Malaysia’s GD Express Carrier (GDEX) has offered its 10 per cent stake to Japan-listed Yamato Group through its proposed private placement exercise. In a filing with the Kuala Lumpur Stock Exchange, GDEX said Yamato has the intention to acquire additional shares in GDEX for up to a total shareholding of 23 per cent in the future from the existing shareholders.

Yamato Group operates six main business segments, namely business-logistics, delivery, e-business, home convenience, financial, autoworks and others. GDEX believes that the business collaboration will enable both parties to capitalise on each other’s strengths, and together expand to become the leading delivery company in Malaysia.

“With prospective benefits from both TPP (Trans Pacific Partnership) and AEC (Asean Economic Community), it is highly expected that a demand for Asean’s intra-regional trade will be exponentially increased,” it added.