2 November 2017 12:01 am
Blue chip John Keells Holdings PLC (JKH) will own 100 percent of Trans-ware Logistics, a company involved in renting of storage space, with the exit of its Singaporean and Malaysian shareholders, foreign news reports said.
Singapore’s Keppel Logistics, a subsidiary of Keppel Telecommunication and Transportation (KT&T), has entered into an agreement with JKH to sell its 25 percent stake in Trans-ware for Rs.152.36 million.
Malaysia’s Misc Enterprises Holdings will also sell its 25 percent stake for the same consideration.
Trans-ware is a joint venture between Keppel Logistics, MISC and JKH.
Initially formed in 1994 to manage an inland container depot in Sri Lanka, Trans-ware has discontinued its container storage and transport operation in November 2006.