Mitsui O.S.K Lines (MOL) has completed the acquisition of 14.27 percent of the shares in Malaysia’s PKT Logistics Group.
MOL acquired 20.86 percent of the shares in March 2017, as HLPFI reported here. Following the acquisition, MOL’s stake now stands at 35.13 percent.
PKT provides end-to-end logistics solutions, including: freight forwarding, Customs brokerage, contract logistics, haulage, distribution, as well as project cargo capabilities servicing the renewables sector.
The logistics company also operates 55,000 sq m of warehouse space at its One Logistics Hub in Shah Alam, Selangor.
The acquisition of PKT shares will strengthen MOL’s foothold in Malaysia and the wider region, where sustained growth is expected, according to the carrier.