Jul.11--JAPAN's logistics and distribution services provider, Suzue Corporation, has set up a joint venture company in Malaysia with its local partner Geniki Holdings SDN BHD, the holding company of Geniki Lines, a container shipping company in Malaysia.

??The joint venture contract was signed at a ceremony in Kuala Lumpur on July 1. With a capital investment of MYR500,000 (US$155,786), the Japanese company will hold a 51 per cent stake in the new joint venture.

??Suzue said in a press release that the establishment of the joint venture company will enhance its services in Southeast Asia by meeting customers' needs in a timely and satisfactory manner. It has already set up networks in Asia, including China, Vietnam, Thailand, Indonesia, and Myanmar.

??"Our strategy is in line with the commitment to build an ASEAN Economic Community by 2015, where realisation of tariff reduction and liberalisation in this economic community will surely promote free flow of goods within ASEAN. With our dedication to expand and reinforce networks in Southeast Asia, Malaysia is surely going to be one of our most important hubs," the company said.

??Commenting on the joint venture, managing director of Geniki, Lau Yew Choong, said, Geniki Lines is encouraged to have its own vessels call at ports in Japan in the near future."

??(Source:shippingazette)