FM Global Logistics Holdings Bhd, a logistics solutions provider, has acquired Singapore-based CAC Logistics Services Pte Ltd for RM18.86 million ($5.5 million) cash, as it looks to expand its footing regionally.
CAC is principally engaged in general warehousing, road transportation and other related services. It currently operates 236,496 sq ft of warehousing space in Singapore, FM Global's bourse filing showed.
FM Global's indirect wholly owned subsidiary, FM Global Logistics Ventures Sdn Bhd, inked a sale and purchase agreement with the vendors Anthony Ng Koon Leng and Randy Cheong Yew Fei on Monday for the acquisition.
This post first appeared on The Edge Malaysia. Click here for the full story.
