PETALING JAYA: NexG Bhd is acquiring 175 million shares (or a 7.58 interest) in MMAG Holdings Bhd
from Chan Swee Ying for RM70mil.
In a filing with Bursa Malaysia, NexG said the investment provides an opportunity for the company to diversify into other segments such as investing in MMAG’s supply chain management business.
NexG noted that MMAG are a full-fledged integrated supply chain service provider offering extensive services covering first, mid and last mile delivery solutions in Malaysia and across Asia.
“MAG is expanding its hub and depot networks to improve connectivity across Malaysia, enhancing its ability to handle growing shipment volumes.
“Moreover, 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.”
NexG said MMAG’s strategic initiatives across mobile and fulfilment, courier and logistics and aviation, are expected to drive long-term growth, enhance financial performance, and solidify its market leadership.
