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Straits Inter Logistics sees Labuan ship-to-ship hub as game changer | Hellenic Shipping News Worldwide

Straits Inter Logistics sees Labuan ship-to-ship hub as game changer | Hellenic Shipping News Worldwide
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Quick take: Straits jumps 25% on emergence of new shareholder

’s shares attracted strong trading interest in early trade Tuesday following the emergence of Singapore-listed Avarga Ltd as its substantial shareholder.
The oil trader and bunker operator jumped 25%, or five sen to 25 sen. It is currently the second most actively traded counter on Bursa Malaysia with 137 million shares done.
Straits-WA surged 79.17, or 9.5 sen to 21.5 sen with 149 million shares done.
Avarga’s wholly-owned subsidiary Avarga Investment Pte Ltd acquired 78.1 million shares, representing 10% equity interest, in the Bursa Malaysia-listed company via an off-market transaction at 17.5 sen per share, straits announced.
After the stake acquisition, Avarga has expressed its interest to pursue further strategic collaborations with straits in the long run,” Straits said. ....

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Singapore-listed Avarga takes substantial stake in Straits Inter Logistics

KUALA LUMPUR (March 1): Singapore-listed Avarga Ltd has emerged as a substantial shareholder in oil trader and bunker operator Straits Inter Logistics Bhd (Straits).
Avarga’s wholly-owned subsidiary Avarga Investment Pte Ltd today acquired 78.1 million shares, representing 10% equity interest in the Bursa Malaysia-listed company via an off-market transaction at 17.5 sen per share, Straits announced.
“After the stake acquisition, Avarga has expressed its interest to pursue further strategic collaborations with Straits in the long run,” the company said in a statement today.
Straits group managing director Datuk Seri Ron Ho Kam Choy said the collaboration would strive towards bringing the company to greater heights. ....

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