UHY Clients
SDV International Logistics in East Timor
23rd September, 2009
SDV International Logistics in East Timor
Freight forwarding, transportation and other logistical services are provided by SDV International Logistics in East Timor, which has its parent company in Singapore and its holding company in France.
SDV has 20 employees in East Timor and a turnover of SGD 8,879,000 (USD 6,114,000).
East Timor, situated on half of Timor Island, is one of the world’s newest countries, having attained independence in 2002 after 400 years of Portuguese rule, 24 years of Indonesian rule, and three years of transition under the administration of the United Nations (UN).
SDV in East Timor was created in 1999, in the aftermath of destruction caused by militia after the referendum for independence – and just as the international peacekeeping force INTERFET was deployed in the country, together with the UN transitional administration.
Since then, SDV International Logistics in East Timor has grown to be the largest freight forwarder, shipping agent and customs broker in East Timor, so contributing to the rebuilding of this new nation.
For the eighth consecutive year, SDV has again this year been engaged by the UN to provide freight forwarding services. UN vehicles, building materials and office supplies arrive in East Timor from different parts of the globe every week, mostly by sea.
SDV’s offices are in Dili, the capital city. It is just one branch of parent company SDV International Logistics’ 500 stations across 88 countries, employing 27,000 staff. The company has evolved from a freight forwarder, to a transportation organiser, to become a logistics provider on an international scale, targeting multinational as well as small and medium-size company clients.
UHY’s member firm in Indonesia, KAP Hananta Budianto & Rekan, reviews financial statements for SDV International Logistics in East Timor and prepares them for consolidation by the parent company in Singapore.
UHY’s long-established member firm in Singapore, UHY Lee Seng Chan & Co, was appointed as auditors and tax agents of SDV Logistics (Singapore) Pte Ltd in 1986 – and made the introduction to our Indonesian member firm. The Singaporean firm has provided auditing, tax advisory and corporate secretarial services to the SDV Singapore Group since its appointment.
The complexity of consolidating accounts from 88 countries in accordance with a tight schedule requires high quality standards from all parties involved. Marianne Chuah, Financial Controller for Malaysia and Indonesia, SDV Transport, says she is entirely satisfied that the final financial report on SDV International Logistics in East Timor has been delivered on schedule – and to the highest quality standards she would have expected from professional auditors.
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