KUALA LUMPUR (Jan 12): The main index at Bursa Malaysia pared some of its losses after having dropped below the 1,600-point level in the morning session following the reinstatement of the Movement Control Order (MCO) in several states.
The Yang di-Pertuan Agong Al-Sultan Abdullah Ri ayatuddin Al-Mustafa Billah Shah had today also consented to a proclamation of emergency for a period up to Aug 1, 2021, to contain Covid-19.
The benchmark index pared its losses after Prime Minister Tan Sri Muhyiddin Yassin assured Malaysians that the declaration of state of emergency by the Agong earlier today does not entail a military coup and that the civilian government is still in place.
TOTAL logistics solution provider Tasco Bhd was on the lookout for a partner in the last-mile logistics market and found it in GD Express Carrier Bhd (GDEX). Together, they will now look for ways to share resources and jointly bid for projects that will tap the capabilities of both companies, says Tasco deputy group CEO Tan Kim Yong.
He notes that Tasco has no intention at the moment to enter the last-mile logistics market, given the competitive landscape. “We have been clear that we think working with existing [express delivery] players such as GDEX would be the best way,” Tan tells The Edge. The Malaysian Communications and Multimedia Commission recently announced a two-year freeze on the issuance of new courier service licences in an already-crowded market with more than 110 players.