Nexgram To Buy 51 Per Cent Stake In Logistics Firm For RM41.2 Million [Bernama – 14 Jan 16]

KUALA LUMPUR, Jan 14 (Bernama) — Nexgram Holdings Bhd is set to pay RM41.2 million to acquire a 51 per cent stake in logistics solution provider Transeaways Shipping Sdn Bhd from Hopscoth Invest & Trade Inc.

Infire Trading Ltd holds the remaining 49 per cent stake Transeaways, which is principally involved in logistic business in the East Coast of Malaysia.

The purchase was based on, among others, the market outlook of the logistics industry where Transeaways operates as well as its future prospects, Nexgram said in a filing to the local bourse here, Thursday.

The purchase consideration will be fully funded via internal available cash and cash equivalent, it said.