Malaysia’s MISC is pocketing MYR 358m ($88m) from the sale of a freight forwarding and warehousing subsidiary.
The shipowner said logistics company SWIFT is buying its complete holding in MILS for MYR 257.2m ($63.69m).
SWIFT will also fully repay an MYR 66.8m loan owed by MILS to MISC, and other bills worth MYR 34m.
MILS had net assets of MYR 255.5m at year-end.
