• Shareholders’ Approval for rights issue of 1 warrant for every 2 ordinary shares held at 5 sen per warrant

Port Klang, 19 November, 2009 : Century Logistics Holdings Berhad (“Century” or “The Group”), a home-grown leading provider of supply chain management and total logistics services, posted net profit after minority interest of RM8.8 million for the third quarter ended 30 September 2009 (“3QFY09”), up 184.1%, from RM3.1 million for the corresponding period last year. This was on the back of a 53.0% rise in revenue to RM67.3 million from RM43.9 million in 3QFY08. Earnings per share also surged by 184.9% to 11.7 sen from 4.1 sen in 3QFY08.

When compared against the second quarter ended 30 June 2009 (“2QFY09”), the improvement was equally staggering. The net profit after minority interest jumped 123.8% from RM3.9 million while revenue improved 43.2% from RM47.0 million in 2QFY09. Earnings per share also improved by 120.1% from 5.3 sen in 2QFY09.

The Group’s strong results performance was due to the increased business activities from new and existing customers.

Steven Teow, Managing Director of Century, said, “The broad offering of Century’s business, combined with our low fixed cost base has enabled us to ride through the global economic downturn. The expansion of our customer base is expected to continue as our customers are convinced with our supply chain solutions offering and outsource their non core supply chain activities to us. Key to it all is our relentless pursuit to understand the needs of our customers and to customize the optimum supply chain solutions accordingly.”

Teow added, “Our strong financial position and low gearing places us in a position to maintain strong results and take opportunities as they occur. Currently, we have cash balance in excess of RM29 million while net gearing ratio stands at a comfortable 0.33x, despite the recent construction of a 21,000 square metres distribution centre in Rojana Industrial Park, Ayutthaya, Thailand. This is in line with our plans to re-allocate our warehouse assets to fast growth areas such as the Port of Tanjung Pelepas (PTP) in Johor and Shah Alam areas, as well as overseas.”

Teow further expressed, “Prospects for the Group remain exciting due to the continued growth in our supply chain management services. Additionally, with the stabilization of global oil prices, we are servicing a larger number of vessels, resulting in higher contribution to the Group's oil and gas logistics operation. We expect to continue with the performance for the remaining period of the current financial year and beyond.”

In line with the improved financial performance for the financial period ended 30 September 2009, Century is declaring an interim cash dividend of 2.0 sen per share (single tier). This is in addition to the distribution on 18 September 2009 of 1 treasury share for every 10 ordinary shares held. The books closure date for the cash dividend is scheduled for 8 December 2009.

As a mean to provide its shareholders with the opportunity to increase their equity participation further, Century intends to issue 1 warrant for every 2 ordinary shares held at a low entry cost of 5 sen per warrant, of which shareholders’ approval has been obtained today. The books closure date for this exercise is expected to be on 6 January 2010.