Sin-Kung Logistics makes flat debut on ACE Market

From left: Sin-Kung Logistics independent non-executive director Datuk Mohammad Dalib, Ong, executive director Angeline Ong and independent non-executive director Lee Lean Suan at the listing ceremony.Air cargo transport specialist Sin-Kung Logistics Bhd made its debut today on the ACE Market of Bursa Malaysia at 13 sen, which is its initial public offering price.

“The rapid growth of e-commerce post-pandemic, disruption in ocean shipping and supply diversification are some of the main drivers of air cargo demand in the current market,” Sin-Kung Logistics managing director Alan Ong said at the company’s listing ceremony. “Sin-Kung Logistics strategy in growth-continuation of trucking and container haulage businesses is to purchase 100 commercial vehicles by 2025. This is to expand our capacity for the transportation of more cargoes and containers,” said Ong.

With the enlarged share capital of 1.2 billion shares, Sin-Kung Logistics will have a market capitalisation of RM156 million post-listing.

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