TSI Group's wholesale hub on track for RM1b revenue
KLANG: TSI Group's wholesale hub in Klang,
called GM Klang Wholesale City, is on track to become Southeast Asia's largest
wholesale centre and make over RM1 billion in revenue yearly.
TSI group managing director Datuk Lim Seng Kok said the wholesale city is the first of its kind in the country.
"Once fully completed, the RM2 billion project will boast more than 3,000 wholesalers spread over four blocks, with a gross floor area of over two million sq ft, with plans to add a business hotel, conference centre and a busines matching centre," Lim said in his speech here yesterday after a new tenancy agreement.
He said GM Klang can meet the need for a wholesale hub in the country and the region as well as bolster halal product activities as it has a dedicated halal hub.
TSI group managing director Datuk Lim Seng Kok said the wholesale city is the first of its kind in the country.
"Once fully completed, the RM2 billion project will boast more than 3,000 wholesalers spread over four blocks, with a gross floor area of over two million sq ft, with plans to add a business hotel, conference centre and a busines matching centre," Lim said in his speech here yesterday after a new tenancy agreement.
He said GM Klang can meet the need for a wholesale hub in the country and the region as well as bolster halal product activities as it has a dedicated halal hub.
Located near various ports in Klang, it serves the needs of many Southeast
Asian companies, Asian nations and become an international gateway for
trade.
The privately-held TSI held a tenancy agreement with 200 new tenants as well as signed a memorandum of understanding with two Chinese partners.
Phase one began operations in October 2009 with 90,000 sq ft of lettable space, housing 330 wholesalers of small merchandise from apparels to information technology (IT) products.
Phase two, known as GM Klang Blok A, is expected to be completed and begin operations in October this year.
It will boast 750 wholesalers and various food and beverage outlets in 10-storey blocks, offering products such as apparels, textiles, bags, timepieces, footwear, spectacles, cosme-tics, stationeries, toys, gifts, and electrical and electronic products.
Meanwhile, TSI also signed MOUs with Xia Bao Wen of SM International Wholesale (China) Centre, Adam Tan of Pearl Harbour Industry and Alex Li Shang Xin.
All the parties will assist in overseas product sourcing and marketing efforts as well as highlight relevant manufacturers and businesses in China who might benefit from GM Klang and bring their products into the country.
This is in line with China's government economic objective of expanding business out of China.
Established in 1987, TSI has over 40 subsidiaries, associates and joint ventures locally as well as overseas. It first ventured into property in 1999 and has undertaken over 3,000 units of various types of property valued at about RM1 billion.
The privately-held TSI held a tenancy agreement with 200 new tenants as well as signed a memorandum of understanding with two Chinese partners.
Phase one began operations in October 2009 with 90,000 sq ft of lettable space, housing 330 wholesalers of small merchandise from apparels to information technology (IT) products.
Phase two, known as GM Klang Blok A, is expected to be completed and begin operations in October this year.
It will boast 750 wholesalers and various food and beverage outlets in 10-storey blocks, offering products such as apparels, textiles, bags, timepieces, footwear, spectacles, cosme-tics, stationeries, toys, gifts, and electrical and electronic products.
Meanwhile, TSI also signed MOUs with Xia Bao Wen of SM International Wholesale (China) Centre, Adam Tan of Pearl Harbour Industry and Alex Li Shang Xin.
All the parties will assist in overseas product sourcing and marketing efforts as well as highlight relevant manufacturers and businesses in China who might benefit from GM Klang and bring their products into the country.
This is in line with China's government economic objective of expanding business out of China.
Established in 1987, TSI has over 40 subsidiaries, associates and joint ventures locally as well as overseas. It first ventured into property in 1999 and has undertaken over 3,000 units of various types of property valued at about RM1 billion.
Source : New Straits Times
Date : 12 June 2012
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