It will focus on the construction of its Dubai warehouse while diversifying into oil and gas, chemical storage and cold room to mitigate the impact of the global economic crisis.
Its business in China is down by 20% to 25%. Its business in Malaysia is also down by 30% to 35%. Its volume is down tremendously.
Its objective now is to sustain the company.
Integrated Logistics is involved in providing warehousing and logistics services.
The construction of the warehouse in Dubai began in the fourth quarter of 2008 and was slated for completion by mid-2010. The facility would start operation in the first quarter of 2011 and cater mainly to consumer products.
In 2008, it sold about RM120mil worth of assets in China and Malaysia in line with its growth strategy. The company’s cash position was good and that it was not under financial stress.
Integrated Logistics recorded a pre-tax profit of RM31.9mil for the financial year ended Dec 31 compared with RM14.9mil in 2007.
The China operations contribute 80% to the company’s bottomline while Malaysia contributes 20%.
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