CJ Korea Express commands largest logistics firm in Malaysia

CJ Korea Express commands largest logistics firm in Malaysia. September. 09, 2016 07:17. by 박은서 기자clue@donga.com.

CJ Korea Express has become the largest courier service company in Malaysia by acquiring some shares of a Malaysian logistics company.

South Korea’s largest courier service company announced on Thursday that it has bought 31.4 percents stake in Century Logistics, the second largest courier service provider in Malaysia through CJ Korea Asia Pte Ltd., its regional head office for Southeast Asia, for 47.1 billion won ($43.1 million) and become the largest shareholder in the Malaysian firm. When combining its Malaysian corporate body with its stake in Century Logistics, CJ Korea Express commands the largest logistics firm in Malaysia.

Founded in 1970, Century Logistics is a leading logistics company with some 86.6 billion Korean won (approx. 79 million U.S. dollars) in sales in 2015 that runs eight logistics centers of 188,100 m² in total area across the nation and some 600 delivery trucks. Sharing the logistics hub for nation-wide network, CJ Korea Express expects to have increased orders and sales in the future.