KUALA LUMPUR: Shares in Malaysia Airports Holdings Bhd (MAHB) rose over 3% in early trade Wednesday following news of the commencement of Cainiao Aeropolis Electronic World Trade Platform (eWTP) Hub.
The airport operator added 3.13%, or 13 sen to RM4.28, making it one of the top gainers on Bursa Malaysia.
The Cainiao Aeropolis eWTP Hub is a new e-fulfilment hub jointly owned by MAHB and Alibaba Group.
The hub is a major project under the eWTP partnership between the Malaysian government and Alibaba in 2017.
Operated by Alibaba's logistics unit,Cainiao Smart Logistics Network, the hub is expected to facilitate 24-hour delivery within Malaysia for e-commerce operators, with the goal of enabling 72-hour global delivery.
MAHB is targeting to double the number of freighter flights at the KLIA in the next 10 years following the commencement of operations of the Cainiao Aeropolis eWTP Hub.
Group CEO Datuk Mohd Shukrie Mohd Salleh said with the growth in cargo volume, the airport operator was looking at improved airline connectivity via KLIA with new routes and increased flight frequency, belly space utilisation and freighter capacity.