SHAH ALAM: PKT Logistics Group Sdn Bhd plans to list on the local bourse by mid-2012. The company intends to raise funds for expansion purposes, according to group chief executive and managing director Datuk Michael Tio.
“We intend to list the company either in the first or second quarter of next year. We are targeting to have five million sq ft worth of warehouse space by 2015. We already have one million sq ft and have another four million (sq ft) to go,” he told StarBiz.
Additional costs will include land cost and domestic reinvestments within the next four years.
Tio: ‘We want to grow … being listed will help us achieve that.’ “We need funds for the expansion and the best way to do it is by listing the company,” Tio said.
Listing the company would provide PKT Logistics with better recognition and enhance its reputation and confidence among investors, he said, adding: “We want to grow the company in the region and being listed will help us achieve that. You won’t be recognised if you’re just a sendirian berhad company.”
Established in 1974, PKT Logistics 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).
PKT Logistics is targeting a 60:40 revenue ratio from the automotive and FMCG segments rby 2013. Besides local operations, it has also ventured into Thailand, Vietnam, Indonesia, Cambodia, Laos, Taiwan, India and Korea.
On another note, PKT Logistics said it would be investing RM40mil to set up a 200,000 sq ft multi-storey distribution centre (MDC) called The Lighthouse.
“The six-storey MDC is expected to be completed by the middle of next year,” Tio said, adding that The Lighthouse would be the third and final phase of development for the company’s “One Logistics Hub” that would sit on 27 acres of land here.
PKT Logistics’ other structures on the plot of land are its 180,000 sq ft cross-dock distribution centre, The Ship, and a 380,000 sq ft regional distribution centre called The Waves.
Tio said the company would be moving its present warehouse operations at The Ship to The Lighthouse once the latter had been built.
“We have a customer who wants to take over the warehouse facilities at The Ship,” he said. The Ship consists of 30,000 sq ft corporate space and 150,000 sq ft of ambient warehouse. “The Lighthouse will complete our One Logistics Hub. Once completed, it will have a total built-up area of 760,000 sq ft. Total investment would be RM120mil. It (the hub) will be one of the biggest (logistics site) in South-East Asia,” said Tio.