Tuesday, Jan 31, 2023
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Logo SE Asia forms JV to develop logistics hub in Malaysia

Logos joint venture_IFM_Image
Logos has entered into a joint venture with Global Vision Logistics

Logo Southeast Asia (Logos) has formed a joint venture to develop a sustainable integrated logistics, warehousing and ecommerce hub in Shah Alam, Malaysia, media reports said. Logos has entered into a joint venture with Global Vision Logistics.

The project is expected to cover a total development area of 745,000 square metres (sqm) and gross leasable area of about 505,000 sqm spanning five warehouse blocks. It will be completed in different phases..

The joint venture between Logos and Global Vision Logistics is brokered by Knight Frank Malaysia. Will Logos will own 60 percent of the shares in the new company, Global Vision Logistics will take up the remaining 40 percent.

Knight Frank managing director Sarkunan Subramaniam told the media, “We are proud to share that Logos’ first venture in the Malaysian industrial market is represented by the largest ever development project in terms of square footage embarked by the group across the Asia region.

“Given its extensive experience in managing and developing logistics facilities across nine countries within the region, we believe their participation will bring about advance technical and operational know-how in developing high-grade multi-level warehouses, elevating the Malaysian logistics property landscape to the next level.”

Last year, leading Chinese smart supply chain solutions and logistics services company BEST launched end-to-end cross-border logistics services with Malaysia. BEST has partnered with Cainiao Smart Logistics Network, the logistics arm of Chinese ecommerce giant Alibaba to launch the new services This latest move is expected to help BEST expand its footprint in Southeast Asia.

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