India, June 4 -- New Century Logistics (BVI) Limited (NCEW), a Hong Kong-based freight forwarding service provider, said on Wednesday that it has inked a letter of intent with Chiu Nga Ting, the sole shareholder of Asiatic Logistics Limited, to acquire 51% of Asiatic.
The Hong Kong-based Asiatic Logistics is focused on the air freight markets of Japan and Southeast Asia.
The Chairman of the New Century, said: "Asiatic is a 'hidden champion' in the East Asian logistics markets, with deep roots in Japan and Southeast Asia. This acquisition is a perfect fit with our global network, extending our business reach and upgrading our strategic ecosystem. We will use Asia as our bridgehead to drive global logistics services toward greater efficienc...