MISC selling logistics subsidiary

Kuala Lumpur:  MISC is selling its logistics subsidiary to UPSB for RM250m as it continues to narrow its focus onto energy shipping.

“The proposed disposal is in line with the initiative of the board of directors of MISC to divest MISC’s non-core integrated logistics business, unlock the value of MISC’s investment in MILS and to strengthen the financial position of MISC and its subsidiaries to focus on its core business in the energy and petroleum related shipping as the operating conditions of the shipping industry enters a new cycle and recovers in the coming years,” MISC said in a statement.  [24/03/14]

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