Tiong Nam gets new partner for unit

Tiong Nam told Bursa Malaysia the subscription will dilute its stake in TPSB from a wholly-owned subsidiary to a 49%-owned associate company.

PETALING JAYA: Tiong Nam Logistics Holdings Bhd has entered into a shareholders agreement with Create Fortune Enterprise Sdn Bhd.

The deal will see the subscription by Create Fortune of 5.2 million new shares, representing an additional 51% of total issued shares, in Terminal Perintis Sdn Bhd (TPSB) for RM36.7mil.