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TCI Express Ltd. ( (IN:TCIEXP) ) has shared an update.
TCI Express Limited has announced that its wholly owned subsidiary, TCI Express Pte. Ltd., has completed the acquisition of 100% equity shares of TCI Global (Singapore) Pte. Ltd. from related party TCI Holdings Asia Pacific Pte. Ltd., making the Singapore-based logistics and transport firm a step-down wholly owned subsidiary. The all-cash deal, priced at SGD 18,000, is aimed at accelerating and cost-effectively expanding TCI Express’s presence in the Singapore region, consolidating group operations in a key logistics hub despite TCI Global (Singapore) generating no turnover in the last three financial years, and potentially strengthening the company’s regional network and strategic positioning in Asian logistics corridors.
More about TCI Express Ltd.
TCI Express Limited operates in the logistics and transport industry, offering express cargo, transport, and comprehensive logistics solutions with a focus on distribution services. Through its subsidiaries, the company is expanding its footprint in key international markets such as Singapore, aligning overseas operations with its core transportation and logistics business.
Average Trading Volume: 976
Technical Sentiment Signal: Sell
Current Market Cap: 19.17B INR
See more insights into TCIEXP stock on TipRanks’ Stock Analysis page.