CJ Korea Express becomes biggest shareholder in Malaysia’s Century Logistics
CJ Korea Express has bought a 31.5% stake in the Malaysia-based Century Logistics Holdings. According to local sources, CJ Korea Express secured the stake for $43.5m and is now the Malaysian firm’s largest shareholder.
Established in 1970, Century Logistics has a network of eight logistics centres and 600 trucks, generating annual sales of $80m.
“Century Logistics has strong points in cross-border logistics,” according to a CJ Korea Express statement reproduced in the local press. “We will be able to make safe entry into the Southeast Asian market when our parcel delivery service is combined with Logistics’ nationwide network.”