Swift Haulage’s stake reduction a positive

PETALING JAYA: Believed to be at a favourable price, Swift Haulage Bhd’s reduction of its stake in the Shah Alam International Logistics Hub (SAILH) is anticipated to inch up its earnings and reduce its gearing.

To note, the integrated logistics provider is selling a 12.5% stake in Global Vision Logistics Sdn Bhd (GVL), the developer of SAILH, for RM44.4mil to IJM Corp Bhd, paring down its interest to 30% from 42.5%.