SHAH ALAM, MALAYSIA – Media OutReach Newswire – December 29, 2023 – Supply chain and logistics service provider BEST Inc said its largest sorting center in Southeast Asia, located in Selangor, the Most developed state in Malaysia, expected to open in 2024.
In addition to building a 220,000 square meter facility in Malaysia, the company aims to connect Thailand, Vietnam, Singapore and Malaysia in its logistics network, enabling better cross-border express delivery between these countries next year.
“As many Chinese companies deploy resources and invest in manufacturing facilities in Southeast Asia to support the tangible growth of the Belt and Road Initiative, they have asked us to provide more personalized services to keep their supply chains running in the region,” said Johnny Chou, chairman and CEO of the company based in Hangzhou, Zhejiang province.
Fueled by growing trade volume between China and the Association of Southeast Asian Nations, an ongoing consumption boom in ASEAN member economies and thriving cross-border e-commerce in the Asia- Pacific, the Chinese company listed in New York has already built services. overseas networks and warehouses in several Southeast Asian countries.
After entering Thailand, its first market in Southeast Asia, five years ago, BEST has expanded its cross-border business by establishing new international routes between China and Southeast Asian countries. In the first half of 2023, it connected China with the Philippines and Indonesia through its services.
Unlike other logistics service providers, BEST did not enter the market by first establishing transportation routes. Instead, it invested in building express networks and its own distribution centers in major logistics cities in Thailand, Vietnam, Malaysia and Singapore.
“Equipped with automated facilities, the distribution centers are able to ensure the reliability, scalability and marginal cost reduction potential of our service networks in Southeast Asia,” Chou said.
Highlighting that cross-border e-commerce plays a leading role in trade between China and ASEAN, he said the Belt and Road Initiative (“BRI”) has made regional connectivity a reality, thus guaranteeing sustainable economic development in the region. .
China and other participating countries have engaged in foreign trade valued at $19.1 trillion since the launch of the BRI, with bilateral investments exceeding $380 billion, according to data from the Ministry of Commerce.
Chou said the company will offer more services encompassing small parcels, express delivery and warehousing between China and Southeast Asian markets, meeting the outbound needs of domestic manufacturing companies and trading companies. cross-border electronics.
Meanwhile, Mr. Lu Miao, Managing Director of BEST Inc Malaysia highlighted the company’s commitment to excellence, saying: “The newly inaugurated sorting center symbolizes BEST Inc’s unwavering commitment to pursuit relentless pursuit of excellence, pushing the boundaries of logistics technology and infrastructure. »
Lu Miao believes that this platform will play a central role in optimizing the efficiency, speed and reliability of the movement of parcels and goods, thereby supporting businesses and communities across Southeast Asia .
BEST Inc’s gross profit reached 51.8 million yuan (RM33.62 million) in the third quarter of this year. Revenues generated by its international arm BEST Global increased by 30.2% year-on-year, according to its financial report.
As of the end of September, the Chinese company had 33 self-operated express sorting centers, more than 1,200 service points and business operations across six Southeast Asian countries, with 47,000 m² of floor space. ‘storage.
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