J&T Express buys Malaysia land for $136m to build integrated logistics centre

J&T Express Mexico launched operation officially.

J&T Express has acquired a 30-acre plot of land in Bandar Rimbayu, Selangor, Malaysia, where it will build an integrated logistics centre to serve the growing needs of the Malaysian market.

According to a statement, the global express logistics company invested $136 million (600 million RM) in the project, which will help it meet the growing demand for express distribution, logistics, transportation and warehousing in Malaysia.

“The new facility will be fitted with our advanced technology, which enables us to better tap on our existing networks to meet the growing demands of the burgeoning e-commerce industry in Southeast Asia,” said J&T Express Group Vice-President Charles Hou.

The development comes as J&T Express seeks to aggressively expand its global footprint to keep up with rising cross border e-commerce demands in Southeast Asia and globally.

In Singapore, J&T Express launched global shipping to over 220 countries and regions, including a new warehouse at Changi Airfreight Centre, to provide international delivery services to local and regional customers.

J&T Express has also embarked on an ambitious international rollout that has seen it enter new markets further afield since the beginning of 2022.

In February this year, J&T Express launched its network in Mexico comprising 12 sorting and 26 distribution centres across all 32 states in the country. The same month, the company established its MENA regional headquarters in Riyadh and built the largest smart logistics industrial park in the region with venture capital firm eWTP Arabia Capital, among others.

J&T Express has reportedly raised $2.5 billion in a funding round at a valuation of $20 billion, ahead of its planned initial public offering in Hong Kong this year.

The company’s main backers — Boyu Capital, Hillhouse Capital Group and Sequoia Capital China — and Chinese gaming and Internet giant Tencent Holdings were among investors in the latest fundraising, Reuters first reported citing multiple sources. In the latest development, Bloomberg News added that Singapore state investor Temasek Holdings has joined the round.

Founded in August 2015, J&T Express’s localised express network serves over 2 billion people across 12 countries today, including China, Indonesia, Vietnam, Malaysia, Thailand, Philippines, Cambodia, Singapore, Saudi Arabia, UAE, Mexico and Brazil.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter

This is your last free story for the month. Register to continue reading our content