PETALING JAYA: Sin-Kung Logistics Bhd plans to acquire a loss-making company that sells and leases aircraft for RM20.7mil from Tan Sri Halim Mohammad and his spouse.
The group proposed to purchase the entire equity of Prima Air Sdn Bhd, seeking to venture into the business of private jet charter as well as air freight cargo services to its existing customers.
Prima Air holds air service permit and air operator certificate that are valid until March 31, 2025 and Dec 31, 2025 respectively. The permit and certificate allow Prima Air to conduct non-scheduled commercial air transport operations.
In the financial year of 2023, Prima Air made a loss after tax of RM6.7mil. Sin-Kung will fund the buy via internally generated funds and borrowings.
