Swift Haulage’s plan to buy KP Depot positive

MIDF Research, which is maintaining a “buy” call on the stock, saying the proposed acquisition is expected to strengthen the group’s network of container depot services.

PETALING JAYA: The proposed acquisition of KP Depot Services Sdn Bhd by Swift Haulage Bhd bodes well for the group as it is set to fortify its container depot services amid downside risks.

The integrated logistics service provider’s wholly-owned subsidiary, Swift Integrated Logistics Sdn Bhd, had recently entered into a memorandum of understanding (MoU) with Sowatech Sdn Bhd and KP Port Services Sdn Bhd for the acquisition of the entire equity interest in KP Depot Services.