ACN acquires 51 pct stake in Pos ACE
KUCHING: Asia Cargo Network Sdn Bhd ( ACN) and Pos Aviation Sdn Bhd has executed a share sale agreement for ACN’s acquisition of 51 per cent majority stake in Pos Asia Cargo Express Sdn Bhd ( Pos ACE).
ACN’s managing director and owner, Marco Isaak, said this acquisition exercise marks a historical moment for both ACN and Pos Malaysia Bhd ( Pos Malaysia).
“We are humbled to be able to partner the esteemed Pos Malaysia through this acquisition and we believe this partnership will enhance Pos Malaysia’s services to its customers locally and worldwide.”
Marco is also the owner of a cargo airlines in Indonesia with operations in Indonesia, Singapore and the Asean region. With a record of 20 years in the industry, they have extended services to major courier companies like UPS, DHL, Caterpillar Group, JNE, and many others.
With this acquisition, ACN will share its skill and experience to bolster and improve efficiency to Pos Malaysia’s mail/cargo air delivery services to East Malaysia and further expand its capability into the international sectors.
The planned extended flight sectors will include China, Hong Kong, Singapore and Indonesia.
Pos Malaysia group chief executive officer Syed Md Najib said the partnership with ACN allows Pos Malaysia to further enhance its delivery and service standards to its customers, which is vital for the company to become a key player in the global e- commerce industry.
“Through the partnership, we aim to leverage on ACN’s experience and expertise to provide more value to our customers by offering enhanced air cargo connectivity, efficiency and speed. The regional network of ACN will provide synergistic opportunities for Pos Malaysia, as KLIA is being developed as a regional e-fulfilment cargo hub.
“This will also allow Pos Malaysia to focus on meeting customer expectations in our core business consisting postal, courier and retail services.”
ACN also plans to increase Pos ACE’s fleet by acquiring more Boeing 737 Aircraft including the New Generation B737- 800 freighter.
In conjunction with the acquisition, Pos ACE has undergone a change in brand under a new name ‘ World Cargo Airlines Sdn Bhd’.
According to Mr Marco, the new name signals the aspirations of both ACN and POS Malaysia to embark into the air cargo industry globally.