EPF forms partnership with ALP to build logistic hub in Klang
06 Oct 2022
The Employees Provident Fund (EPF) and Taiwan’s Ally Logistic Property Co Ltd (ALP) have entered into a shareholders agreement to develop a 100% pre-leased logistics hub in Bukit Raja, Klang, Selangor.
The EPF will invest up to 70% stake in the joint venture company, ALP BR (Malaysia) Sdn Bhd. The remaining 30% will be held by ALP.
The modern logistics hub will be located at Bandar Bukit Raja, Klang, Selangor, on 27 acres of freehold land. The logistics hub will be equipped with the Automated Storage and Retrieval System, or ASRS technology, providing increased efficiency and flexibility for tenants.
The hub is expected to be completed by the third quarter of 2024, with a gross floor area of more than 1.8 million square feet and 100,000 pallet positions in the shared Automated Storage and Retrieval System zone. Upon construction completion, ALP BR will lease out the entire warehouse to ALP under a 15-year master lease agreement.
EPF CEO Datuk Seri Amir Hamzah Azizan said the asset will provide the EPF with the opportunity to invest in prime quality logistics asset and generate stable rental income for both the EPF and ALP.
“Our selection of ALP as our investment partner for logistics real estate was driven by ALP’s reputation and knowledge as a global sector specialist, possessing a high-quality portfolio. This partnership presents an opportunity for the EPF to ride on the growth of the logistics sector, which is expected to continue to accelerate, further driven by the vibrant e-commerce market and supply chain diversification by major players,” he said.
ALP co-founder and CEO Charlie Chang said as ALP expands its quality assets into Southeast Asia, it sees Malaysia as a starting point to introduce its modern logistics infrastructure due to its appreciation for innovation.
“Our partnership with the EPF will be for the long term in Malaysia and beyond.”
Source: The Sun Daily