Business

Customer priorities are shifting, with greater emphasis on reliability, consistency, and low damage rates rather than just the fastest delivery 

by SHAUQI WAHAB 

THE logistics sector is entering a slower but more structurally complex phase in 2026, according to Ninja Van Malaysia CEO Lin Zheng. 

The industry is projected to grow about 5% between 2025 and 2030, reflecting rising demand alongside higher service expectations, tighter margins and greater emphasis on reliability rather than pure speed. 

Malaysia’s logistics landscape is being shaped by two key growth drivers, namely the rise of regional distribution centres based in the country and the expansion of specialised logistics services such as cold chain delivery. 

He highlighted that customer priorities are evolving, with reliability, consistency and lower damage rates increasingly valued over fastest-possible delivery. 

“Reliability is the new speed,” Lin said at the company’s logistics 2026 outlook presentation recently. 

He noted that customers are becoming more cost-conscious as premium express services carry higher prices. 

At the same time, businesses are seeking simpler logistics coordination, driving demand for integrated and end-to-end solutions rather than managing multiple vendors for different needs. 

“What we see is the rise of one logistics partner doing end-to-end solutions, with a lot less coordination involved,” he said, adding that this reduces operational complexity and internal costs for shippers. 

According to Lin, online shopping has become common among Malaysian consumers, supporting ongoing growth despite margin pressures (pic: HUSSIEN SHAHARUDDIN/TMR)

‘Inside Shippers’ 

Lin shared that Ninja Van Malaysia has been supporting what he described as “inside shippers,” which are businesses that start small in e-commerce and gradually scale into medium enterprises. 

These growing businesses often lack the scale advantages enjoyed by large players but still require flexible logistics solutions without high minimum order quantities (MOQs). 

He explained that the company’s low MOQ and incremental cost approach allows customers to expand into new locations without the high upfront costs of chartering full truckloads. 

“Our bite-size, incremental cost approach helps them grow, and when they get bigger, they can then utilise full truckloads,” he elaborated. 

Besides positioning Ninja Van as an enabler of small and medium enterprise (SME) growth, the shift from single-channel e-commerce to omnichannel retail represents another structural change shaping logistics demand. 

Lin observed that many brands that started online are now opening physical stores to strengthen their brand presence and reach consumers offline, which requires integrated inventory and fulfilment systems. 

Ninja Van’s ecosystem spans cross- border shipping, warehousing, fulfilment, business-to-business (B2B) distribution and last-mile delivery, allowing businesses to manage both retail and e-commerce operations through a single logistics partner. 

Recapping 2025, Lin said Ninja Van Malaysia strengthened its service portfolio with the launch of new logistics offerings, including cold chain services, international shipping routes and expanded B2B capabilities. 

The company now serves over 20 million recipients, has helped more than 1,000 businesses grow through its Ninja Cold service, and has delivered over 3,000 tonnes via its less-than-truckload (LTL) operations. 

These developments have reduced the company’s reliance on traditional parcel delivery as newer business segments scale up. 

On the macroeconomic front, he said cost-of-living pressures are no longer the main driver of delivery volumes, as shipping prices have generally declined due to intense competition. 

Instead, demand is shaped by how shippers price their products and absorb platform commissions. 

Lin added that online purchasing behaviour is now deeply ingrained among Malaysian consumers, supporting continued volume growth despite margin pressures. 

Addressing regulatory issues, industry players have provided feedback to authorities on proposals such as mandatory courier pricing, warning that poorly calibrated price floors could raise costs across the ecosystem and dampen e-commerce activity. 

He stressed that sustainability, rather than aggressive price competition or rapid capital market moves, remains Ninja Van’s priority. 

“The focus for us now is really to be sustainable as a business as a whole.” 

Any IPO considerations would come only after achieving long-term operational stability, Lin added. 

Looking ahead to 2026, he said the domestic parcel market is becoming increasingly saturated, making double-digit growth unlikely. 

Instead, the industry is expecting more modest volume growth of around 5% to 10%, driven by organic e-commerce demand and some industry consolidation. 

