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EZ Secure Storage (M) Sdn Bhd, a professional storage facilities company founded by Naza Group of Companies joint group executive chairman Datuk Wira SM Faisal SM Nasimuddin, is confident of capturing 60% of the storage facility business in Malaysia in five years.
The company, which invested RM5 million to open its first storage facility in Jalan Tandang here yesterday, also expects the storage centre and additional facilities to bring in a revenue of RM50 million to the company over the same timeframe.
Already, EZ Secure plans to open its second storage centre within this year, as it looks to aggressively expand the business to include over 30 storage facilities in Malaysia and other Asian countries such as Indonesia, Cambodia, Vietnam and the Philippines in five years.
SM Faisal, who is founder and president of the company, said the investment for a storage facility ranges from RM700,000 to RM10 million, depending on the size and the market it is in.
“We’re one of the early birds in this (storage facility) business in Malaysia. It took us three years to study (the market) and we’re confident of what we’re offering considering the competitors in the market,” he told a press conference at the opening of the company’s first warehouse here yesterday, which was officiated by Domestic Trade, Co-operatives and Consumerism Minister Datuk Hasan Malek.
SM Faisal said the EZ Secure business is his personal investment and it is complimentary to the Naza Group’s lifestyle business.
“There’s a pent-up demand in storage. We’ve delivered the first unit of secure storage and we believe it will do well. The potential is there,” he said.
The concept of self-storage in professionally managed facilities has gained popularity in the US, the UK, Europe and Australia since it began in Florida almost 60 years ago. It has now also begun catching on in certain parts of Asia such as Singapore, Hong Kong, South Korea and most recently, Malaysia.
EZ Secure offers flexible and cost-effective storage alternatives for home owners and business owners needing space to store their excess inventories, antiques, archived records or merchandise in a carefully guarded location.
The 13,000 sq ft facility here provides a range of units in various sizes with rental spaces ranging from 10 sq ft to 170 sq ft, and rental rates start from RM150 to RM2,000 per month.