MMAG acquires Boeing aircraft for RM110mil
In a filing with Bursa Malaysia, MMAG said the acquisition will allow the group to have greater flexibility in its fleet management whereby, upon obtaining full ownership, it may lease the aircraft to other entities within the group as needed.
'Further, the group may also lease the aircraft to other third-party operators, thereby enhancing its asset utilisation and generating an extra stream of income.'
It added that the acquisition will strengthen the group's position to respond to market opportunities swiftly.
MMAG is principally involved in the mobile and fulfilment business, courier and logistics business, including air cargo logistics services, and air freight business.
On April 9, the group obtained shareholders' approval to diversify its existing business operations to include the financial services business and aviation business.
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