KUALA LUMPUR (Feb 6): Shares of container haulage company Swift Haulage Bhd soared as much as 8.3% to hit its intraday high of 58.5 sen in the morning session on Tuesday, following news that Thailand-listed SCGJWD Logistics PCL (SJWD) will emerge as a substantial shareholder with 20.44% equity interest.
SJWD, via its wholly owned subsidiary Singapore-based logistics company JWD Asia Holding Pte Ltd, announced on Monday (Feb 5) that it is acquiring the 20.44% stake from Persada Bina Sdn Bhd, Kumpulan Wang Persaraan (Diperbadankan), Kenanga Private Equity Sdn Bhd, Angka Dayamas Sdn Bhd and an individual by the name of Ng Chee Kin, at a price of 63 sen per share, or a total of RM113.4 million.
The proposed acquisition is expected to be completed on Feb 22. In a statement on Tuesday, Swift Haulage said the strategic acquisition by SJWD solidifies a partnership that will allow Swift Haulage to leverage and capitalise on the Thai logistics group’s extensive and wide network across the Asean region and China.
