Cosco eyes expansion of business operations in Malaysia

COSCO Shipping International Co plans to expand its business operations in Malaysia by obtaining a lease of a piece of land in the port area of Port Klang where it will construct a 300,000 square foot warehouse.

The company is also currently in negotiations with a party in Malaysia with the view of a potential cooperation, which may involve the proposed acquisition of certain logistics businesses, or the collaboration of a logistics partnership business in the country. It added that this will provide synergies to form an integrated platform for the company's logistics business in Malaysia, enabling the group to better provide end-to-end services to its customers with logistics needs.

The group will also collaborate with other Cosco Shipping companies in Malaysia to achieve further synergies for its Malaysian businesses.

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Tokyo: Stocks open higher with eyes on earnings[TOKYO] Tokyo stocks opened higher on Wednesday supported by record levels in New York but investors remained cautious amid corporate earnings season and ahead of an unprecedented 10 days of holidays next week. Read more at The Business Times.
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