The corporate exercise follows a group-wide restructuring being undertaken by ALB’s parent Ancom Bhd, where the former’s logistics and warehousing business will be hived off to Nylex (Malaysia) Bhd. Nylex is a 50.25%-held subsidiary of Ancom, which also owns 45.06% of Ancom Logistics.
Ancom Logistics Bhd
(ALB), a company that has always played second fiddle among three listed entities under businessman Datuk Siew Ka Wei, shot to attention this week on the back of a corporate exercise involving S5 Holdings Inc.
On the face of it, S5 may sound like a secret service agency, similar to MI5 of the UK. S5 may not be in the business of international espionage, but it does bear one similar trait -- it is in the business of security.
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