SCGJWD Logistics Public Company Limited (SET: SJWD) has announced that the Board of Directors had agreed on 9 January 2024 to approve in principle the acquisition of ordinary shares in Asia Network International Public Company Limited (SET: ANI) and Swift Haulage Berhad (SWIFT).
The investment in approximately 12.50% of the paid-up shares of ANI at a price of THB 7.00 per share through an open market and big lot transaction will add up to an existing 7.62% shareholding that SJWD currently holds in ANI. The total investment is approximately not exceeding THB 1,620 million.
ANI, along with its 28 subsidiaries and joint ventures, operate as the Cargo General Sales and Services Agent or Cargo GSA (GSA) for over 20 airlines in 8 countries and special administrative region around East Asia consisting of Thailand, Singapore, Vietnam, Hong Kong Special Administrative Region, China, Malaysia, Cambodia and Republic of the Union of Myanmar with the coverage more than 400 destination routes across worldwide.
SJWD expects that the acquisition in ANI will give an Opportunity to increase revenue through expanding more integrated solutions to ANI customers and also the opportunity to enhance income through expanding Freight business into SJWD’s overseas businesses such as Malaysia, Cambodia, Vietnam, and China, etc.
Meanwhile, JWD Asia Holding Private Ltd., an indirect subsidiary of SJWD, which the
Company hold its shares at the proportion of 100% of the total number of voting shares, will invests in the acquisition of ordinary shares of SWIFT, Malaysia, with the total amount of 180,000,000 shares, representing 20.44% of the total of paid-up shares with the price of MYR 0.63 per shares, or equivalent to approximately THB 4.72 per shares. The total investment is approximately MYR 113.40 million, or equivalent to THB 850 million.
SWIFT is the leading integrated logistics service provider, which is listed in Bursa Malaysia. SWIFT has been operating for more than 10 years, specializing in inland transport such as container haulage services, land transport services, and cross-border transport. SWIFT also operates a freight forwarder and warehousing business, covering Malaysia, Thailand, and Singapore.
The investment in SWIFT is to strengthen the logistics network in Malaysia to elevate the service level to cover ASEAN countries and expand the customer base to cover more within the region. Moreover, the company will be able to increase sales and gross profits from the synergy in cross border transportation.
