KUALA LUMPUR (June 13): Aspen Group Holdings Ltd, via its 30%-associate company Global Vision Logistics Sdn Bhd (GVL), has acquired 71 acres of leasehold industrial land in Section 16, Shah Alam, Selangor from Chemical Company of Malaysia Bhd for RM190 million.
GVL intends to develop the area into a sustainable integrated logistics, warehousing and e-commerce hub.
"GVL expects to invest at least RM600 million to enhance the logistic facilities and solutions and it is poised to offer prime integrated logistics expertise with approximately 3.3 million square feet in size and some of the largest logistic activities and solutions," Aspen said in a press statement today.
According to the Penang-based, Singapore-listed developer, the proposed development will consist of warehouses, storage areas, distribution centres, offices, e-commerce services, transportation hub and packaging facilities that will have direct access to KTM lines and other major highways.
"The proposed solutions include to provide distinct logistic options such as Second Party Logistics, Third Party Logistics, and Fourth Party Logistics management options; well balanced and managed multinational tenant mix under tenancy with flexible tenure and warehouse size options, integrated facilities and services customised to meet the tenants' objectives and needs; a conducive environment for the intended business activities; and a readily available labour force from the developed and upcoming communities surrounding the proposed development," it added.
The plot of land is strategically situated near the Batu Tiga Toll along the federal highway, and is direct accessible through the Kampung Jawa KTM station, which runs parallel with the railway tracks.
It is also within close proximity to Shah Alam i-City and Subang Jaya township, as well as other cities and townships in the Klang Valley.
"With our experienced partner and the strategic location of the development, we are confident that this development will complement the Digital Free Trade Zone, the brainchild of Jack Ma, the founder of Alibaba Group," said Aspen president and group CEO Datuk M. Murly.
Aspen said the gross development value of the proposed development will be determined once a master development plan is finalised in the near future. — theedgemarkets.com