Eng Kong boosts stake in China firm
Integrated logistics operator also names new chief exec
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SINGAPORE-BASED integrated logistics operator Eng Kong Holdings yesterday increased its stake in a logistics group in China and also announced a new CEO, as it seeks to expand in the region.
Eng Kong announced yesterday that it has increased its stake in Tianjin Keyun International Logistics Group (Keyun) after it acquired a further 50 per cent of Gold Prime Holdings Limited (GPHL), the holding company of Keyun. It first acquired a 30 per cent in GPHL in 2008.
As part of the transaction, Keyun's business has been segregated into two segments: the depot business in which Eng Kong now holds an 80 per cent stake and the non-depot business in which it holds a 15 per cent stake.
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