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2GO launches supply chain solution

2GO GROUP, Inc. has launched a new supply chain solution called 2GO Connect that aims to remove supply chain inefficiencies amid the coronavirus disease 2019 (COVID-19) pandemic.

In a statement on Thursday, the logistics and transportation provider said 2GO Connect offers fast and direct service to modern trade points of sales across the country.

The company said the new service solution lets businesses deliver their inventories straight to malls and modern trade, avoiding several handling points and transportation costs.

2GO Chief Operating Officer Waldo C. Basilla said 2GO Connect leverages off its ROPAX (roll-on/roll-off passenger) service and its landside network to cater to malls in Cebu, Iloilo, Cagayan de Oro, and Bacolod four times a week.

Mr. Basilla said the cargoes are gathered at the origin and those heading to the same destination will be placed in a container and have a “train-like” schedule for regular deliveries straight to the malls.

“We integrate our broad multimodal transportation services to enable fast, reliable, and direct service to replenish goods at the malls, as the economy gradually reopens in 2021,” Mr. Basilla was quoted as saying.

“This gives customers from the Visayas and Mindanao regions access to the same catalogues available in Metro Manila, almost at the same time that it is launched,” he added.

Meanwhile, 2GO projects a growth for the new service solution as the Philippine economy continues its recovery from the pandemic.

“2GO is confident that with our continuous innovation, we will not only help businesses meet their needs, but more importantly, connect them to the ultimate consumer in a timely manner,” Mr. Basilla said.

For the third quarter of 2020, 2GO reduced its net loss to P311.66 million against the P627.67-million net loss it reported in the similar period the previous year. Its revenues for the quarter also fell 9.7% to P4.60 billion.

Shipping revenues declined 35.7% to P987.55 million, and logistics and other service revenues dropped 4.9% to P1.58 billion. Meanwhile, sale of goods improved 7.3% to P2.03 billion.

On Thursday, 2GO shares at the stock exchange fell 2.73% or 23 centavos to end at P8.20 each. — Revin Mikhael D. Ochave

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