Li & Fung Distribution has spent S$71 million (about HK$309.36 million) on a logistics centre in Singapore which is one of the largest of its kind in Asia.
The group, showing it is not daunted by the slowing US economy, opened the centre yesterday. It has a storage capacity of 44,000 pallet positions and 10 high-speed cranes delivering more than 400 pallets per hour at 36 loading bays.
The centre will facilitate fast-moving consumer goods and pharmaceutical products.
Li & Fung Distribution is one of the three key business groups of the Fung family, along with Hong Kong-listed merchandise sourcing firm Li & Fung Ltd and retailer Convenience Retail Asia.
Li & Fung Distribution is a dominant distributor of consumer goods in Asia, with 50 distribution centres in nine countries.
Chairman and chief executive Victor Fung Kwok-king said the existing economic situation would not be a disadvantage for the distribution business.