TASCO BERHAD (TASCO)

Company Profile: TASCO BERHAD (5140)

TASCO Berhad is not your average logistics company. It is Malaysia's largest third-party logistics (3PL) provider by revenue — operating across air freight, ocean freight, land transport, warehousing, cold chain logistics, and e-commerce supply chain solutions. If you have ever received a parcel from a major corporation or pharmaceutical company in Malaysia, there is a good chance TASCO was involved behind the scenes.

Founded in 1974 and listed on Bursa Malaysia on 28 December 2007, TASCO operates under the corporate umbrella of Nippon Yusen Kabushiki Kaisha (NYK) — one of the world's largest Japanese shipping and logistics conglomerates — through its subsidiary Yusen Logistics.

6 Core Business Segments

• Air Freight Forwarding — approximately 30% of revenue. International cargo forwarding via air routes. This segment is being restructured after TASCO terminated unprofitable routes.
• Contract Logistics — approximately 34% of revenue. The core of TASCO's business: warehouse management, storage, and distribution for long-term corporate clients.
• Ocean Freight Forwarding — international cargo forwarding via sea lanes.
• Trucking Division — domestic and regional road transportation.
• Cold Supply Chain (TASCO Yusen Gold Cold) — the fastest-growing segment. TASCO acquired Gold Cold Transport and MILS Cold Chain, and holds JSA-S 1004:2020 cold chain certification. Demand from pharmaceuticals, vaccines, and frozen food is driving this segment.
• Supply Chain Solutions (4PL) — higher-order supply chain management services including e-commerce fulfilment solutions.

Operational Scale

Growth Catalyst: RM400 Million Expansion

This is the key catalyst investors should monitor. TASCO is investing RM400 million to add 700,000 sq ft of new warehouse capacity by August 2026:

• Shah Alam Logistics Centre Phase 2 — 400,000 sq ft, operational August 2026
• Northport Port Klang — 300,000 sq ft (approximately 50% cold chain with ASRS, 50% general), operational August 2026

Notably, 50% of the new capacity is already pre-committed by existing clients — this significantly reduces occupancy risk once the expansion is complete.

⚠️ Information in this report is for educational and evaluation purposes only. It does not constitute investment advice.

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