HNA Group Co. is in advanced talks about making a formal takeover offer for logistics provider CWT Ltd. after almost a year of exclusive talks, in a deal valuing the Singapore company at about S$1.4 billion ($1 billion), people with knowledge of the matter said. The Chinese conglomerate is discussing… Read more »
By Anuradha Choudhary
ASL is owned by Onkar Kanwar-promoted business house Apollo group
Conglomerate SM Investments Corp (SM) has forayed into the logistics business with the acquisition of a 34.5 per cent stake in supply chain operator 2Go Group. SM acquired over 884.4 million shares of 2Go’s majority shareholder Negros Navigation Co Inc, priced at $0.14 per share, for a total of $124.5 million…. Read more »
Singapore-based Ezyhaul, a logistics technology startup which also maintains business operations in Malaysia, has closed a S$1.2 million ($836,120) seed investment from a group of undisclosed players in the logistics industry.
2017 and the period until 2020 is likely to see the continued growth of logistics as a growth sector and investment destination for investors interested in tech startups.
Vietnam’s property giant Vingroup has divested its entire stake of 79.96 per cent in logistics arm Phat Loc Express, formerly known as Vinlinks, the company said in a regulatory filing last week.