Smart Warehouse Solutions For Port And Cold-Chain Logistics
Smart Warehouse Solutions For Port And Cold-Chain Logistics
Business Model Description
Invest in companies that adopt the B2B model where they focus on software, hardware, and system integration of smart technology solutions. Companies may also extend track and trace capabilities as a value-add application to end-users. Applications may be cloud-based, often on a subscription model, or be offered as an on-premises solution. On premise solutions refer to technology-based solutions physically hosted on site. Examples of some companies active in this space are:
YGL Convergence Berhad is one of the largest providers of Industry 4.0 and ERP solutions in Malaysia. Its smart warehouse solutions include smart conveyor and racking systems, RFID readers, smart lifts, four-way shuttle systems and multi-device control and monitoring dashboards. In 2020, YGL Convergence Sdn Bhd raised a sum of c. USD 610,00 through a private placement exercise (58).
Trax Retail is a global provider of supply chain management solutions, including smart warehouse technology. They offer real-time inventory tracking, and cloud-based warehouse management systems, and IoT sensors. In 2021, Trax Retail raised USD 640 million through a funding round led by SoftBank Group Corp's Vision Fund 2 and BlackRock Inc (59).
Siemens Malaysia Sdn Bhd is a wholly-owned subsidiary of the German multinational conglomerate Siemens AG. Its smart warehouse solutions include their Logistics Middleware which integrates warehouse management systems with material handling equipment, and the SIWAREX weighing technology, among other AI and IoT systems Siemens raised USD 5.2 billion in funding to date (60).
Expected Impact
Enhance efficiency and seamless movement of goods through smart logistics, thereby decreasing emissions and increasing economic activities and revenue flows.
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
Disclaimer
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The descriptions on this page are provided for informational purposes only. Only companies and enterprises that appear under the case study tab have been validated and vetted through UNDP programmes such as the Growth Stage Impact Ventures (GSIV), Business Call to Action (BCtA), or through other UN agencies. Even then, under no circumstances should their appearance on this website be construed as an endorsement for any relationship or investment. UNDP assumes no liability for investment losses directly or indirectly resulting from recommendations made, implied, or inferred by its research. Likewise, UNDP assumes no claim to investment gains directly or indirectly resulting from trading profits, investment management, or advisory fees obtained by following investment recommendations made, implied, or inferred by its research.
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Country & Regions
- Malaysia: Sarawak
- Malaysia: Selangor
- Malaysia: Melaka
- Malaysia: Johor
- Malaysia: Penang
Sector Classification
Technology and Communications
Development need
Covid-19 highlighted the need to build resilience through digitalization, innovation and effective use of new technologies, especially for SMEs (4). These are also key in addressing (post-)pandemic challenges and national productivity decrease (1, 2, 4). Additionally, the workforce's digital skill set needs to be enhanced to support an inclusive digital transition (2, 3).
Policy priority
MyDigital and 4th Industrial Revolution Policy (2021) aim to transform Malaysia into a digitally driven regional leader and a high-income nation. Emphasis is put on green technology as a driver for ecological transition (target of 45 per cent reduction in emissions by 2030) (42). The Communication and Multimedia Blueprint (2018) highlights the need for talent and innovation (7, 8, 9, 14).
Gender inequalities and marginalization issues
In Malaysia, women-owned businesses and SMEs have lower access and use of Internet (41 per cent for women-led businesses, 62 per cent in average) (6). In Sabah, unlimited access to Internet is lower (54.7 per cent) than the national average (64.2 per cent) (5). In Asia-Pacific, Internet and mobile phone use by the older population is lower than average, especially for older women (4).
Investment opportunities introduction
Malaysia's Fourth Industrial Revolution represents a great opportunity for technology and innovation development, especially in the field of AI, robotics, and big data (10). Additionally, the government aims to attract RM 70.0 billion (USD 15.3 billion) in investments to accelerate digitalization efforts by 2025 (13).
Key bottlenecks introduction
Main challenges for the private sector participating in the digital economy include the lack of preventive measures for anticompetition (with presence of Government-linked companies in the market) and of a skilled digital or tech workforce (6, 11). Access to fixed broadband is also limited (95 per cent nationally, with 46.5 per cent for urban households access and 18.1 per cent for rural ones, in 2020) (9, 12).
Technology
Development need
In Malaysia, the risk of cybersecurity threats has increased as 84 per cent SMEs in Malaysia have been affected by cyber threat incidents and 76 per cent SMEs have suffered more than one attack in 2020 alone (57). Additionally, the lack of technology adoption by businesses limits the national productivity growth and low-carbon transition (14, 15).
