20080721-OSK-Trans-Asia Shipping Corporation

Maximising use of space
TRANS-Asia Shipping Corp Bhd (TASCO), a total logistics solutions provider, has acquired a
20,611.447-square metre (5.09 acres) piece of land and a factory complex in Seberang Prai Tengah
from Malaysian Assurance Alliance Bhd for RM10.70mn cash. The acquisition, which will be financed
through internally generated funds, is expected to be completed in December, the company said in a
statement yesterday. Group managing director, Lee Check Poh, said the acquisition is to replace the
company’s Penang Perai Logistics Centre, adding that it has been paying monthly rent to operate the
logistics centre. “The acquisition will enable us to move to a bigger logistics centre in order for us to
expand our capacity as well as overcome our operation constraints. It will also improve our cost
efficiency in the long run,” Lee said. The company expects to move to the new facility by year-end.
(Bernama)