SF speeds up global expansion

Courier major plans venture with UPS to forge link between the two logistics networks

SF Holding Ltd said on Friday it is speeding up its global expansion. It has firmed up plans to set up a joint venture with international delivery behemoth UPS Parcel Delivery Service Ltd.

The two parties said they are to establish Hong Kong-based Global Connect Holding Ltd, with each owning 50 percent of the equity. They said the total investment would be up to $10 million, with the deal subject to regulatory approval.