“We see the market is becoming saturated, so we do not see growth as high as previous years,” Lin said. 

Competitions from independent companies such as Lazada and Shopee are causing more friction in the market. 

Lin noted that diversification into less crowded segments is critical to sustaining long-term growth. 

With Ninja Cold, businesses can scale rapidly, including handling large order volumes generated through livestream commerce (Pic courtesy of Ninja Van)

Cold Chains Emerge as Key Growth Engines

Cold chain logistics, particularly business- to-consumer (B2C) delivery, is emerging as a major growth pillar, particularly on food products such as marinated meats sold online and shipped nationwide. 

Lin highlighted Ninja Van’s position as the only provider offering an unbroken B2C cold chain network across West Malaysia, enabling businesses to sell temperature-sensitive products nationwide. 

“Before this, there was no real B2C solution that could send cold chain parcels across Malaysia,” he said. 

Many sellers were previously limited by geography and point-to-point delivery constraints. 

With Ninja Cold, businesses can scale rapidly, including handling large order volumes generated through livestream commerce. 

“We expand to do more areas in the B2B cold chain where there are less competitors in these areas, and we see there are more ways we can differentiate in the market.” 

However, he did acknowledge that Malaysia’s cold chain network is not on the same par as compared to countries such as Japan. 

Despite that, he said that it is not impossible for Malaysia to catch up to their standards in the near future. 

The company is also scaling capacity cautiously, with growth dependent on customer uptake across different sectors. 

Looking ahead, Lin said Ninja Van aims to grow alongside Malaysian entrepreneurs as they expand from online sales into retail distribution and exports. 

“If you can support their growth, we can grow together,” he added. 

Lin highlighted three core themes guiding Ninja Van Malaysia’s strategy, which are reliability over speed, integrated logistics as the next competitive edge and cold chain as a defining growth engine. 

As competition intensifies and the market matures, Ninja Van aims to differentiate by supporting businesses as it scales from small online sellers into multi-channel, nationwide operators.

• This article first appeared in The Malaysian Reserve weekly print edition

The post Reliability overtakes speed as Malaysia’s logistics market matures appeared first on The Malaysian Reserve.

Customer priorities are shifting, with greater emphasis on reliability, consistency, and low damage rates rather than just the fastest delivery 

by SHAUQI WAHAB 

THE logistics sector is entering a slower but more structurally complex phase in 2026, according to Ninja Van Malaysia CEO Lin Zheng. 

The industry is projected to grow about 5% between 2025 and 2030, reflecting rising demand alongside higher service expectations, tighter margins and greater emphasis on reliability rather than pure speed. 

Malaysia’s logistics landscape is being shaped by two key growth drivers, namely the rise of regional distribution centres based in the country and the expansion of specialised logistics services such as cold chain delivery. 

He highlighted that customer priorities are evolving, with reliability, consistency and lower damage rates increasingly valued over fastest-possible delivery. 

“Reliability is the new speed,” Lin said at the company’s logistics 2026 outlook presentation recently. 

He noted that customers are becoming more cost-conscious as premium express services carry higher prices. 

At the same time, businesses are seeking simpler logistics coordination, driving demand for integrated and end-to-end solutions rather than managing multiple vendors for different needs. 

“What we see is the rise of one logistics partner doing end-to-end solutions, with a lot less coordination involved,” he said, adding that this reduces operational complexity and internal costs for shippers. 

According to Lin, online shopping has become common among Malaysian consumers, supporting ongoing growth despite margin pressures (pic: HUSSIEN SHAHARUDDIN/TMR)

‘Inside Shippers’ 

Lin shared that Ninja Van Malaysia has been supporting what he described as “inside shippers,” which are businesses that start small in e-commerce and gradually scale into medium enterprises. 

These growing businesses often lack the scale advantages enjoyed by large players but still require flexible logistics solutions without high minimum order quantities (MOQs). 

He explained that the company’s low MOQ and incremental cost approach allows customers to expand into new locations without the high upfront costs of chartering full truckloads. 

“Our bite-size, incremental cost approach helps them grow, and when they get bigger, they can then utilise full truckloads,” he elaborated. 

