Sparrow Freight International – Logistic hub in Malaysia
Alibaba Group Holding Ltd said on Wednesday it would set up a logistics hub in Malaysia, the latest in a string of Chinese investments including in infrastructure and real estate projects, underscoring the close ties between the two countries.
The hub will be part of a digital free trade zone that was launched by Malaysian Prime Minister Najib Razak and Alibaba’s founder and executive chairman Jack Ma in Kuala Lumpur.
The hub, expected to be launched end-2019, will function as a centralized customs clearance, warehousing and fulfilment facility for Malaysia and the region, to deliver faster clearance for imports and exports.
Alibaba said the logistics facility was part of an “e-hub” it was setting up at the free trade zone, part of Ma’s Electronic World Trade Platform (eWTP) initiative that aims to remove barriers to trade for smaller firms and emerging nations.
The “e-hub” in Malaysia will be the first such facility outside China, and will also include collaboration between Alibaba affiliates and other Malaysian businesses.
Ant Financial - the financial services affiliate of Alibaba that includes Alipay - signed a memorandum of understanding with Malaysia’s top
banks CIMB Group Holdings Bhd and Malayan Banking Bhd to explore collaboration opportunities in e-payment and financing services.
The banks will allow Chinese tourists to use Alipay e-wallet services in Malaysia.