Come up together!
CJ Century Logistics Holdings Bhd has signed a warehousing, order fulfillment and logistics services agreement with Astro Malaysia Holdings Bhd.
According to CJ Century chief executive officer Steven C.H Teow, the partnership will take effect on Dec. 1 for 3 years with the option for an extension of another 2 years after the initial expiration.
He added that the collaboration came at a very opportune time and marked a new beginning for the company especially after the recent disposal of its loss-making courier services unit.
CJ Century stated the value of their model encompasses warehousing and distribution services that are scalable and tailored to meet customer needs, while improving their operational efficiencies. In the meantime, it also stated that they have rentable space in excess of 418.00 square meters and will employ more than 1,000 people worldwide.
Meanwhile, Astro group chief operating officer Euan Smith said they were confident its supply chain management capabilities and operational excellence would play an important role in increasing flexibility for installation and reducing Astro Ultra and Ulti box delivery, installation and service times for its customers, besides being able to deliver better cost efficiency.
CJ Century shares remained at 60 sen and its company value was RM354.14 million, while Astro shares declined 2 sen or 2.06% to 95 sen with a market capitalization of RM4.95 billion.
