Pgeon Express Acquires Assets From CJ Logistics Express

Pgeon Express Sdn Bhd, a wholly-owned subsidiary of EasyParcel, announced that it has entered into an asset purchase agreement with CJ Logistics Express Malaysia Sdn Bhd, a courier service company.

Under this agreement, Pgeon will acquire 326 units of commercial vehicles comprising mostly 1-tonners for an undisclosed sum, take over some of CJ Logistics’ branches and offer fresh employment to selected employees. The asset purchase is expected to be completed by the end of this year.

eCommerce boom has led to Pgeon expanding its operation and even saw its revenue double for year. The asset purchase will increase its pickup and delivery capacity by 5 times and serve the rising demand which is expected to achieve 100,000 parcels a day by mid of next year. Apart from the asset purchase, it also looks to boost its operational capacity by acquiring more trucks, expanding its workforce, and investing in automation and digitalisation.

Pgeon has established itself as one of Malaysia’s top self-service drop-off and pick-up service companies, offering low-cost courier services to its customers. By making the delivery of packages more convenient, the company has earned an excellent reputation among its customers.

Founder and CEO of Pgeon Express, Clarence Leong said, “We are thrilled with the tremendous possibilities this acquisition offers – generating value for our shareholders and stakeholders by strategically planning our company’s growth to further strengthen the positioning of Pgeon. Additionally, the purchase of assets would enhance the company’s efforts in building a solid foundation to drive expansion across the region.”

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