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THURSDAY | JAN 15, 2026

Ninja Van bets on integrated logistics

o Industry expected to grow 5% annually from 2025 to 2030

manager at Nomura Corporate Research and Asset Management Inc. Kruse said the global economy had weathered a volatile 2025 better than expected, despite higher-than-anticipated tariffs and geopolitical tensions under Donald Trump’s administration. “In 2026, the drag from tariffs should gradually fade and the economy should return closer to its potential,” he said, adding another year of solid earnings growth is expected globally. While three consecutive years of market gains have pushed price-to-earnings ratios higher, Kruse noted that concerns about overheating would ease if profit growth remains strong. On downside risks, Kruse highlighted three key areas investors should watch. The first is the possibility of the US drifting closer to recession, particularly if consumer spending weakens under sustained cost pressures. “The second is geopolitics,” he said, citing the risk of heightened transatlantic tensions should US policy towards Europe become more aggressive. The third risk lies in technology, where any disruption to current AI customers,” he said, adding that a second key trend that Ninja Van Malaysia sees is the growing demand for integrated logistics solutions. He said many businesses today engage multiple logistics providers to serve different needs – such as e-commerce, B2B distribution, or food-related deliveries – resulting in added coordination and management complexity. “We are increasingly seeing a shift toward a single logistics partner delivering end-to-end solutions, reducing the need to manage multiple vendors, lowering operational overhead, and simplifying internal team requirements. “This integrated approach is a core focus for us in 2026. We are seeing the continued rise of mid-sized shippers – many of whom have grown alongside us over time. “These customers often begin with B2C e-commerce, and as their brands scale, they expand into retail and B2B channels. “While they have outgrown small scale shipping, they have not yet achieved the scale efficiencies available to large enterprises, creating a clear opportunity to support their evolving logistics needs,” Zheng said. Further, he said, Ninja Van Malaysia’s offering spans the entire logistics ecosystem – from manufacturers and distributors to businesses and end consumers – through a fully integrated, end-to end logistics solution. “We support customers with cross-border shipments into Malaysia, inbound transportation to warehouses, and outsourced

investment assumptions could trigger a reassessment of valuations. “If there were a shock suggesting current AI investments are misplaced or unproductive, that would clearly be a downside risk,” he added. Collins said the market is currently pricing in two US Federal Reserve rate cuts this year, a view he described as reasonable given stable employment conditions and inflation that remains sticky but not accelerating. “Lower rates tend to drive higher growth in the near term, which is supportive for emerging markets, demand and exports,” he said, while cautioning that longer-term inflation risks remain. Collins also stressed the importance of diversification amid uncertainty, noting that currency and policy outcomes are far from one-directional. “In an uncertain environment, diversification across asset classes, regions and markets is still your best defence,” he said. On AI, Kruse said, the technology wave is likely to be long-lasting, typically spanning five to seven years, but warned that equity markets often move ahead of fundamentals. fulfilment services. From there, we enable both B2B retail restocking and e-commerce operations, including inventory breaking, picking, and last mile delivery. “Building on this, we recently expanded our capabilities with the launch of cold-chain logistics, supporting temperature-controlled warehousing, cold restocking, and cold last-mile delivery. “This has enabled businesses to scale beyond traditional core markets such as the Klang Valley and expand into previously cost-prohibitive regions, including the East Coast, supporting their growth across the full cold-chain value chain,” Zheng said. He said the Ninja Restock offering leverages the company’s network to support a full range of shipment sizes, from small parcel deliveries to large scale freight. While it initially focused on smaller loads, Zheng said, Ninja Van Malaysia expanded its capabilities to include less-than-truckload and full-truckload services to meet growing customer demand for medium- and large-volume shipments. “This allows us to support end-to-end logistics needs, ranging from individual consumer parcels to 40-foot container movements from manufacturing sites to warehouses or business locations, and has strengthened our large-model network through the expanded services launched in 2025,” he said. Looking ahead to 2026, he said, their focus is on building upon these foundations by further strengthening their integrated logistics capabilities. “Within Ninja Cold, we now

Ű BY JOHN GILBERT sunbiz@thesundaily.com

KUALA LUMPUR: Ninja Van Malaysia expects the domestic logistics sector to grow at approximately 5% annually from 2025 to 2030, with clear implications for their business. Alongside this growth, the company said demand is rising, and service expectations are accelerating even faster. “In Malaysia, we see two key areas of expansion: the increasing presence of regional distribution centres based locally, and the growth of smaller, specialised logistics services—such as cold-chain logistics,” CEO Lin Zheng ( pic ) told reporters at a media briefing yesterday. He said that as Malaysia’s logistics landscape continues to evolve, Ninja Van Malaysia’s perspective is shaped by four key factors. “At the core is a shift in customer priorities from speed to reliability. Customers increasingly value services that are predictable and consistently delivered within defined timeframes, particularly as the cost premium for speed remains high. “As a result, more cost-effective solutions that emphasise reliability, lower failed delivery rates, and reduced damage are becoming the preferred choice for many KUALA LUMPUR: Nomura Asset Management Malaysia expects 2026 to mark a return to more normalised global economic conditions, underpinned by resilient corporate earnings, easing tariff pressures and sustained investment in artificial intelligence (AI), despite lingering geopolitical and policy uncertainties. Speaking at Nomura Asset Management Malaysia’s Breakfast Conference 2026, managing director Leslie Yap said, the firm remains broadly constructive on both global and local markets, with earnings growth continuing to anchor its investment outlook. “At the end of the day, it still comes back to earnings. Fundamentally, we think earnings remain positive. We don’t see major growth, but we do see stability, especially at the domestic level.” The conference featured insights from Richard Kruse, head of global equities at Nomura Asset Management UK and Brett Collins, managing director and client portfolio Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

demand, we are also planning to introduce next-day delivery for less-than-truckload shipments, enabling faster and more reliable LTL solutions. “We will continue to engage actively with the broader community through initiatives such as parcel scam awareness, recognising our responsibility as a large-scale logistics provider serving thousands of customers to help address and mitigate the risks of misuse within the delivery ecosystem,” he said.

handle over 100,000 parcels monthly and remain the only provider offering a fully unbroken B2C cold chain experience, supporting customers as they scale new product categories such as ready-to-eat meals.” For 2026, Zheng said, Ninja Van Malaysia’s focus is on deeper integration with customers, particularly within the industrial manufacturing segment, supported by an expanded suite of value-added services. “In response to customer

Nomura sees steadier growth in 2026

From left: Collins, Kruse and Yap at Nomura’s Breakfast Conference 2026.

continue to benefit,” he said, adding that infrastructure spending, financials and selective consumer sectors remain areas of interest. On AI-related opportunities, Yap said, Malaysia’s role in data centres, manufacturing and semiconductor supply chains positions it to capture spillover benefits without having to pick winners among early-stage startups. “We don’t know who’s going to win in AI. But we know they all need semiconductors and infrastructure.”

“Technological penetration can continue even if equity markets have a bad year,” he said, adding valuations remain critical in assessing risk, especially among loss-making AI software firms. Yap said from a Malaysian perspective, the country remains well positioned to benefit from global stability due to its trade-oriented economy and strong manufacturing and supply chain ecosystem. “As long as the global economy remains stable, Malaysia should