Alibaba eyes logistics hub in Malaysia
Print Edition
ALIBABA Group said yesterday that it would set up a logistics hub in Malaysia, the latest in a string of Chinese investments including in infrastructure and real estate projects.
The hub will be part of a digital free trade zone that was launched by Malaysian Prime Minister Najib Razak and Alibaba’s founder and Executive Chairman Jack Ma in Kuala Lumpur yesterday.
The hub, expected to be launched at the end of 2019, “will function as a centralized customs clearance, warehousing and fulfillment facility for Malaysia and the region, to deliver faster clearance for imports and exports,” Alibaba said.
Alibaba did not disclose its investment size in the hub.
Alibaba said the logistics facility was part of an “e-hub” it was setting up at the free trade zone, part of Ma’s Electronic World Trade Platform (eWTP) initiative that aims to remove barriers to trade for smaller firms and emerging nations.
The “e-hub” in Malaysia will be the first such facility outside China, and will see collaboration between Alibaba affiliates and other Malaysian firms.
Ant Financial — the financial service affiliate of Alibaba that includes Alipay — signed a memorandum of understanding with Malaysia’s top banks CIMB Group and Malayan Banking Bhd to explore collaboration opportunities in e-payment and financing services.
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