MMAG inks JV for perishable goods transshipment business

KUALA LUMPUR: MMAG Holdings Bhd's unit, MMAG Aviation Consortium Sdn Bhd, has entered into a joint venture and shareholders agreement with Asia Express Ltd and Suniao Supply Chain Sdn Bhd to undertake the business of providing oceanic and perishable goods transshipment solutions.

In a filing with Bursa Malaysia, MMAG said the JV company, Oceanic Transshipment Sdn Bhd, will be 70% owned by its subsidiary while Asia Express and Suniao will hold 20% and 10% stake in the company respectively.