EPF FORMS PARTNERSHIP WITH ALLY LOGISTIC PROPERTY TO BUILD LOGISTICS HUB IN BUKIT RAJA, KLANG
KUALA LUMPUR, 6 October 2022: The Employees Provident Fund (EPF) and Ally Logistic Property Co. Ltd. (ALP) have entered into a Shareholders Agreement to develop a 100% pre-leased logistics hub in Bukit Raja, Klang, Selangor. The EPF will invest up to 70% stake in the joint venture company, ALP BR (Malaysia) Sdn. Bhd. (ALP BR). The remaining 30% will be held by ALP.
The modern logistics hub will be located at Bandar Bukit Raja, Klang, Selangor, on 27 acres of freehold land. The logistics hub will be equipped with the Automated Storage and Retrieval System, or ASRS technology, providing increased efficiency and flexibility for tenants.
The hub is expected to be completed by the third quarter of 2024, with a gross floor area of more than 1.8 million square feet and 100 thousand pallet positions in the shared Automated Storage and Retrieval System zone. Upon construction completion, ALP BR will lease out the entire warehouse to ALP under a 15-year master lease agreement.
EPF Chief Executive Officer Datuk Seri Amir Hamzah Azizan said, “We are very excited with this partnership with ALP to develop a high-tech logistics hub in Bukit Raja, Klang. The asset will provide the EPF with the opportunity to invest in prime quality logistics asset and generate stable rental income for both the EPF and ALP.
“Our selection of ALP as our investment partner for logistics real estate was driven by ALP’s reputation and knowledge as a global sector specialist, possessing a high-quality portfolio. This partnership presents a strategic opportunity for the EPF to ride on the growth of the logistics sector, which is expected to continue to accelerate, further driven by the vibrant e-commerce market and supply chain diversification by major players,” he said.
Co-Founder and Chief Executive Officer of ALP Charlie Chang said, “As ALP expands its quality assets into Southeast Asia, we see Malaysia as a great starting point to introduce our modern logistics infrastructure due to its appreciation for innovation. Our partnership with the EPF will be for the long term in Malaysia and beyond.”
Issued by the EPF Media Desk
Corporate Affairs Department
6 October 2022
About the Employees Provident Fund (EPF)
The Employees Provident Fund (“EPF”) is one of the oldest retirement funds in the world. Established in 1951, the EPF is a social-security organisation focused on safeguarding member savings and delivering excellent services. In recent years, in line with its vision of helping members achieve a better future, the EPF has expanded its role to encompass the creation of a comprehensive social well-being ecosystem. Today, the EPF remains steadfast in its commitment to members through consistent efforts to update and improve itself, in order to build the foundation for sustainable, holistic and equitable well-being for all Malaysians.
About Ally Logistic Property (ALP)
Ally Logistic Property, Co., Ltd. (ALP) is the most innovative total warehousing solution provider in the Taiwan logistics industry, providing cutting-edge smart warehousing solutions, including warehousing property, automation system integration, and warehousing services. Established in 2014, ALP has constructed six awe-inspiring logistics parks and is now managing over 570,000 square meters of space, growing its warehousing portfolio to one of the largest in Taiwan. By integrating the resources and talents of diverse backgrounds, ALP solves the most complicated logistics processes for its clients and provides them with simpler, smarter, more sustainable solutions through its smart warehouses. With its strong presence in Taiwan, ALP is commencing its strategy into SEA and launching its first OMega project in Malaysia to set new standards and inspiration for smart logistics infrastructure.