MOL increases stake in PKT Logistics Group

Dream facility: The Waves, a topnotch warehouse facilty at PKT will be contirbuting to CEO Datuk Michael Tio’s dream of a billion-ringgit company.

JAPANESE transport company Mitsui OSK. Lines Ltd (MOL) has completed its acquisition of a 14.27% stake in PKT Logistics Group Sdn Bhd (PKT), thereby increasing its share in the logistics firm to 35.13%.

In a statement on its website, MOL says the additional stake acquisition of PKT shares will strengthen its foothold in Malaysia, as well as its adjacent regions where sustained growth is expected.