Swift said the partnership will serve as a platform for the company to aggressively expand its intra-Asia service offerings.
PETALING JAYA: Thailand-listed SCGJWD Logistics pcl (SJWD) is acquiring 20.44% equity interest in Swift Haulage Bhd
, allowing the latter to leverage and capitalise on the former’s extensive and wide network across Asean and China.
Swift, the largest haulier in Malaysia, said in a statement this partnership will broaden its geographical reach, establishing a robust presence.
It added that the partnership will serve as a platform for Swift to aggressively expand its intra-Asia service offerings, catering to both existing and new customers.
Earlier this week, SJWD, via its Singapore-based wholly owned subsidiary logistics company JWD Asia Holding Pte Ltd, announced that it is acquiring the 20.44% stake at a sum of RM113.4mil or 63 sen per share.
Swift group chief executive officer Loo Yong Hui said this partnership is a strategic step to enhance the group’s integrated logistics services capabilities.
He said the group looks to leverage on SJWD’s expertise, particularly in cold chain and auto logistics.
“SJWD’s comprehensive network and best-in-class cold chain and auto logistics capabilities, coupled with its proficiency in navigating diverse markets, aligns with Swift’s vision to become a regional logistics powerhouse.
“The partnership aims to promote knowledge transfer for the cold chain and auto logistics while streamlining cross-border logistics and operations,” he noted.
Loo believes, with SJWD’s established presence and network throughout Asia, Swift is well-positioned to aggressively grow its service offerings and volume.
“The partnership aims to promote knowledge transfer for the cold chain and auto logistics whilst streamlining cross-border logistics and operations,” he added.
According to Swift, SJWD is the largest integrated logistics and supply chain services provider in Thailand, with a cold chain capacity exceeding 100,000 tonnes.
Swift said SJWD’s capabilities in automotive logistics covers 9.3 million sq ft in Thailand, offering comprehensive end-to-end solutions for parts, automobiles and on-site services, through its extensive fleet of 14,000 trucks and 220 barges.
“Supported by over 24.8 million sq ft of warehouse space, SJWD ensures efficient storage and distribution solutions for a well-diversified base of 2,400 customers,” it said.
