PT Resources Holdings Berhad announced that the company has signed a memorandum of understanding (MoU) with Ocean Exchange (Fujian) Foreign Trade Services Co. Ltd. (Ocean Exchange) to establish cooperation between the two parties for the joint development of the Malaysia East Coast International Supply Chain Intelligent Park, which is inspired by the Marché International Cold Logistics and Cross-border E-commerce Project (Fuzhou Park) located in Fujian province, China. The project, which facilitates bilateral trade between Malaysia and China through Fuzhou, China is estimated to be worth RMB 1.562 billion (or approximately MYR 1 billion).

The project involves the establishment of an International Supply Chain Intelligent Park in Kuantan, Pahang, which is intended to drive the development of food and light industries supply-chain between Malaysia and Fuzhou with the aim of rapidly achieving currency internationalisation between the two countries. The International Supply Chain Intelligent Park will encompass amongst others, integrated cold chain facilities to facilitate cross-border supply of consumer food as well as establish a digital financial platform utilising the UnionPay network to streamline and facilitate effortless cross-border payments and settlements between the International Supply Chain Intelligent Park and Fuzhou Park. In addition, the project also aims to boost the trade between the Malaysian seafood wholesale market and China through digital transformation, whilst collaborations with cold chain logistics companies will be initiated to facilitate an integrated logistics supply chain.