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PSA takes control of CrimsonLogic

PSA International Pte Ltd (PSA) has taken majority control of of CrimsonLogic Pte Ltd (“CrimsonLogic”), a Singapore-based solutions company which facilitates trade and cross-border regulatory transactions. With the completion of transaction, PSA now holds 70% of CrimsonLogic, with Enterprise Singapore Holdings retaining 30% of shares. Enterprise Singapore Holdings is a 100% wholly-owned subsidiary of Enterprise Singapore.

According to PSA, CrimsonLogic will provide the digital layer supporting a fully integrated physical-regulatory-financing logistics execution in the global supply chain. CrimsonLogic will also tap the commercial acumen and resources of the PSA group to invest and further strengthen its business positions in emerging and key strategic markets globally.

Mr Tan Chong Meng, Group CEO of PSA, said, “We look forward to supporting CrimsonLogic’s new phase of growth as a world-class company at the forefront of revolutionising nextgeneration B2B and B2G integrated trade facilitation platforms. In alignment with our partner Enterprise Singapore, we aim to work with associated government agencies, cargo owners, logistics service providers and trade finance players to integrate and build a conducive and vibrant community which can work together to revolutionise supply chain fulfilment and orchestration. We believe that through collaboration, the solutions created and enabled by CrimsonLogic’s trade facilitation capabilities will deliver higher efficiencies demanded by future supply chain users, as well as complement Singapore’s trade and connectivity aspirations.”

PSA as a global port operator has been gearing up efforts to collaborate with multi-modal logistics stakeholders to create value differentiators in the global supply chain, starting with its existing network of marine terminals. The Group has also reached out to transportation network partners with multi-modal capabilities, such as its investment in China United International Railway Containers (CUIRC) to operate and co-develop China’s largest inland railway network for closer integration with port operations. More recently, PSA acquired 60% of Ashcroft Terminal, an inland port facility east of the Port of Vancouver.

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