CJ is largest shareholder of Century

Efficient network: Century Logstics distribution centre in Port Klang. CJ plans to leverage on the facilities and infrastructure of Century Logistics.

KUALA LUMPUR: Century Logistics Holdings Bhd will see South Korea-based CJ Korea Express Asia Pte Ltd emerging as its single largest shareholder after it bought a 31.44% stake in the former.

There will be a change in Century Logistics’ majority shareholder when founder Datuk Phua Sin Mo and shareholders Datin Lee Lay Hun, Pamela Phua Jo Lyn and Chai Mee Young entered into a conditional sale and purchase agreement with CJ to dispose of their combined 31.44% stake amounting to 120.5 million shares for RM1.45 per share.