LBC sells Taiwan service unit
LBC Express Holdings Inc. is exiting its Taiwan-based employment services business after three years as part of a move to refocus operations and address losses.
In a disclosure on Wednesday, the logistics company said it had approved the sale of its 100-percent stake in Blue Eagle & LBC Services Ltd. to Ruby Chang for 2 million Taiwanese dollars, or about P3.8 million.
LBC said the divestment is aimed at realigning its strategy for the unit.
“The divestment of Blue Eagle is pursuant to the plans of the Corporation to refocus strategic direction for Blue Eagle, which may include implementing certain organizational changes, with a view of turning around losses of the subsidiary,” it said.
Blue Eagle, incorporated in Taiwan, is engaged in employment services.
The purchase price represents a steep markdown from LBC’s earlier acquisition cost. In 2023, the company acquired the same unit for 5 million Taiwanese dollars, or about P8.7 million at the time, as part of efforts to expand its global revenue streams.
“The acquisition is expected to benefit the company by contributing to the global revenue stream,” LBC said then.
The sale remains subject to approval by Taiwan regulators.
LBC generates the bulk of its revenues from logistics services, including domestic and international courier, freight forwarding and cargo transport across air, sea and land.
It also operates a money transfer business covering remittances, bills payment and corporate payout services.
The company returned to profitability in 2025, posting attributable net income of P246.06 million.
Domestic operations continued to account for the larger share of revenues, generating P8.61 billion, while overseas operations contributed P5.41 billion.
By segment, logistics services brought in P13.56 billion, compared with P465.53 million from money transfer services.
