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2004 Press Releases
Hong Kong, November 25, 2004 -- FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE:FDX), will consolidate its Asia Pacific financial operations in Singapore at its new Asia Pacific Financial Services Center (FSC). The move will help the company better support customers with offices in multiple countries, by standardizing processes across Asia Pacific and ensuring consistency in service levels.
The FedEx FSC, which was officially opened today with Mr Heng Chee How, Singapore's Minister of State for Trade and Industry, will serve 14 countries: Singapore, Australia, New Zealand, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Hong Kong, Taiwan, Korea, Japan, Macau and Guam.
"Asia Pacific continues to be an important region for FedEx, and we need to ensure that we keep pace with the changing landscape of today's environment. This includes centralizing our services and standardizing workflow processes to stay competitive," said Mr. David L. Cunningham, Jr., President, Asia Pacific Division, FedEx Express. "By doing so, we will have a 360-degree view of operations across all areas, with a consistent high level of service to our customers."
As part of FedEx's continued commitment to bringing best practices to the expanding Asia Pacific market, the FedEx FSC follows a shared global service model for all of FedEx's financial operations, and will handle accounting and revenue operations, including invoices and collection services across Asia Pacific.
The FSC is responsible for determining company policies, procedures and standardizing processes and platforms while local finance employees in each of the respective countries provide direct support to the customers.
Mr Heng Chee How, Minister of State for Trade & Industry added, "We are extremely pleased that FedEx has chosen to consolidate their finance services in Singapore. This reaffirms the fact that Singapore is not only an attractive regional logistics hub but also an ideal location for companies centralizing their services for the region."
The new FedEx FSC begins operations at the start of the New Zealand business day and closes at the end of the Thai business day. Employees are fluent in Malay, Cantonese, Mandarin, Thai, English, Japanese and Korean.
About FedEx Express
FedEx Express, a subsidiary of FedEx Corp., connects areas that generate 90% of the world's gross domestic product in one to three business days with door-to-door, customs-cleared service and a money-back guarantee. The company's unmatched air route authorities and infrastructure make it the world's largest express transportation company, providing fast, reliable and time-definite transportation of approximately 3.1 million packages to 215 countries each working day. FedEx Express employs more than 137,000 employees and has approximately 50,000 drop-off locations, 649 aircraft and approximately 42,000 motorized vehicles in its integrated global network.
About FedEx Corp.
FedEx Corp. (NYSE:FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $26 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 240,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit fedex.com.
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