By SHAZNI ONG / Pic By AFP
Logistics company United Parcel Service (UPS) said it is confident about export growth in Malaysia and South-East Asia amid the economic uncertainty and trade tensions.
Its Asia-Pacific president (South Asia) Michelle Ho said the company saw an average of 10% export volume growth year-on-year (YoY) across South-East Asia in the final quarter of 2018 (4Q18) alone.
“As Malaysia continues to bolster its small and medium enterprises (SMEs), fast and efficient logistics will be fundamental in importing complex components for high-tech products to ensure that international retailers have sufficient stock of Malaysian-made products.
“We are very optimistic about growth in Malaysia, as well as in Asia. In 4Q18, we have already shown a 10% YoY growth in volume in South-East Asia. With everything that is going on now, we do see robust growth continuing,” she said at the company’s media briefing in Kuala Lumpur yesterday.
Ho added that UPS would continue to look for opportunities in Malaysia for areas that they can help to improve on such as high-tech, industrial manufacturing and e-commerce.
Meanwhile, UPS Singapore and Malaysia MD Lim Tze Hsien said the recent raft of service and capacity enhancements undertaken by the company is in line with government-led growth initiatives in support of SMEs and the Digital Free Trade Zone, which aims to boost cross-border e-commerce.
“We do have a really healthy growth YoY. We see a lot more demands for Malaysia. That’s why a lot of enhancements is being done,” he said.
According to the Trade Performance 2018 report released by the Ministry of International Trade and Industry, the country’s strong export performance helped to drive total trade to RM1.87 trillion in 2018.
This was bolstered by a 9.1% increase in manufacturing exports, as well as overall growth in exports to China, Asean, the US and the European Union, among others.
Lim said the Malaysian economy is experiencing an evolution as SMEs, manufacturing and e-commerce take more
central roles in driving growth.
“It is with these factors in mind that we have bolstered our offerings in Malaysia, with network and service enhancements designed to reduce time-in-transit and turnaround times.
“This gives local recipients greater control over their shipments and extend our geographical reach, so that businesses across the peninsula can have access to the same high-quality logistics services available to businesses in major metropolitan and industrial areas,” he added.