Policy priority
The adoption of green technologies for energy, manufacturing, transportation, building, waste and water, as well as technologies such as automation, robotics, AI and the IoTs, are highlighted by the Green Technology Master Plan 2017-2030 and the Fourth Industrial Revolution Policy to drive Malaysia's sustainable growth (14, 8).
Gender inequalities and marginalization issues
More male graduates in the Information and Communication field than female counterparts (4.4 per cent and 3.6 per cent). Women constitute only 21 per cent of the cybersecurity workforce (17, 49). Small size and women-led firms use technology less than bigger and men-led firms, due to lack of financial resources and lower access to financing (11, 47). Transport and logistics sector accounted for 2.5 per cent of female employment in 2021 in Malaysia while for 6 per cent of men (50).
Investment opportunities introduction
The Central Bank will propose two soft loans of RM 1 billion (USD 220 million) to start-ups and SMEs on innovative sustainable technology adopting low-carbon practices (16). The Government introduced a Green Technology Financing Scheme, a Green Investment Tax Allowance, and a Green Income Tax Exemption for MyHijau-certified products and services (14, 20).
Key bottlenecks introduction
In Malaysia, SMEs' digitalization is an ongoing effort (with 92 per cent of SMEs surveyed having adopt digital payment, but 39 per cent having digitalized their production in 2022) (47). In 2020, 87.7 per cent of adults had basic ICT skills (15). Malaysia recorded 57.8 million virus attacks in Q1 2022, for which the country lacks adequate repressive laws and regulations (48).
Software and IT Services
Pipeline Opportunity
Smart Warehouse Solutions For Port And Cold-Chain Logistics
Invest in companies that adopt the B2B model where they focus on software, hardware, and system integration of smart technology solutions. Companies may also extend track and trace capabilities as a value-add application to end-users. Applications may be cloud-based, often on a subscription model, or be offered as an on-premises solution. On premise solutions refer to technology-based solutions physically hosted on site. Examples of some companies active in this space are:
YGL Convergence Berhad is one of the largest providers of Industry 4.0 and ERP solutions in Malaysia. Its smart warehouse solutions include smart conveyor and racking systems, RFID readers, smart lifts, four-way shuttle systems and multi-device control and monitoring dashboards. In 2020, YGL Convergence Sdn Bhd raised a sum of c. USD 610,00 through a private placement exercise (58).
Trax Retail is a global provider of supply chain management solutions, including smart warehouse technology. They offer real-time inventory tracking, and cloud-based warehouse management systems, and IoT sensors. In 2021, Trax Retail raised USD 640 million through a funding round led by SoftBank Group Corp's Vision Fund 2 and BlackRock Inc (59).
Siemens Malaysia Sdn Bhd is a wholly-owned subsidiary of the German multinational conglomerate Siemens AG. Its smart warehouse solutions include their Logistics Middleware which integrates warehouse management systems with material handling equipment, and the SIWAREX weighing technology, among other AI and IoT systems Siemens raised USD 5.2 billion in funding to date (60).
Business Case
Market Size and Environment
> USD 1 billion
5% - 10%
The cold chain logistics industry was expected to record a CAGR of 6.9 per cent between 2016 to 2021. The growth of this segment is driven by pre- and post-production of agri-harvest cycles, with cold transportation via land being the biggest sub-segment (18).
Additionally, the Malaysian freight logistics market is expected to be worth USD 54 billion by 2028. The country's combined traffic at its two busiest ports, Port Klang and Port of Tanjung Pelepas measured in twenty foot equivalent units (TEU) at 24.9 million TEUs in 2021 (19).
Moreover, the growth in the e-commerce sector is expected to drive the growth of this opportunity area, with the gross merchandise value increasing to USD 26.13 billion in 2026, from USD 11.86 billion in 2021 (29).
Indicative Return
5% - 10%
Expert consultations have opined that pure Last mile delivery margins stand at 5 per cent to 10 per cent and are a high volume, low margin game given the number of players in the country, which number at 120 non-universal providers (24, 27).
However, they have also indicated that Software Intergration and development could yield higher gross profit margins if a reasonable cost structure is maintained (23).
Last mile delivery is highly fragmented and a mature, Technological integration can assist in driving down costs for businesses. On the supply side, it presents an opportunity for logistics facility development and upgrading. This translates into more viable last mile delivery service provision.
