Kerry Properties has formed a consortium to submit an expression of interest to the Airport Authority for the development of a logistics centre at Chek Lap Kok.
The joint venture was unveiled yesterday after the company revealed its annual profit to December 31 increased by a year-on-year 2.42 per cent to $1.23 billion, in line with market expectations.
Chairman Edward Kuok Khoon Loong said other consortium members included Changi International Airport Services, Air Ocean Express, UPS Worldwide Logistics Asia and China Merchants Holdings (International).
William Ma Wing-kai, director and group general manager of Kerry Properties subsidiary Kerry Logistics, said the consortium brought in Changi International Airport Services and Air Ocean Express owing to advanced development of logistics centres in Singapore.
The Chek Lap Kok project, which would take two years to complete, was one element of the group's plan to develop a Pan-Asian network of logistics centres with e-commerce capabilities, he said.
Mr Ma said the group was also exploring opportunities to expand its logistics centres into Singapore, Thailand, Malaysia and the mainland.
Kerry Properties chief financial officer Chew Fook Aun admitted the group had discussed spinning off its warehouse and logistics divisions but gave no details. He said various merchant bankers had approached the group since its logistics division expanded into e-commerce support services for on-line retailers and Web businesses.