Indonesia-based logistics startup, J&T Express has acquired a 30-acre land in Malaysia for RM 600 million (~US$136.7 million).
Key Highlights
- The land which is located in Bandar Rimbayu, a township 30 kilometers away from Port Klang, the main gateway by sea into Malaysia, will be used to build an integrated logistics center.
- The 30-acre centre is designed for express distribution, transport, logistics and warehousing to meet J&T's growing business needs in Malaysia.
- Roy Zeng, chief executive officer of J&T Express Malaysia, mentioned that Bandar Rimbayu is "the golden triangle" of Selangor which has potential for development in that area.
- The new centre is estimated to be launched by the fourth quarter of 2024.
"The new facility will be fitted with our advanced technology, which enables us to better tap on our existing networks to meet the growing demands of the burgeoning e-commerce industry in Southeast Asia," said Charles Hou, group vice president of J&T Express.
History of J&T
- The Indonesia-based logistics company was founded in 2015 by Jet Lee and Tony Chen.
- J&T Express is currently operating in 12 countries: China, Indonesia, Vietnam, Malaysia, Thailand, the Philippines, Cambodia, Singapore, Saudi Arabia, the United Arab Emirates, Mexico, and Brazil.
- In February 2022, J&T Express raised US$2 billion from investors including Temasek Holdings in its latest funding round.
