KUALA LUMPUR (March 6): MMAG Aviation Consortium Sdn Bhd (MAC), the aviation division of MMAG Holdings Bhd, announced on Wednesday that its subsidiary Oceanic Transhipment Sdn Bhd has formed a strategic joint venture with Macau's Asia Express Ltd and Suniao Supply Chain Sdn Bhd for the oceanic transhipment hub it has set up in the Cainiao Aeropolis eWTP Hub at the Kuala Lumpur International Airport (KLIA).

Asia Express, which is primarily a cargo sales agent for airfreight companies operating in China and Malaysia, is taking up a 20% stake in the hub, while Suniao will hold 10%. Suniao is a logistics company that focuses on cross-border e-commerce market from China to Southeast Asia.

The entry of the JV partners will ehance the hub's capacity to meet surging seafood demands in Asia, particularly in China, according to MMAG in a statement.

The hub spans 26,000 sq ft and is equipped with specialised fish tank working areas and cold storage facilities to ensure the highest quality and freshness standards, it said.

MAC chairman Woo Kam Weng said the hub's establishment is a strategic move to create a gateway for Malaysian and regional seafood to access new markets, thereby bolstering trade and economic growth.

MAC's role is fundamental in orchestrating the overall management and operation of the JV, including the provisioning of warehouse and business operation spaces and aligning the hub with all regulatory standards to establish a seamless and efficient transshipment process, said MMAG.

"The synergy between our partners, Asia Express Ltd and Suniao Supply Chain Sdn Bhd, will leverage their established networks, particularly in China, to ensure that the oceanic transhipment hub not only meets but exceeds expectations in servicing the demand for premium seafood in Asia," Woo said.

Shares in MMAG Holdings Bhd remained unchanged at 10.5 sen at Wednesday's close, with the company valued at a market capitalisation of RM178 million.