PDZ, Sanichi to jointly develop e-commerce logistics hub in Johor
17 Jul 2020
Shipping firm PDZ Holdings Bhd and precision mould maker Sanichi Technology Bhd will jointly design, develop and manage a regional e-commerce logistics hub on 94.7 hectares (ha) of land in Desaru, Johor.
The two listed companies said they had concluded a collaboration agreement that would lead to the formation of a special purpose vehicle (SPV) to carry out the project.
“The massive 234-acre targeted location site for the e-commerce logistics hub is intended to facilitate bulk-breaking, packaging and distribution throughout the Southeast Asian region,” they said in a joint statement today.
In the collaboration, PDZ will provide its technical expertise in logistics management to design and implement an automated digital platform alongside world-class information and communication technology infrastructure to facilitate the operation of the e-commerce logistics hub.
Sanichi, a precision engineering company and a property developer, will be responsible for securing the site and permits with the relevant government agencies, coupled with designing, developing and construction of the entire 94.7ha site.
There may be other yet-to-be-identified stakeholders involved in the venture, the companies said, adding that they would finalise the complete list of stakeholders within 90 days from the execution of the agreement to form an SPV to execute the mega project.
The statement did not give an estimated cost for the project or how it would be funded.
Both companies recorded losses in the last financial year ended Dec 31, 2019.