Sanichi confirms RM1.5 billion e-commerce hub in Johor with PDZ
Sanichi Technology Bhd has confirmed that the company is working in partnership with PDZ Holdings Bhd to develop a regional e-commerce logistics hub in Johor, that will cost over RM1.5 billion.
The New Straits Times (NST) reported today that the logistics hub is designated to handle activities related to transportation, separation, coordination and distribution of goods for local and international transit, similar to Alibaba Group, and will target supply-chain players.
The NST it seems has seen a document stating that the hub is expected to be developed over 234 acres in Desaru, Kota Tinggi.
It said both PDZ and Sanichi will jointly apply for approval from the relevant government agencies in Johor to develop the hub.
We have been reporting this news in the last one week and it shows that our sources are reliable.
The NST quoted Sanichi group managing director Datuk Sri Dr. Pang Chow Huat confirmed that the company is planning to develop the e-commerce logistics hub with PDZ.
Pang said the logistics hub is a mixed-development, comprising an e-commerce center, a distribution center, warehouses and a transit center and that “it will run into several billion ringgit.”
He said both PDZ and Sanichi plan to develop the logistics hub to ride on the exponential growth in the e-commerce business across Asia.
The e-commerce business for many companies around the world has grown significantly since the outbreak of the Covid-19.
More and more people are purchasing household items from online to safeguard or to prevent themselves from catching the Covid-19.
Sanichi is a property developer. Its on-going development is Marina Point located in Melaka.
The stock rose 1 sen or 13.33 per cent higher today to close at 8.5 sen and we believe with this great big news, it will send the stock flying.
Prior to December 2018, the stock was trading between 10 sen and 25 sen. It did trade at a high level of 50 sen to 80 sen between August 2015 and July 2016.
PDZ is involved in the container liner business. According to its website, it operates six vessels that cover domestic and regional trade between Malaysia, Brunei, Singapore and Myanmar.
The stock has shot up by more than 200 per cent from nine sen on July 7 to its closing price of 24 sen today, boosting its market capitalisation from RM79.79 million to RM208.35 million.
The stock rose 3 sen or 14.63 per cent higher today, and a total of 581 million shares were traded today.
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