Malaysia-based Century Total Logistics Sdn. Bhd. which was awarded a service license by the Malaysian Communications and Multimedia Commission in June to operate domestic courier services, is eying to enter the Malaysian parcel delivery market.
Sources said that Century Logistics (in which CJ Korea Express is a majority owner with a 31.5% stake) has been boosting its warehousing capability and is looking to buy a suitable “mid-size”
A report in The Star newspaper quoted executive director Edwin Yeap as saying that Century Logistics would prefer to buy a company with an existing last-mile delivery capability rather than building its network from scratch.
Focus on delivering Korean e-commerce goods
Because of its close links with CJ Korea Express, the company would also be interested in delivering Korean e-commerce products in Malaysia rather than Chinese goods.
Bloomberg reported market rumours last month of a possible merger and acquisition of Century Logistics and Nationwide Express Holdings Berhad. However, both companies denied this hearsay.
China's e-commerce giant Alibaba in March announced it would open a logistics hub in Malaysia at the end of 2019, which will function as a centralised customs clearance, warehousing and fulfilment facility for Malaysia and the region.
Nol van Fenema