SJWD Merges Freight Unit with Triple i Logistics
SCGJWD Logistics (SJWD) is merging its freight subsidiary SJWDF with Triple i Logistics (III) in a deal expected to close by Q1 2027. SJWD will acquire a 24.50% stake in III, while SJWDF becomes a wholly owned subsidiary of III. The strategic partnership combines SJWD's sea freight and customs expertise with III's air freight and aviation logistics capabilities to create a comprehensive end-to-end logistics provider in Thailand and ASEAN.
SCGJWD Logistics (SJWD) is restructuring its freight forwarder business and preparing a share swap with Triple i Logistics (III) to elevate the relationship to a strategic partnership, integrating strengths to create comprehensive logistics services and expand the customer base.
On November 12, 2026, SCGJWD Logistics (SJWD) announced a restructuring of its freight forwarder business after receiving board approval to merge its subsidiary SCGJWD Freight (SJWDF) with Triple i Logistics (III). Upon completion, SJWD will hold a 24.50% stake in III, while SJWDF will become a subsidiary of III. The business combination is expected to finalize within the first quarter of 2027, advancing toward a strategic partnership that integrates both parties' business strengths, including their logistics services, to enhance completeness, increase opportunities to expand the customer base, broaden markets, and launch new services.
Mr. Ban Kasemthup, Co-CEO of SCGJWD Logistics, a major integrated logistics and supply chain provider in ASEAN, disclosed that the company is proceeding with the freight forwarder restructuring following board approval to merge SCGJWD Freight (SJWDF), a subsidiary operating in freight forwarding, with Triple i Logistics (III). The company will purchase newly issued ordinary shares of III and pay consideration partly in SJWDF shares and partly in cash. Additionally, the company will acquire some existing ordinary shares of III from shareholders for cash.
The business combination is expected to complete within Q1 2027. SJWDF will become a wholly owned subsidiary of III, while SJWD will hold a 24.50% stake in III through (1) investing in newly issued shares via share swap and cash at 20.93%, and (2) purchasing shares from existing shareholders at 3.57%. SJWD will immediately recognize its share of profits according to the investment proportion upon transaction completion.
This freight forwarder restructuring will elevate strategic cooperation to a strategic partnership by leveraging both parties' strengths to create more comprehensive business, connect supply chains, increase revenue through customer base expansion, market expansion, cost reduction, joint development of new services, and business expansion in ASEAN.
Mr. Chuanin Banditkrisda, Co-CEO of SCGJWD Logistics, stated that the company and SJWDF have strengths in sea freight services, large corporate client base, logistics infrastructure, cross-border transportation operations, warehousing, and customs clearance services. Meanwhile, III has expertise in air freight services, aviation industry logistics, international freight forwarding expertise serving both freight forwarders and shippers, and a network of domestic and international partners. Combining these strengths will mutually enhance operations, partner networks, customer bases, technology, and personnel.
The business combination will positively impact both parties' international freight forwarding businesses, including: (1) elevating New SJWDF and III to become leading international freight forwarders in Thailand and the region, and (2) creating opportunities to jointly expand end-to-end logistics businesses.
