Additional Investment in PKT Logistics Group Sdn. Bhd., a Leading Logistics Company in Malaysia
August 21, 2018
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that it completed the acquisition of 14.27% shares in PKT Logistics Group Sdn. Bhd. (PKT), a leading Malaysian logistics company. MOL's stake will rise from the current 20.86%(*1) to 35.13%.
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 northern Malaysia. The first component, the 12 Waves warehouse, was inaugurated in May 2017 and offers over 60,000m2 of space for warehousing and value-add activities.
MOL is strategically allocating its resources to the logistics business under its management plan, "Rolling Plan 2018." The additional acquisition of the PKT shares will strengthen MOL Group's foothold in Malaysia as well as its adjacent regions where sustained growth is expected. With the enhanced partnership with PKT and by leveraging the collaborative synergies between PKT and MOL Group, particularly MOL Worldwide Logistics (*2) for NVOCC business, MOL will further develop and expand its logistics network in the steadily growing Asian market and shall provide stress-free service by better serving its customers' wide ranging needs for quality logistics solutions.
(*1) Please refer to the press release on March 30, 2017.
"Investment in PKT Logistics Group Sdn. Bhd., a leading logistics company in Malaysia"
(*2) Please refer to the press release on April 25, 2018.
"MOL expands its NVOCC business with the unified brand 'MOL Worldwide Logistics'"
The 12 Waves warehouse in One Auto Hub
[ PKT Logistics Group Sdn. Bhd. profile ]
|Name of the company||PKT Logistics Group Sdn. Bhd.|
|Principal place of business||The Ship, No.1, One Logistics Hub, Persiaran Sungai Hampar, Section 32, 40460 Shah Alam, Selangor DE, Malaysia|
|Group Chief Executive & M.D.||Dato' Michael B. Y. Tio|