MISC sells logistics arm to Swift Logistics for RM358mil

PETALING JAYA: Shipping and maritime firm MISC Bhd, which is consolidating its operations, is divesting its logistics business, MISC Integrated Logistics Sdn Bhd (MILS), that has been in the market for almost two years for up to RM358mil.

Swift Logistics Sdn Bhd, a local logistics service provider that is linked to Pelikan International Corp Bhd president and chief executive officer Loo Hooi Keat, will acquire the logistics company on a “willing-buyer-willing seller” basis.