Entrepreneurship in the Asia-Pacific by Jing Wang & Michitaka Kosaka & Ke Xing & Hua Bai

Author:Jing Wang & Michitaka Kosaka & Ke Xing & Hua Bai
Language: eng
Format: epub
ISBN: 9789813293625
Publisher: Springer Singapore

7.2.2 The Outline of PKT

In 1974, Dato’ Tio Sook Keo founded a trading company called Port Klang Trading in Shah Alam, Malaysia. The company was renamed and is operating today as PKT Logistics Group Sdn Bhd. Their motto is “We serve… with passion.” PKT is currently considered a leading logistics company not only in Malaysia but also in the Asia Pacific region. To reach this position, PKT had to differentiate itself by changing its business philosophy from the standard to the service concept perspective. In doing this, they are strongly committed to providing a total logistics service-based solution to customers through mutual cooperation among stakeholders. The services include end-to-end design, implementation, and operation of logistics solutions in freight forwarding, customs brokering, contract logistics, haulage, and distribution management for large and medium-sized national and multinational companies (Business Times, Oct 25, 2016). The leadership of DMT, Group Chief Executive & MD of the company, was behind this change and the eventual success of PKT.

However, it was initially a partnership company whose customers thought PKT was a very small company because only small companies do a partnership. The turnover was only 2 million Malaysian ringgit (MYR) per annum. Now, PKT is a limited company (Sdn. Bhd.) and ranked fifth in Malaysia in the logistics service industry with the turnover 300 times what it was before. PKT has created its own brand image, and it has the top ten licenses for costumed brokerage including other services. PKT has expanded its business with international collaborators. PKT has already formed a venture business with Japanese company Utoc Express (whose name changed from Utoc Corporation). Utoc Logistics is a subsidiary of Mitsui groups (e.g., Mitsui Sumitomo, Mitsui O.S.K. Lines, Ltd., and Mitsui Bussan trading house, which are all restructured and owned by MOL Logistics). PKT also joined a venture with a Korean company called Asia Pacific Express that led PKT into the Korean market. PKT has also started another joint venture with Massa Logistics and Okamoto Logistics Co., Ltd. to become an automotive specialist.

Furthermore, PKT has expanded its business into non-automotive sectors as well. It has focused on fast-moving consumer goods (FMCG), Food & Beverage (F&B), and energy segments with the plan of earning 40% of company’s total revenues.

PKT is operated by about 400 energetic employees who are eager to manage almost 200 hundred high-profile customers such as Kia Motors, Hyundai Motor Company, Mitsui O.S.K. Lines, Ltd. (MOL), Mazda Logistics Co., Ltd. (Malox). In this, to manage the all business aspects, PKT developed its physical infrastructure as well such as the company built new advanced generation warehouse called ‘The 12 Waves’ (as shown in Fig. 7.1).

Fig. 7.1PKT new warehouse ‘The 12 Waves’ at Penang, Malaysia

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.