Thursday, 30 March 2017
Investment in PKT Logistics Group Sdn. Bhd., a leading logistics company in Malaysia
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that it acquired 20.9% share in PKT Logistics Group Sdn. Bhd. (PKT) , a leading Malaysian logistics company.
PKT provides end-to-end logistics solutions comprising freight forwarding, customs brokerage, contract logistics, haulage, distribution and others, to its customers from diverse market sectors. PKT owns and operates state-of-the-art, environment-friendly warehouses at its 'One Logistics Hub' in Shah Alam, Selangor, offering over 55,000m2 of warehouse space in total. In 2014, PKT acquired a strategic 70-acre piece of land in Batu Kawan Industrial Park, Penang, to develop the 'One Auto Hub'. The 'One Auto Hub' is PKT's landmark investment to support the logistics needs of automotive and electronics manufacturers in the north of Malaysia. The first component to be completed, The 12 Waves warehouse, offers over 60,000m2 of space for warehousing and value-add activities.
Since year 2000, the Malaysian economy has consistently seen annual growth rates of over 5% and it is expected to continue growing strongly, integrating itself further into the ASEAN Economic Community. With its advantageous geographical location, excellent highway network, international seaports network and other well-established logistics infrastructure, Malaysia is poised to be the next regional logistics hub.
This acquisition provides MOL Group with an opportunity to significantly enhance its operational capabilities in Malaysia, by leveraging the synergies between MOL Logistics (Malaysia) Sdn. Bhd., MOL's group companies and PKT, to pave the way for MOL Group's broad expansion in the Asian region. This acquisition signals MOL Group's commitment to serve its customers' needs for quality logistics solutions, in the Asian region.
MOL Group will also continue to strengthen its global network to better service its customers.