COSCO Shipping Int. (Singapore) to Expand in Malaysia
COSCO Shipping International (Singapore) is expanding its logistics operations in Malaysia with the proposed acquisition of 80 percent of shares of Guper Integrated Logistics, Gem Logistics, Dolphin Shipping Agency and East West Freight Services.
The company also plans to lease land at Port Klang, Malaysia, to construct a warehouse of approximately 300,000 square feet and to acquire the assets by SH Cogent Logistics from Golden Logistics & Storage, a subsidiary of COSCO Shipping (South East Asia).
“There has been a long-term shortage of quality warehousing facilities in Port Klang and an underlying customer demand for new warehouse facilities,” said COSCO Shipping International (Singapore) in a statement. “This project not only fulfils current market demand, but also allows Cogent Malaysia to capitalize on the competitive advantage it possesses in its main business of container transportation, and expands both the upstream and downstream services of its container transportation business.”
The company expects the consolidated platform to provide customers with a one-stop integrated service which will be expanded to include container haulage, freight forwarding, container
depot and warehousing. Moving forward as an integrated platform, the Group expects to benefit from potential synergies and economies of scale, by engaging in cross-selling of services and business optimization with its related companies.
COSCO Shipping International (Singapore) says it will continue to actively expand its logistical networks through strategic acquisitions and investments as it strives to become the leading integrated logistics player in the South and Southeast Asian region.