Besides positioning Ninja Van as an enabler of small and medium enterprise (SME) growth, the shift from single-channel e-commerce to omnichannel retail represents another structural change shaping logistics demand. 

Lin observed that many brands that started online are now opening physical stores to strengthen their brand presence and reach consumers offline, which requires integrated inventory and fulfilment systems. 

Ninja Van’s ecosystem spans cross- border shipping, warehousing, fulfilment, business-to-business (B2B) distribution and last-mile delivery, allowing businesses to manage both retail and e-commerce operations through a single logistics partner. 

Recapping 2025, Lin said Ninja Van Malaysia strengthened its service portfolio with the launch of new logistics offerings, including cold chain services, international shipping routes and expanded B2B capabilities. 

The company now serves over 20 million recipients, has helped more than 1,000 businesses grow through its Ninja Cold service, and has delivered over 3,000 tonnes via its less-than-truckload (LTL) operations. 

These developments have reduced the company’s reliance on traditional parcel delivery as newer business segments scale up. 

On the macroeconomic front, he said cost-of-living pressures are no longer the main driver of delivery volumes, as shipping prices have generally declined due to intense competition. 

Instead, demand is shaped by how shippers price their products and absorb platform commissions. 

Lin added that online purchasing behaviour is now deeply ingrained among Malaysian consumers, supporting continued volume growth despite margin pressures. 

Addressing regulatory issues, industry players have provided feedback to authorities on proposals such as mandatory courier pricing, warning that poorly calibrated price floors could raise costs across the ecosystem and dampen e-commerce activity. 

He stressed that sustainability, rather than aggressive price competition or rapid capital market moves, remains Ninja Van’s priority. 

“The focus for us now is really to be sustainable as a business as a whole.” 

Any IPO considerations would come only after achieving long-term operational stability, Lin added. 

Looking ahead to 2026, he said the domestic parcel market is becoming increasingly saturated, making double-digit growth unlikely. 

Instead, the industry is expecting more modest volume growth of around 5% to 10%, driven by organic e-commerce demand and some industry consolidation. 

“We see the market is becoming saturated, so we do not see growth as high as previous years,” Lin said. 

Competitions from independent companies such as Lazada and Shopee are causing more friction in the market. 

Lin noted that diversification into less crowded segments is critical to sustaining long-term growth. 

With Ninja Cold, businesses can scale rapidly, including handling large order volumes generated through livestream commerce (Pic courtesy of Ninja Van)

Cold Chains Emerge as Key Growth Engines

Cold chain logistics, particularly business- to-consumer (B2C) delivery, is emerging as a major growth pillar, particularly on food products such as marinated meats sold online and shipped nationwide. 

Lin highlighted Ninja Van’s position as the only provider offering an unbroken B2C cold chain network across West Malaysia, enabling businesses to sell temperature-sensitive products nationwide. 

“Before this, there was no real B2C solution that could send cold chain parcels across Malaysia,” he said. 

Many sellers were previously limited by geography and point-to-point delivery constraints. 

With Ninja Cold, businesses can scale rapidly, including handling large order volumes generated through livestream commerce. 

“We expand to do more areas in the B2B cold chain where there are less competitors in these areas, and we see there are more ways we can differentiate in the market.” 

However, he did acknowledge that Malaysia’s cold chain network is not on the same par as compared to countries such as Japan. 

Despite that, he said that it is not impossible for Malaysia to catch up to their standards in the near future. 

The company is also scaling capacity cautiously, with growth dependent on customer uptake across different sectors. 

Looking ahead, Lin said Ninja Van aims to grow alongside Malaysian entrepreneurs as they expand from online sales into retail distribution and exports. 

“If you can support their growth, we can grow together,” he added. 

Lin highlighted three core themes guiding Ninja Van Malaysia’s strategy, which are reliability over speed, integrated logistics as the next competitive edge and cold chain as a defining growth engine. 

As competition intensifies and the market matures, Ninja Van aims to differentiate by supporting businesses as it scales from small online sellers into multi-channel, nationwide operators.

