KUALA LUMPUR: Sunsuria Bhd
has inked collaborative agreements with China's Sinotrans Ltd and IAT Automobile Technology Co. (IAT) to set up a smart logistics park in Malaysia and an Asean automotive design hub respectively.
The agreements were formalised by Sunsuria executive chairman Tan Sri Ter Leong Yap who joined the Malaysian delegation to the Second Belt and Road Forum for International Cooperation in Beijing.
In the memorandum of understanding (MoU) with Sinotrans, the parties will collaborate on establishing and operating a smart logistics park and business in Malaysia.
"By tapping into Sinotrans’ vast experience, we are confident that Sunsuria will be able to capitalise on the Smart Logistics Park and Business at the opportune time with the strong growth of cross-border e-commerce, while the Belt and Road Initiative goes into full swing with major infrastructural projects underway," said Ter.
The joint venture stands to benefit from upcoming projects such as the Malaysian-China Kuantan Industrial Park, Regional Logistic Hub, East-Coast Rail Link Project Logistic and ECommerce Business, said Sunsuria in a statement.
Sinotrans is one of China's largest third-party logistics providers and is listed on the Hong Kong Stock Exchange and the Shanghai A-Share Market.
Meanwhile, Sunsuria also signed a strategic cooperation agreement (SCA) with automotive design and engineering firm IAT to form a joint-venture company to establish the Asean Automotive Design and Innovation Center (AADIC).
Apart from conducting R&D in automotive design and technology, the centre will serve as the main operations centre for obtaining a car-sharing operations licence in Malaysia and importing modified electric vehicles from China
"Sunsuria’s flagship integrated development, Sunsuria City, will be the launchpad of the first fleet of 100 imported electric vehicles," it said.
IAT will also look into forming partnerships with schools and enterprises to cultivate Malaysian talent and services in the automotive sector.
According to International Trade and Industry Minister Datuk Ignatius Darrell Leiking, the partnership with IAT will promote technnology transfer and promote the strength of training in the country.
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