GKE invests in new JV, G-Chem Logistics

The GKE Corporation Limited has invested in a joint venture company, G-Chem Logistics with Kleio One-Solution, to carry out hazardous chemicals warehousing and logistics services for packed products, laden ISO Tanks and chemical drumming.

This investment will further expand the Group’s specialised chemical services to handle and store hazardous chemicals to packed products, ISO Tanks and chemical drumming.

The Group is paying S$300,000 for 65% of G-Chem, while Kleio will own the remaining 35% for approximately S$160,000. The funds will be used to fund the purchase of four units of explosion-proof pallet drum filling machines for its business activities, and working capital. 

G-Chem will operate out of one of GKE’s warehouse premises located with the day-to-day management and operation to be managed by Mr Lin Duanliang. In addition, G-Chem will enter into a licence agreement with the Group for the use of warehouse space and pay a monthly management fee to the Group.

Chief Executive Officer of GKE, Mr Neo Cheow Hui said: “This joint venture will further strengthen the Group’s hazardous chemical storage and logistics capabilities – broadens our range of services and transforms the Group into a one-stop integrated chemical storage and logistics service provider to serve both the chemical and pharmaceutical sectors in Singapore. We believe the horizontal expansion within the specialised chemicals space will augment growth in our core warehousing and logistics business.” 

For more information visit www.gke.com.sg

15th Jan 2018