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PKT Logistics Group Sdn Bhd is deferring plans to list on the local bourse to focus on bigger growth prospects, particularly in the Asean region.

The logistics company, which had initially planned to go public by the middle of this year, may now only make its debut as early as 2015.

“After our initial announcement to go public, we were approached by several parties who are interested in a logistics profile in Asean.

“We are looking at various options to maximise our potential, especially with a partner who can compliment and expedite our strategy to go regional,” group chief executive and managing director Datuk Michael Tio told StarBiz.

“I intend to further boost our expansion through their capital injection before finally listing the company.

“Both parties have agreed (that the best time) to list the company is after achieving our “Wawasan 1B vision” by the year 2015, when we become one of the biggest logistics company in Malaysia.”

Tio said the company would not be able to fund some of its current and near-term projects if it lists this year.

“Initially, we intended to raise RM30mil from the listing but now with the One Auto Hub (OAH) in the Northern Corridor, One Eastern Hub (OEH) in the East Coast Economic Region (ECER) and a couple of logistics infrastructure projects in Indonesia and Thailand, it won’t be sufficient for our expansion.”

Tio said PKT intended to invest RM80mil for its hub in ECER over the next three years and over RM500mil for the OAH over the next five years.

“It will cost more then earlier projected. The OAH comes in stages and will funded by a consortium of users.

“Since we place ourselves as quality logistics provider, we do not intend to push our project through if we cannot find the funding.”

Separately, Tio said the company was in the process of obtaining the Green Building Index (GBI) certification for The Lighthouse, the final structure of the company’s “One Logistics Hub” in Shah Alam.

“The funding and general contractor for The Lighthouse was awarded last year.

“They’re going through the process of getting building permission which is very tedious nowadays.”

PKT’s other structures at its One Logistics Hub are its cross-dock distribution centre (The Ship) and regional distribution centre (The Waves). Tio said with the completion of The Lighthouse, PKT’s One Logistics Hub will be the biggest hub in Malaysia, totalling 780,000 sq ft in size.

“We have invested RM40mil in The Ship, RM80mil for The Waves and RM40mil will be invested in The Lighthouse. The total investment on One Logistics Hub will be RM160mil.”

Besides local operations, PKT has also ventured into Thailand, Vietnam, Indonesia, Cambodia, Laos, Taiwan, India and Korea.

Tio said the company was considering expanding its presence into China.

“It depends on the type of logistics.

“As for the warehousing business, not many foreigners have penetrated into China partly due to its law.

“We would like to move to this region doing business we are most familiar with for our existing customers.”

Established in 1974, PKT initially offered only customs brokerage services but is now offering total logistics services.

Its core business is in automotive logistics, which accounts for 80% of total revenue currently. The company’s other business is in fast moving consumer goods (FMCG).

According to previous reports, PKT had initially targeted a 60:40 revenue ratio from the automotive and FMCG segments by 2013.

“It (the target) is very tough but we are still doing our very best to make it happen, especially when our automotive business is growing at a stronger pace.

“However, if you look into our entire short and medium term plan, it is all for the non-automotive business.

“Today, PKT is considered an FMCG player to be reckoned with. If someone were to build a warehouse, they need to benchmark with us,” he said.

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