• This article first appeared in The Malaysian Reserve weekly print edition

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RENEUCO Bhd has received a notice of termination from Tenaga Nasional Bhd (TNB) for a power purchase agreement relating to a 50MWac solar photovoltaic project in Pahang.

The notice, received by its 95%-owned subsidiary PKNP Reneuco Suria Sdn Bhd on Jan 19, cited breaches including failure to achieve commercial operation within 180 days of the extended deadline of Sept 29, 2024, the appointment of a receiver or manager over the project’s assets, and the failure to provide or renew a RM45 million delay payment bank guarantee.

As a result, PRSSB remains liable to TNB for a delay payment amounting to RM45 million.

The PPA, signed on Aug 19, 2021, was for the sale of electricity to TNB over a 21-year period.

In a filing with Bursa Malaysia, Reneuco said its board has submitted an appeal to TNB, seeking reconsideration and withdrawal of the termination notice. –TMR

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OIL and gas services and equipment firm Carimin Petroleum Bhd has acquired a 19.5% stake in Sealink International Bhd for RM39.98 million, making it the largest shareholder in the offshore marine services group.

In a filing with Bursa Malaysia today, Carimin said it bought 97.5 million shares from Sealink’s executive chairman Lo Ling via a direct business transaction at 41 sen per share, a 15.5% premium to Sealink’s five-day average price.

The acquisition was funded entirely through internally generated funds and does not involve any liabilities or additional financial commitments.

Carimin said the investment is purely financial in nature, with no immediate plans to be involved in Sealink’s operations, although potential collaboration in vessel operations and maintenance services may be explored in the future.

“The acquisition provides Carimin with an opportunity to strengthen its financial position in anticipation that the prospects and growth of Sealink group will translate into positive trajectory of Sealink share prices,” it said.

Following the transaction, Lo retains a direct 0.56% stake in Sealink. –TMR

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SUNWAY Bhd has said its RM11.04 billion bid to acquire IJM Corporation Bhd remains on track, despite ongoing investigations by the Malaysian Anti-Corruption Commission (MACC) into the latter.

In a clarification to Bursa Malaysia today, the diversified group said the proposed offer is “proceeding in accordance with the Rules on Take-overs, Mergers and Compulsory Acquisitions issued by the Securities Commission Malaysia.”

The statement comes after a volatile two-day period for IJM, during which its share price fell sharply and several bank accounts were restricted following MACC enquiries into an alleged RM2.5 billion money laundering scheme and suspected share price manipulation.

Sunway’s board reiterated that the transaction remains subject to internal and shareholder approvals.

“The proposed offer is subject to the approval of the shareholders of Sunway to be sought at an EGM of Sunway to be convened,” the company said.

On Jan 12, Sunway launched a conditional voluntary takeover offer for all 3.5 billion IJM shares at RM3.15 per share.

If completed, the deal would create one of Malaysia’s largest property and construction groups.

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OXFORD Innotech Bhd, via its wholly owned subsidiary CG Solutions Enterprise Sdn Bhd, has secured a RM4.8 million contract to supply precision steel components for a data centre airflow management project by a US-based technology group.

The contract, awarded through the Singapore office of an Australia-based data centre specialist, will commence next month and is expected to be completed by end-2026.

“The award is a strong validation of our technical capabilities and execution strength in supporting mission-critical jobs, particularly in meeting stringent project requirements and tight delivery timelines. The contract will contribute positively to our earnings in the current fiscal year,” its MD Ng Thean Gin said.

Ng added that the group remains positive on its outlook, supported by resilient demand in the semiconductor sector and ongoing investments in high-specification manufacturing and data centre infrastructure across the region. — TMR

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MALAYSIA Aviation Group (MAG) has promoted Bryan Foong Chee Yeong (picture) as CEO of its airline business, effective Feb 1, 2026.

Foong, currently group chief strategy officer, will oversee Malaysia Airlines, Firefly and Amal, while his strategy role will be succeeded by Low Wen Long.

Both will report to incoming group president and CEO Captain Nasaruddin A Bakar, who assumes the top role on the same day, replacing outgoing Datuk Captain Izham Ismail, who retires after more than 40 years with MAG.

