KUALA LUMPUR (Nov 16): CJ Century Logistics Holdings Bhd said it has signed a warehousing, fulfilment and logistics services agreement with Astro Malaysia Holdings Bhd's unit MEASAT Broadcast Network Systems Sdn Bhd.

The logistics solutions provider said the partnership will commence on Dec 1 for an initial period of three years with an option to extend for two more years upon conclusion of the initial term.

CJ Century chief executive officer Steven C H Teow said the award comes at a very opportune time and marks the beginning of a new milestone for the company, particularly after the recent disposal of its loss-making courier services unit.

"We believe that Astro's strategic and long-term view on their supply chain priorities fits very well with what CJ Century does best.

"Having partnered with some of the nation's largest and most successful companies over many years gives us the confidence that we can assist Astro in fulfilling their logistics needs in the years to come," he said in a statement.

CJ Century said its model of value added solutions encompasses warehousing and distribution services that are scaled and customised to cater to the needs of discerning customers as well as improves operational efficiency that positively enhances the clientele and their end customers.

The company said it has net lettable space in excess of 418,000 square metres and employs more than 1,000 people nationwide.

Meanwhile, Astro group chief operating officer and pay-TV chief executive officer Euan Smith said the group is confident that its supply chain management capabilities and operational excellence will play a pivotal role in increasing flexibility for its installers and reducing delivery, installation and service lead time of Astro Ultra and Ulti boxes for its customers, as well as delivering better cost efficiency.

"With CJ Century's customised solutions, we will be able to deliver a holistic easy-to-use, go-to platform and seamless entertainment for our customers," said Smith.

Shares of CJ Century settled unchanged at 60 sen, valuing the company at RM352.14 million.

Meanwhile, Astro's shares slipped two sen or 2.06% to settle at 95 sen, giving the group a market capitalisation of RM4.95 billion.