[070417.EN.BIZ] MOL Buys 20.9pc of Malaysia's PKT Logistics to Optimise Joint 'Synergies'

JAPANESE shipping giant Mitsui OSK Lines (MOL) has purchased a 20.9 per cent share of PKT Logistics Group, a provider of forwarding, customs brokerage, contract logistics, haulage and distribution.

"This acquisition provides MOL with an opportunity to enhance its capabilities in Malaysia, by leveraging the synergies between MOL Logistics and PKT," MOL said.

"This acquisition signals MOL's commitment to serve its customers' needs for quality logistics solutions, in the Asian region, said the company statement.

"Since year 2000, the Malaysian economy has consistently seen annual growth rates of over five per cent and it is expected to continue growing strongly, integrating itself further into the ASEAN Economic Community," MOL said.

"With its advantageous geographical location, excellent highway network, international seaports network and other well-established logistics infrastructure, Malaysia is poised to be the next regional logistics hub," said the company statement.

Source : HKSG.