Investment Timeframe
Medium Term (5–10 years)
Experts in this space would expect a 5-to-7-year investment timeline. This is as PE and VC players investing in such companies would have an average holding period of 5 to 7 years (23, 24).
Ticket Size
> USD 10 million
Market Risks & Scale Obstacles
Capital - CapEx Intensive
Capital - CapEx Intensive
Market - High Level of Competition
Business - Supply Chain Constraints
Impact Case
Sustainable Development Need
Unsustainable logistics and storage contribute to food waste in Malaysia. Around 6 per cent of paddy rice is wasted in transportation and 4 per cent during storage (53). Rate of post-harvest waste for fruits and vegetables is higher, as up to 20 per cent during post-harvest handling and up to 15 per cent during distribution (53).
Road transport directly caused 16.8 per cent of total CO2 emissions (55,586.57 Gg CO2-eq) in 2019 (31, 32). Freight transport is estimated to be responsible for 27 per cent of the overall emissions caused by transportation in Malaysia (54).
Logistics sector in Malaysia has low levels of technology adoption and lacks skilled human capital, especially for integrated warehouse management (30). These constitute obstacles for sustainable and high-quality logistics service and capacity.
As e-commerce is booming in Malaysia (RM 163.3 billion contribution to GDP in 2020 - equivalent to USD 40.825 billion), the logistics flows are intensifying, increasing inefficiencies and challenges in operations (15, 33).
Gender & Marginalisation
Limited number of inland facilities such as warehouses negatively impacts business activities in rural and inland regions (31, 15).
Expected Development Outcome
Smart warehouse solutions improve operations and warehouse management, reducing inefficiencies and errors caused throughout logistics supply chains (31, 15). This could reduce food waste that happen during transportation, storage and distribution, and create economic value for customers (53).
Smart warehouse solutions tend to be environmentally sustainable. They can be up to 20 per cent more energy efficient compared to traditional warehouses, reducing thus the energy consumption and the consequent CO2 emissions (55, 31).
Smart warehouse applications decrease the cost of logistics, increase seamless movement of goods and improve logistics operations, significantly benefiting customers (31, 15). Leveraging IoT for warehouses is estimated to lower costs by up to 60 per cent and improve business performance by up to 30 per cent (56).
Gender & Marginalisation
Smart warehouse solutions can improve the affordability and accessibility of logistics for remote areas, increasing such regions' inclusion in economic activities and thus increasing their economic growth (31, 15).
Primary SDGs addressed
9.4.1 CO2 emission per unit of value added
9.b.1 Proportion of medium and high-tech industry value added in total value added
In 2020, 0.416 kg of CO2 per unit of manufacturing value added (in 2015 USD value), and 0.267 kg CO2 emissions per unit of GDP purchasing power parity (in 2017 USD value) (34).
Medium and high-tech industry contributed to 43 per cent of the total value added created in 2020 (40).
Digital economy to contribute to 22.6 per cent to GDP by 2025 (7).
12.2.1 Material footprint, material footprint per capita, and material footprint per GDP
In 2017, 22.6 tonnes per capita (43).
13.2.2 Total greenhouse gas emissions per year
In 2021, annual CO2 emissions reached 256.05 million tonnes (not including land use change) (36).
Unconditional target of 45per cent reduction in carbon intensity against GDP by 2030 compared to 2005 levels (42).
Secondary SDGs addressed
Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Indirectly impacted stakeholders
People
Gender inequality and/or marginalization
Corporates
Outcome Risks
If not built and controlled properly using climate smart technology, smart warehouses may become energy-intensive and cause increased environmental damage.
Without proper planning, overestimating the demand for warehouses might cause additional environmental damage and waste of resources.
Increased network of warehouses might lead to over increased logistics transport, leading to more environmental harm.
Gender inequality and/or marginalization risk: Investments in smart warehouse might be concentrated in existing logistics hubs, thus failing to contribute to the development of rural areas where such services are required the most.
Impact Risks
Execution risk might occur if correct smart technologies and energy efficiency measures are not employed in the warehouses.
If the warehouse management switches to conventional methods due to high costs and lack of incentives, smart warehouses might not endure long enough for the impact to occur.
Current logistics industry dynamics and access to land in central locations in Malaysia constitute external risks to impact creation (30, 35).
Impact Classification
What
Smart warehouses rendering the logistics sector more efficient and sustainable, while reducing the transport-induced food waste and CO2 emissions.
Who
People and companies working in the warehouses and logistics sector, technology providers and contractors of smart warehouses. Natural environment benefits from reduced environmental harm.
