HAISAN Resources Bhd, listed on the second board of Bursa Malaysia Bhd, has entered into a joint venture with Prestige Frozen Sdn Bhd to establish a transportation company, IGC Logistics Sdn Bhd.

Haisan will have a 51 per cent stake in the joint venture, which will enhance its ability to provide more extensive distribution and transportation services to complement its temperature-controlled logistics (TCL) and warehousing businesses

“Besides ensuring that products are manufactured and stored in an optimum quality environment, the manner in which products are transported also plays a vital part in cold-chain logistics management,” Haisan managing director Ong Chin Yet said.

He said Haisan’s TCL customers need a one-stop service provider that not only offers total cold-chain logistics services but also the assurance that quality of products are continuously maintained and preserved.

“By leveraging on our expert knowledge in refrigerated warehouse management and combining it with an integrated distribution arm, we believe that our existing and potential customers will be able to reap the substantial synergies which are inherent,” Ong said in a statement.

Haisan will invest RM255,000 for the 51 per cent stake in IGC

Prestige Frozen will undertake an active role in the day-to-day operations of the transportation company while Haisan will provide strategic business management.