Further to the investment agreement which was entered into by ILHK, a subsidiary of Ilb with Shanghai Puhwa Logistics Co. Ltd (“SPL”) and the existing shareholders of SPL, ILHK had on 18 July 2008 completed the subscription of 35% of the enlarged share capital of SPL for a total cash consideration of RMB9.45 million.

ILB had reduced its shareholdings in Integrated National Logistics Limited, a joint venture company in Dubai, from 57.5% to 50.0%.

Further to the signing of the Reservation Agreement in November 2007, Integrated Shun Hing Logistics (Shanghai) Ltd, a subsidiary which ILB has a 70% effective equity interest, signed a Sale and Purchase Agreement and Lease Agreement with Mapletreelog Integrated (Shanghai) Co. Ltd, for the sale and leaseback of a property held under Land Number 4, #13 Street located at No 80 Fu Te North Road, Waigaoqiao Free Trade Zone, Pudong New District, Shanghai, People’s Republic of China.

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RM 0.61    -0.020
as at 20 Oct 2008
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