Risk
Execution risk arising from non adapted technology and measures, endurance risk arising from cost and lack of incentives, and execution risk with land access and logistics industry's dynamics.
Contribution
Development of smart warehouses will contribute to accommodate the growing demand for storage activities (e-commerce contribution to GDP almost doubled from 2015 to 2020) (33).
How Much
In 2019, the transport and storage sector amounted to 3.8 per cent of Malaysia's GDP, with a gross value added estimated at RM 57.2 billion (USD 12.52 billion) (35).
Impact Thesis
Enhance efficiency and seamless movement of goods through smart logistics, thereby decreasing emissions and increasing economic activities and revenue flows.
Enabling Environment
Policy Environment
Twelfth Malaysia Plan (2021-2025): the plan highlights the need for improved seamless connectivity, particularly last-mile connectivity in rural and hinterland areas (15).
National Transport Policy (2019-2030): the policy integrates digital warehouse to its Strategy 2.3- Upgrade Hinterland Connectivity to Gateways and Connect Corridors for Improved Economic Distribution and Strategy 2.6 - Modernize Integrated Logistics to Reduce the Cost of Doing Business (31).
Logistics and Trade Facilitation Master Plan (2015-2020): the plan lays emphasis on warehouses as being a facilitator of logistics and as requiring a new and more adapted regulatory framework (30).
Industry4WRD Policy on Industry 4.0: The policy intends to support companies' digital transformation in manufacturing sector through incentives and support for infrastructure, human capital and technology development. Supply chain and operations management are among 21 dimensions of the policy (61)
Malaysia Madani: The Malaysia Madani plan has six main principles of which Innovation is the most applicable to this IOA. Commitments such as MSME resilience and enhancing digitalization adoption are part this framework (63).
Financial Environment
Financial incentives: An initial allowance of 10 per cent and an annual allowance of 3 per cent of qualifying capital expenditure is given for buildings used as warehouses for storing goods for export and re-export. (37)
Financial incentives: Green Technology Financing Scheme (GTFS) provides loans for green technology projects. GTFS offers a 2 per cent interest rate subsidy and a government guarantee of 60 per cent on the financing amount. (44)
The next GTFS is on its way with an increased guarantee after GTFS 3.0 ended in 2022 (61)
Financial/Fiscal incentives: The first RM10 million expenditure incurred within the year of assessment from 2023 to 2027. The scope of automation includes the adaptation of Industry 4.0 elements (62)
Fiscal incentives: Companies that engage in government highlighted and promoted activities or produce promoted products, including logistics and manufacturing, can apply for Pioneer Status. This status grants a 70 per cent tax exemption on statutory income for a period of 5 years (46).
Regulatory Environment
Company Act 2016: requires warehouse operators of ordinary warehouse, Public Bonded Warehouse or Private Bonded Warehouse, to integrate a company under the conditions provided by the law (37).
Environmental Quality Act 1974: regulates the protection and conservation of the environment, as well as the discharge of waste through the prevention, abatement and control of pollution (38).
Customs Act 1967 and the Amendment 2019: govern the import, export, and transit of goods in Malaysia. It outlines the procedures, documentation, and duties related to customs clearance, which are crucial for logistics operations (39).
Regulations from Halal Industry Development Corporation (HDC) and the MS 2400:2019: are relevant for businesses involved in cold-chain logistics for halal products regarding the management of Halal logistics (41).
Marketplace Participants
Private Sector
YGL Convergence berhad; Trax Retail; Siemens Malaysia; XTS Technologies; DNC Automation (M) Sdn Bhd; Daifuku Malaysia Sdn Bhd; Honeywell
Government
Ministry of Transport; Malaysia Digital Economy Corporation (MDEC); Ministry of International Trade and Industry (MITI); Malaysia Investment Development Authority (MIDA); Ministry of Agriculture and Food Security (MAFS)
Multilaterals
United Nations Conference on Trade and Development (UNCTAD); World Bank; International Finance Corporation (IFC); Asian Development Bank (ADB)
Non-Profit
Malaysian National Shippers' Council (MNSC); Malaysia Logistic & Supply Chain Association (MLSCA); Yayasan Inovasi Malaysia (YIM)
Public-Private Partnership
Malaysia Logistics Council (MLC); Port Klang Authority (PKA); Malaysia Airports Holding Berhad (MAHB); Malaysia Automotive Robotics and IoT Institute (MARii)
Target Locations
Malaysia: Sarawak
Malaysia: Selangor
Malaysia: Melaka
Malaysia: Johor
Malaysia: Penang
References
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