- Memorandum of Understanding includes launching world-class ambient warehouse, chilled and frozen cold rooms in Wu Hou District to fulfill the logistical requirements of the Chengdu City Supply Chain for the growing Consumer market
Chengdu, China, 11 NOV 2008
Leading Singapore-based logistics and supply chain management company, YCH Group (�YCH�), inked a Memorandum of Understanding (MOU) today with Chengdu Sino-Singapore South West Logistics Co. Ltd, a subsidiary of Frasers Centrepoint Ltd. (�FCL�), to operate and manage the phase 1 Frasers Hub development spanning an area of about 200,000 sq. meters.
The MOU was signed between Mr David Hwang Soo Chin, Deputy Chairman of Frasers Property (China) and Dr Robert Yap, Chairman & CEO, YCH Group, at the Wu Hou District of Chengdu Municipality. Beyond the partnership to offer the state-of-the-art Frasers Hub to the city, the MOU also includes a plan to develop a world class ambient warehouse as well as chilled and frozen cold rooms to serve the needs of the nascent consumer market.
The facility will be optimized for both cold and dry chains, with a focus on FMCG goods such as F&B, consumer electronics and healthcare products, as well as frozen and chilled food. The three-level ramp-up facility will be used by YCH to provide end-to-end supply chain solutions including storage, distribution and other value-added services.
�The launch of our Logistics Park in Chengdu represents a strategic leap forward for YCH in our plans to further enhance our capabilities and network in China. It will enable us to provide the expertise and best practices to China to deepen the inland network further into these cities, for quicker and more efficient distribution. This bolsters our aim to become the preferred end-to-end supply chain management solution provider in Asia,� said Dr Robert Yap, Chairman and CEO, YCH Group.
Mr David Hwang Soo Chin, Deputy Chairman of Frasers Property (China) was also excited about the collaboration and emphasized the importance of this MOU, �Our partnership with YCH in Chengdu provides a unique gateway opportunity for Frasers Property�s growth in China�s real estate industry. We are delighted to be partnering one of the most established logistics and supply chain management companies in Asia to jointly develop a world-class facility to bring best-in-class distribution excellence to the city�.
As one of China�s key economic transportation and communications hubs, Chengdu has witnessed an economic boom with an annual average growth of 14.2% over the last few years and is fast becoming the economy super highway of South-West China. With Chengdu�s economy roaring ahead and the existing huge market for consumer-driven products in the mainland, introduction of world-class logistics management in the region will fulfill the social needs of efficacy amongst fast-paced city dwellers in China. The establishment of the logistics hub at the strategic location of Wu Hou District will allow decreased lead times to end destinations as well as serve as an ideal connecting hub to receive the goods from the main cities.
�Through bringing in more efficient supply chain processes, YCH will help to improve general Food Safety and Hygiene standards especially for the Cold Chain business in Chengdu, as well as optimize distribution routes and provide effective management of trucks in the city. In addition, by bringing in best practices in SCM infrastructure and technologies, we look forward to having YCH contribute to the development of our local talent and expand the base of supply chain professionals in the region,� said Mr. Chen Zhongwei, Director of the Modern Logistics Development Panel of Chengdu city.
"The partnership between YCH and Frasers Centrepoint is a clear example of how Singapore brands can leverage on each other and pursue new markets. This announcement also shows overseas opportunities are still available amidst the current financial crisis and we encourage Singapore-based companies to continue exploring the business potential in China and other growth markets.� said Mr Chong Lit Cheong, Chief Executive Officer of International Enterprise (IE) Singapore, the agency promoting the overseas growth of Singapore-based enterprises and international trade.
As one of the pioneer Singapore firms to enter the Chinese market, in Shanghai in 1992, YCH Group has developed a comprehensive logistics network in the country with presence in gateway cities such as Tianjin, Hangzhou, Xiamen, Shenzhen, Guangzhou, Macau and Hong Kong servicing MNC customers such as Dell, DSM and Motorola. YCH is continuously strengthening its stronghold in the rest of the Chinese market, as China is one of the group�s strongest growth regions; commencing with Chengdu, the company will now embark on building its network in the other second-tier cities of China, to further supplement the SCM requirements of its consumer-driven economy.
About YCH Group
Founded in 1955, YCH Group is the leading integrated end-to-end supply chain management and logistics partner to some of the world�s largest companies, including Dell, Motorola, Canon, Dystar, Solutia, Moet-Hennessy and Frisian Foods. YCH Group�s suite of innovative award-winning end-to-end supply chain management solutions - Intribution�, Intrabution�, Retrogistics�, Y-Merge� and V-Hub� - employ cutting edge web-technologies that are best-in-class across industry clusters from consumer and electronics to chemical and healthcare, to deliver powerful competitive advantages for customers. The Singapore-based company currently operates throughout Asia-Pacific, including Singapore, Malaysia, Thailand, Indonesia, Philippines, Hong Kong, Australia, China, India, Korea, Japan and Vietnam.
A strong proponent of innovation, YCH is recognized for its 7PL� approach in seamlessly integrating supply chain strategy with execution to attain success in the SCM industry. YCH attained the highly-regarded Singapore Innovation Class in October 2005 and was conferred the Asian 3PL of the Year award by Supply Chain Asia in 2007. The company is also a consecutive winner of the highly-regarded Frost & Sullivan ASEAN 4 Logistics Awards for being Singapore�s Best Domestic LSP and Best IT/Electronics LSP two years in a row. As a forerunner in worldwide supply chain security, YCH is the first recipient of the ISO 28000: 2007 certification for excellent security management in the global SCM industry. More information on YCH is available on http://www.ych.com
About Frasers Centrepoint Limited
Frasers Centrepoint Limited (FCL) is a wholly-owned subsidiary of Fraser and Neave, Limited (F&N), a listed Asia Pacific Consumer Group with core expertise in the Food and Beverage, Property, and Printing & Publishing industries.
FCL is a leading Singapore-based property company with a strong global foothold in property development, property investment, serviced residences and investment funds. Under F&N�s stewardship, FCL has evolved from a single shopping centre into an integrated property group comprising shopping centres, real estate asset and fund management, serviced residences, residential homes. Its international property arm, under the �Frasers Property� brand, develops world-class residential, commercial and mixed-used projects in UK, Australia, New Zealand, Thailand, China and Vietnam. More information can be found at http://www.fraserscentrepoint.com
For media enquiries, please contact:
YCH Corporate Communications
Ms Tien Yushan at Tel: (65) 6417 2773 or Email: email@example.com