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Mitsui OSK Lines buys stake in Malaysian logistics firm

Mitsui OSK Lines buys stake in Malaysian logistics firm
Mitsui OSK Lines (MOL) is boosting its logistics capabilities, acquiring a 20.9% stake in leading Malaysian logistics company PKT Logistics Group (PKT).

MOL said the acquisition would provide it with an opportunity to significantly enhance its operational capabilities in Malaysia, by leveraging the synergies between MOL Logistics (Malaysia), the MOL group’s companies and PKT that would in turn pave the way for the Japanese group’s broad expansion in the Asian region.

“This acquisition signals MOL Group’s commitment to serve its customers’ needs for quality logistics solutions, in the Asian region.

“MOL Group will also continue to strengthen its global network to better service its customers,” MOL said.

PKT provides end-to-end logistics solutions comprising freight forwarding, customs brokerage, contract logistics, haulage, distribution and others. It owns and operates warehouses in Shah Alam, Selangor, and in 2014, acquired a strategic 70-acre piece of land in Batu Kawan Industrial Park, Penang, to support the logistics needs of automotive and electronics manufacturers in the northern region of Peninsula Malaysia.