Embarks on an acquisition of Logistics conglomerate
Petaling Jaya, Jun 19, 2020 (Issuewire.com) - 3Lyon Holdings Berhad (3Lyon), an investment holding company under the leadership of Tan Sri Syed Yusof Bin Tun Syed Nasir is set to explore opportunities in various sectors of the Malaysian economy. The Company believes values have and will continue to emerge for strategic acquisitions and investments.
3Lyon Holdings Berhad announced this morning that it was in advanced talks to acquire a controlling stake in a logistics company incorporated in Malaysia.
In a statement issued this morning, 3Lyon Berhad stated it has entered into an understanding and was in advanced negotiations with the company. 3lyon is also looking to have the acquisition exercise completed within 90 days. Datuk Wira Ranjeet Singh Sidhu explained that the acquisition would bring value to the founders and investors of both the companies. 3Lyon would look to secure funding for the expansion of the logistics business in excess of RM 150 million to acquire new vehicles and advanced warehousing assets. The Company which presently has in excess of 400 vehicles and a group turnover of close to Ringgit Malaysia Ninety million per annum servicing many prime companies in the food and beverage sectors.
Ranjeet further went on to say that the logistics sector has proven to be recession-proof and "Covid-proof". With the expected growth in this sector along with proper funding, strong management and innovation, he is confident for the company to reach a valuation reach close to RM 1.3 billion in a span of 5 years.
CONTACT: Investor Relations Team
CATEGORY: Investment Holding
EMAIL: ir@3lyonholdings.com
WEBSITE: www.3lyonholdings.com
About 3Lyon Group
3Lyon Holding Berhad is an investment holding company that engages in the management of its group companies, which invests in Real Estate, Consumer Financing, Leisure Business and Strategic High Growth sectors. The company was founded by Datuk Wira Ranjeet Singh Sidhu and is headquartered in Kuala Lumpur, Malaysia.
3Lyon's singular purpose is to enrich the lives of its stakeholders and the communities that they operate in. Towards this end, 3Lyon is committed to leveraging their regional experience, with their deep market knowledge and operational expertise to create superior value for their promoters and partners. The foundation of 3lyon's business is built on integrity, transparency and good corporate governance.
Media Contact
3LYON HOLDINGS BERHAD
0379541452
G-02, Menara Amcorp, Amcorp Trade Centre, No.18, Jalan Persiaran Barat, 46050 Petaling Jaya, Selangor, Malaysia
Source :3LYON HOLDINGS BERHAD
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