PETALING JAYA: The reopening of international borders is set to benefit Tiong Nam Logistics Holdings Bhd
, as the increase in economic activities is likely to spur growth for the company’s logistics division.
TA Research in a report yesterday said the return of foreign workers would also boost Tiong Nam’s confidence in launching its Kota Masai property project, as the risk of delay would now be diminished.
“Tiong Nam has postponed the project launch to the first quarter of 2023 from the fourth quarter of 2022, albeit for a smallish gross development value of only RM36mil.
“With the full economic and border reopening, the company is expected to turn aggressive in developing the remaining landbank of 203 acres at Kota Masai if the first launch receives overwhelming response.” Tiong Nam offers comprehensive logistics solutions.
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