At a glance
- Company
- Swift Haulage Bhd
- Announcement
- Partnership
- Location
- Petaling Jaya
Key figures
- Equity interest being acquired
- 20.44%
- Purchase price
- RM113.4mil
- Price per share
- 63 sen per share
- SCGJWD cold chain capacity
- exceeding 100,000 tonnes
- SCGJWD automotive logistics coverage
- 9.3 million sq ft
- SCGJWD fleet
- 14,000 trucks and 220 barges
People
- Loo Yong HuiSwift group chief executive officer
Products and programs
PETALING JAYA, February 5, 2024 -- 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.
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Questions around this news
What logistics capabilities does SJWD bring to the partnership?
The release describes SJWD as Thailand’s largest integrated logistics and supply chain services provider. It reports that the company has cold chain capacity exceeding 100,000 tonnes and automotive logistics operations covering 9.3 million square feet in Thailand. It also cites a fleet of 14,000 trucks and 220 barges, more than 24.8 million square feet of warehouse space, and 2,400 customers.
How does cold chain logistics work?
Cold chain logistics manages the storage, handling and transportation of goods that must remain within controlled temperature conditions. It can involve refrigerated vehicles and warehouses, temperature monitoring, and coordinated transfers between locations. The aim is to maintain product quality and safety throughout the journey, especially for temperature-sensitive items such as food and medicines.
What does cross-border logistics involve?
Cross-border logistics is the movement and management of goods between countries. It can include transportation planning, customs documentation and clearance, coordination among carriers and warehouses, and tracking shipments across the route. Because requirements and procedures vary between jurisdictions, companies often need to coordinate multiple service providers and comply with the rules that apply at each border.
