PETALING JAYA: Velocity Capital Partner Bhd
(VCPB) is acquiring 150 million shares, or a 6.49% stake, in information and communications technology (ICT) firm MMAG Holdings Bhd from Chan Swee Ying for RM60mil.
In a filing with Bursa Malaysia, VCPB noted that the rollout of 5G is anticipated to drive demand for upgraded ICT products compatible with the new network standards.
“This, in turn, is likely to benefit MMAG’s mobile and fulfilment segment, as it positions itself to meet the growing demand for ICT product distribution, fulfilment and value-added services.”
Additionally, MMAG is expanding its hub and depot networks to improve connectivity across Malaysia, enhancing its ability to handle the growing shipment volumes driven by the eCommerce boom.
