Ikhlas invests US$18mil in logistics firm GMI

Ikhlas Capital Singapore Pte Ltd is a private equity (PE) firm co-founded by former banking head honcho Datuk Seri Nazir Razak.

PETALING JAYA: Ikhlas Capital Singapore Pte Ltd, a private equity (PE) firm co-founded by former banking head honcho Datuk Seri Nazir Razak, has invested US$18mil (RM78.12mil) in Philippine-based cold-chain logistics service provider Glacier Megafridge Inc (GMI).

“We are excited to be a part of GMI’s growth story, as we believe the company has a strong competitive edge with its state-of-the-art facilities and highly experienced management team, ” said Nazir, who is also Ikhlas chairman.