The company represents an alliance between CEN Sdn Bhd, Konsortium Perkapalan Berhad (KPB), Pos Malaysia Bhd and Transmile Group Bhd. Both Pos Malaysia and Transmile have both previously been linked, directly or indirectly, to KPB, Malaysia's leading logistics and transportation company owned and controlled by a group led by Mirzan Mahathir.
The newly formed company is in an excellent position to capitalise on Malaysia's growing importance as a centre for collection, distribution, transportation and communication inherent with being the region's logistics hub, according to CEN Worldwide managing director Martyn Wright.
"We have the advantage of being able to provide a full range of express distribution services by making use of the resources of our major shareholders," Wright said.
CEN Worldwide is targetting a turnover of US$400 million by the year 2001.
It will establish an air network to regional centres such as Jakarta, Manila, Shenzhen, Yangon (Rangoon) as well as cities in Thailand, Cambodia and Vietnam in the future, he said.
CEN's ownership structure will enable CEN Worldwide to tap the combined skills, infrastructure and resources of its major shareholders, CEN CEO, Mirzan Mahathir, said, while adding that KPB adds a network of distribution and warehousing facilities in logistics management and developing customer-specific solutions to CEN Worldwide's portfolio.
The formation of CEN Worldwide represents an important juncture in the development of Malaysla's freight industry, Transport Minister, Ling Liong Sik, said, adding that it also reflects growing confidence in Malaysia's fast-growing and international freight transportation industry.
Express freight delivery which accounted for a mere 4.4 per cent of the Asia-Pacific region's freight transport in 1994, is expected to increase 30 per cent by the year 2020, in line with US trends, the minister said.
The Malaysian government has said it is aware of the growing importance of the industry and will encourage its growth through recognition, support, commitment and critical infrastructure development.