Summary
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The Chiongbian Family signed definitive agreements to buy back the 40% stake in FAST Logistics Group, returning the Philippine third-party logistics provider to full family ownership. FAST Logistics is one of the largest 3PL operators in the Philippines, providing warehousing, transportation, and distribution services. The buyback signals confidence in the Philippine logistics market, which has seen growing demand driven by e-commerce expansion and manufacturing growth. The move follows FAST's recent opening of a logistics and crossdock center in Davao and expansion of services for large businesses and SMEs across the archipelago.