KUALA LUMPUR: Haisan Resources Bhd is venturing into China for the second time via another multi temperature controlled facility (MTCF) in Shanghai, which will be operational by November 2007.

In a statement yesterday, Haisan said its wholly-owned subsidiary IGLO (Shanghai) Co Ltd would be given management of the 229,917.13 sq ft of MTCF plant that could accommodate temperatures ranging from 15 degrees Celsius to minus 28 degrees Celsius.

Haisan president and chief executive officer Ong Chin Yet said the second venture into China would place the company in good stead to tap into the many business sprouting up, and give it a first mover advantage over its competitors.

Haisan said its MTCF would be one of the largest cold room facilities in Shanghai with 25,000 pallet spaces of chilled and frozen storage rooms in different racking configurations.

It had earlier acquired the 398,264.69 sq ft of land for the plant at a cost of about 120 million renminbi (RM60mil). Haisan’s first venture was also a MTCF in Guangzhou in 2003.

Haisan Resources closed at 97.5 sen yesterday.

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