PETALING JAYA: Velocity Capital Partner Bhd
(VCPB) is acquiring 150 million shares or a 6.49% stake in information and communications technology (ICT) firm MMAG Holdings Bhd from Chan Swee Ying for RM60mil.
In a filing with Bursa Malaysia, VCPB noted that the rollout of 5G is anticipated to drive demand for upgraded ICT products that are compatible with the new network standards.
“This, in turn, is likely to benefit MMAG’s mobile and fulfilment segment, as it positions itself to meet the growing demand for ICT product distribution, fulfilment and value-added services.”
Additionally, VCPB noted that in the courier and logistics segment, the e-commerce boom continues to fuel demand for logistics services, with the Malaysia courier, express and parcel market expected to grow at a 14.03% compounded annual growth rate.
“MMAG is expanding its hub and depot networks to improve connectivity across Malaysia, enhancing its ability to handle growing shipment volumes.
“The division is also undergoing a digital transformation, incorporating automation and IT-driven logistics solutions to improve operational efficiency, shorten delivery times, and enhance customer experience.”
VCPB also said MMAG’s diversification into the aviation business aims to strengthen its air freight and cargo handling operations by expanding into ground handling services for both cargo and passenger aircraft.
“This includes passenger handling, aircraft services, ramp handling, and cargo operations, alongside aircraft leasing services.
“Additionally, MMAG is enhancing its fleet operations by acquiring aircraft, which will reduce long-term leasing costs and improve flight scheduling efficiencies, reinforcing its position as a key industry player.
