Haisan sees demand for Viet facility 

Cold storage and logistics firm Haisan Resources Bhd expects a healthy take-up rate for its soon-to-be-opened US$12 million (RM40.8 million) facility in Vietnam, helped by the country's booming economy.

"We are already talking to potential customers. Some of them have given us their verbal commitment. However, we can only sign the actual agreement once the facility is ready," group chief executive officer Ong Chin Yet told Business Times after its extraordinary general meeting in Kuala Lumpur last Thursday. At the meeting, shareholders approved the disposal of its 50 per cent-owned facility in the Philippines.

The disposal will bring Haisan's facilities to two - one in Malaysia and another in Guangzhou, China.

By the end of this year, it will have two more facilities in Shanghai and Vietnam.

Haisan provides cold room warehousing as well as logistics services to companies in the food industry. Food manufacturers finding it too costly to set up their own coldrooms will appoint companies like Haisan to solve their warehousing and logistic needs.

©BTimes. 20070604