PETALING JAYA: Swift Haulage Bhd
(SHB) has entered into a land lease agreement with Perbadanan Memajukan Iktisad Negeri Terengganu to develop a logistics hub in Kerteh, Terengganu.
In a statement, SHB said the land lease agreement will be for a period of 30 years effective from July 1, 2023 to June 30, 2053, with an option to renew for another 30 years from July 1, 2053 to June 30, 2083 for a total fee of RM4.38mil.
“SHB will develop a logistics hub and facilities consisting of warehousing, office buildings, transportation depots, warehouses, workshops and other relevant buildings.”
The company said the new logistics hub will be designed to accommodate the growing number of SHB’s assets, as well as the increasing demand for services.
“Developing a new logistics hub in Kerteh will support these operations, which aligns with SHB’s goal to become the leading provider of comprehensive logistics solutions in the East Coast Region of Malaysia.”
SHB group chief executive officer Loo Yong Hui said the hub will enhance the company’s glowing reputation as the preferred transportation provider for oil and gas, petrochemical and related industries.
“The completion of the logistics hub will enhance export and domestic delivery services from Kerteh to different locations across Peninsular Malaysia and Singapore.”
