J Holdings acquires stake in MOVEX as logistics expansion move

Business

Considering the rise of e-commerce and online deliveries in the recent years, J Holdings has entered into an agreement for the acquisition of a significant stake in MOVE Express & Logistics (MOVEX), a technologically enabled third-party logistics service provider (3PL) providing courier and last mile delivery services. The company was set up to facilitate the logistics requirements of Pakistan’s budding ecommerce vertical and corporate business entities, as well as consumers participating in this digital boom.

J Holdings Private Limited has been serving generations for over 70 years by investing in a diverse set of dynamic and growth-oriented businesses including agricultural trading, construction, government sales, logistics, power generation and warehousing, with a focus on creating value for all stakeholders.

J Holdings has successfully managed to build up core expertise within the logistics sector, where it has established itself as one of Pakistan’s pre-eminent supply chain enterprises, with an emphasis on specialised transportation and warehousing needs. It is primarily involved in the movement of bulk cargoes, which includes transportation of sensitive liquids, as well as agricultural commodities, steel, project cargoes and other complex shipments. Over the years, the company has amassed one of Pakistan’s largest aluminium bowser fleets, and has a mix of other asset classes, all hauled by latest generation prime movers.

In addition, J Holdings’ exposure to the logistics business also includes BILTY, which is an online marketplace, matching freight providers with shippers through an easy-to-use application, that adds transparency and liquidity to opaque markets, whilst improving supply-chain visibility.

J Holdings’ latest investment in the sector through its agreement with MOVEX, will not only enable it to offer last-mile delivery, but also the complete gambit of 3PL e-commerce fulfilment services including transportation, warehousing & payment solutions. Through this venture J Holdings aims to resolve Pakistan’s supply-chain issues that were stretched by the Covid-19 pandemic, by providing a complete suite of courier, cargo, parcel and bulk transportation services, warehousing and fulfilment facilities to its customers.

MOVEX, on the other hand, since its founding over 10 months ago, has successfully made its place amongst the top 10 3PLs of Pakistan and continues to grow rapidly. They have over 30 strategically located operational hubs, serving 240 cities and towns. MOVEX has been successfully catering to the needs of 2,200 plus customers from diverse segments like Fashion, Telecom, Market Places, Electronics, Manufacturing, Food and Medical/Surgical Industry, delivering around 10,000 packages daily across the length and breadth of Pakistan.

The acquisition is expected to expand J Holdings’ portfolio, resulting in complementary facilities in-house, and thereby adding supply chain efficiency and increasing productivity to help support its client’s business growth.

J Holdings is pleased to be able to welcome Shafiq Malik, with his over 25 years of logistics experience, and MOVEX to the family and to support them in their effort to revolutionise this growing space through the use of technology, operational efficiency and a focus on customer service.

MOVEX CEO Shafiq Malik said they are excited “on the partnership with J Holdings”. “We are sure to benefit from the diverse exposure of business expansion they bring and believe it will strengthen our overall capability in serving our customers with end-to-end supply chain solutions.”

“MOVEX is expanding rapidly by virtue of this investment. Shortly, we are planning to invest Rs500 million for our operational infrastructure enhancement, technology suite upgradation, process automation and human resource management in order to diversify our service offering. Together we have set ourselves the goal of becoming one of the top 3PLs in the country, InshAllah, delivering best experience to our ever-growing customer base.”

You May Also Like

Pakistani fintech Savyour raises US$3.3m seed to scale the country’s first savings and rewards platform
Pakistan Ranked First on The Economist’s Global Normalcy Index

Tech & Telecom

Business

Education