Ni Hsin Group Berhad via its subsidiary Ni Hsin Ecologistics has entered into an Investment Agreement for the acquisition of 60% interest in Pride Logistics Alliance Sdn Bhd. Established in 2014, PLA is principally involved in the provision of transportation services goods (freight forwarding). The company's business includes freight, forwarding, haulage & transportation, warehouse and international agency services. Managing Director of Ni Hsin Ecologistics, Mr. Khoo Chee Kong said: “We are exploring in the logistics industry to support our food and beverage business where we see it this acquisition complements the ecosystem with us using electric vehicles to delivery. According to Ni Shin, PLA has an experienced team with expertise and knowledge inside logistics that the group can benefit from. Ni Hsin on the other hand manufactures Premium Stainless Steel Multi-ply Cookware for the Asian market. The group manufactures a complete range of steel cookware ranging from pressure cookers, woks, pots and sauce pans for household and commercial use on an OEM or ODM basis. The acquisition comes at a time where the group is seeking enter the logistics business, especially as a Fifth Party Logistics (5PL), where it can manage all chain processes supplies for customers are supported by large warehouses equipped with Automated Store Returns System which are designed to buffer, store and retrieve products and inventory on demand. Other benefits of ASRS include more efficient use of regional space, increase store capacity, improve order retrieval accuracy and improve product safety for premium inventory. "As the supply chain becomes increasingly complex due to trade growth and higher expectations from customers, many businesses are now looking to outsource their logistics management to others, and we are in the best position to seize this opportunity with the support of PLA and our warehouse resources. We believe the share of 5PL providers in the global logistics market will increase significantly over the period these few years. ''Khoo added.