Danish shipping company Maersk on Monday said it will invest more than $500 million to expand its supply chain infrastructure in South-East Asia.
Maersk intends to scale up its warehousing and distribution in the region by up to 50% and expects to add nearly 480,000 square metres of capacity across Singapore, Malaysia, Indonesia and the Philippines by 2026, it said.
The planned three-year investment aims to strengthen supply chain resilience and lower the cost of trade, which tends to be two to three times higher in certain Asian markets, Maersk added.
