MMAG unit to buy 60% in Koli Express

Temporary anti-dumping measures on ethanolamine products produced in the Malaysia, Saudi Arabia, Thailand and the United States is also being introduced.

PETALING JAYA: MMAG Holdings Bhd’s wholly owned subsidiary, Line Clear Express & Logistics Sdn Bhd, has entered into a subscription agreement with Singapore-based Koli Express Pte Ltd, where Line Clear will subscribe for 45,000 new ordinary shares at a price of S$300,000 (RM888,060), representing 60% of the share capital in Koli Express.

Upon completion of this share subscription, Koli Express will become a 60%-owned subsidiary of Line Clear, and as such, a sub-subsidiary of MMAG.