Freight Management to buy three US companies

Freight Management Holdings logo

PETALING JAYA: Freight Management Holdings Bhd has proposed to acquire three freight forwarding services companies in the United States for a total US$2.2mil (RM9mil) as part of its expansion initiatives into selective international markets.

In its filing with the stock exchange, the company said its indirect wholly-owned subsidiary FM Global Logistics Ventures Sdn Bhd has entered into a stock purchase agreement with several independent third parties to acquire the entire issued shares of Inter-Orient Services, Inter-Orient Corp and Noble Shipping Corp (collectively known as IOS companies).

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