MAG said the appointments strengthen leadership as the group advances its Long-Term Business Plan 3.0, driving growth in core businesses and ensuring financial stability.

“As MAG enters the next stage of its transformation, marking a shift from stabilisation to scaled and disciplined growth, we are guided by a clear responsibility to build a financially sustainable and globally competitive aviation group that serves as a key enabler of Malaysia’s long-term development,” Nasaruddin said.

Foong played a key role in MAG’s financial restructuring during the Covid-19 pandemic and in returning the group to profitability, while Low has been involved in shaping the group’s strategic initiatives since 2018, including fleet planning, network optimisation and long-term positioning. — TMR

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ELRIDGE Energy Holdings Bhd, via its wholly owned subsidiary Bio Eneco Sdn Bhd, has signed a memorandum of understanding (MOU) with Thailand-based Berkana Power Co Ltd to supply biomass fuel to the country’s power generation market.

Under the agreement, BioEneco will deliver 10 shipments annually, totalling around 100,000 metric tonnes of biomass fuel over an initial one-year period.

The MOU includes an automatic renewal option, providing a framework for ongoing supply subject to mutually agreed terms.

“This MOU reflects Bio Eneco’s ability to support regular, high-volume biomass fuel deliveries for regional power generation demand. Thailand remains an important market for biomass energy, and this collaboration allows us to deploy our production and logistics capabilities in a structured and repeatable manner,” its CEO Oliver Yeo said.

“Beyond the annual volume, the shipment cadence and renewal structure provide operational visibility and flexibility for both parties. This aligns well with our strategy of building a balanced contract portfolio across long-term and shorter-cycle supply arrangements in the region,” he added.

The MOU supports Elridge Energy’s strategy to expand its regional biomass footprint while leveraging its production facilities and logistics network to meet Southeast Asia’s growing renewable energy and power generation needs. — TMR

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AGX Group Bhd said its wholly owned subsidiary, AGX Logistics (M) Sdn Bhd, has been awarded a tender by Malaysia Airlines Bhd for air freight forwarding and customs brokerage services.

Under the services agreement, AGX will provide air and sea freight forwarding as well as customs brokerage services for the shipment of aircraft parts and other goods related to Malaysia Airlines’ operations.

The contract is for a period of three years, effective from Dec 1, 2025 to Nov 30, 2028.

AGX will also provide round-the-clock services for shipments classified as “Aircraft on Ground”.

AGX said the appointment aligns with Malaysia Airlines’ ongoing efforts to modernise its fleet and enhance operational efficiency, as the national carrier continues to rely on capable maintenance, repair and overhaul and logistics partners to support fleet readiness and compliance requirements.

“This award from MAS expands our portfolio and strengthens AGX’s position as a third party logistics solutions provider to the aviation sector. In parallel, the success of our Vietnam-based subsidiary in securing the service agreements with both VietJet and Sun PhuQuoc Airways marks AGX’s strategic entry into Vietnam’s aviation logistics sector, ” its Group CEO Datuk Ponnudorai Periasamy said.

He added that the logistics sector is set to expand in tandem with the MRO industry as growing aircraft fleets, more complex supply chains and the need for just-in-time delivery of high-value components drive demand.

Supported by factors such as stronger regional connectivity, the continued recovery in air travel and ongoing fleet expansion across ASEAN, he said, demand for aviation logistics services is expected to remain robust.

AGX said the contract strengthens its long-term strategy and positions the group to capture opportunities arising from growth in the regional aviation logistics and MRO ecosystem.

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STEEL Hawk Bhd said its wholly owned subsidiary, Steel Hawk Engineering Sdn Bhd, has secured a subcontract from Eternity Mode Sdn Bhd for the procurement, construction and commissioning of fire-rated doors for the Sabah region.

The contract was secured on Jan 20, 2026, and runs for a duration of two years and nine months until Oct 31, 2028.

Steel Hawk said the contract is on a call-out basis and does not have a fixed contract value, with services to be provided as and when required by Eternity Mode.

The group added that the contract is expected to contribute positively to the group’s earnings for the financial year.

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