. The money transfer services segment includes an international presence through its branches, which comprises international inbound remittance services. The Company has a network of over 6,400 branches, hubs and warehouses, partners, and agents in approximately 30 countries.
LBC EXPRESS HOLDINGS, INC. 