Tiong Nam: More tax incentives needed to spur logistics

KUCHING: More tax incentives are needed to spur the expansion and modernisation of the logistics sector, says Tiong Nam Logistics Holdings Bhd ( Tiong Nam).

Tiong Nam is continuously expanding its cross-border logistics services and warehousing capacity to capture regional growth opportunities.

“We hope that the government will provide more tax incentives to spur the expansion and modernisation of the logistics sector,” executive director Victor Ong said when asked what he wished to see in Budget 2021.

“This is essential to growth in trade and economic activities, as a technologically advanced, efficient, and robust supply chain is crucial to Malaysia’s competitiveness.

“We continuously invest in expanding and upgrading our logistic fleet and warehousing facilities to ensure we deliver excellent services, hence capital or tax incentives would help accelerate progress.”

Tiong Nam also looked forward to more incentives for implementation of automation and digital technologies in the logistics sector, including data management and analytics solutions.

“Higher operational automation and use of digital technologies would enhance the efficiency and reliability of the logistics sectors, and thus empower industries to grow and become more competitive on a global scale.”

Additionally, the group hoped for more green incentives for the logistics sector, such as for transitioning to greener logistic fleet and facilities.