KUALA LUMPUR: Express bus operator GETS Global Bhd, which wants to expand into the city bus services, plans to acquire nearly 80% stake in Pengangkutan Awam Putrajaya Travel & Tours Sdn Bhd (PAPTT)
GETS Global, via its unit Konsortium Bas Ekspres Semenanjung (M) Sdn Bhd, inked an MoU with Putrajaya Leisure & Services Group Sdn Bhd (PULSE) on Thursday to acquire the latter's 79.99% stake in PAPTT – a public transport provider in Putrajaya -- for a token sum of RM1.
PULSE is a unit of Perbadanan Putrajaya and is involved in hospitality, F&B, recreation and logistics services. Perbadanan Putrajaya also holds the other 20.01% stake in PAPTT.
PAPTT has 170 buses and offers Putrajaya city bus services for both internal and external routes, as well as bus rentals and leasing. Its total share capital is RM300,000.
According to GETS Global, it is seeking an opportunity to venture into city bus services to complement its existing express bus services and bus sales, repair and maintenance services.
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