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Wednesday March 16, 2011

SingPost raises stake in GDEX to 27%

PETALING JAYA: Singapore Post Ltd (SingPost) has increased its shareholding in Bursa Malaysia-listed GD Express Carrier Bhd (GDEX) from 4.98% to 27.08%.

SingPost said in a statement yesterday that it had acquired 56.838 million GDEX shares through block trades for RM45.47mil.

Meanwhile, in an announcement to Bursa yesterday, GDEX said that SingPost chief executive officer (postal and corporate services) Ng Hin Lee had been appointed director in the company.

In another announcement, it said GDEX did not comply with the public shareholding spread requirement under the ACE Market listing requirements, as its public shareholding spread at March 15 had dropped to 23.76%.

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