MOL Makes Logistic Investment to Boost Growth in Asia
Mitsui O.S.K. Lines, (MOL) has acquired 20.9% share in PKT Logistics Group Sdn. Bhd. (PKT) , a Malaysian logistics company specialising in end-to-end logistics solutions comprising freight forwarding, customs brokerage, contract logistics, haulage and distribution.
PKT owns and operates 'state-of-the-art', environment-friendly warehouses at its 'One Logistics Hub' in Shah Alam, Selangor.
In 2014, it acquired a 70-acre piece of land in Batu Kawan Industrial Park, Penang, to develop the 'One Auto Hub', which supports the logistics needs of automotive and electronics manufacturers in the north of Malaysia.
Since 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.
MOL stated in an announcement: "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."
Samsung Heavy Industries (SHI) recently broke the world record for building the largest continership - the 20,150 TEU MOL Triumph.