Splash247: Aberdeen buys into Malaysian liner MTT

Published by Splash247

London-listed asset manager Aberdeen Group has taken a 5.075% stake in Malaysian liner operator MTT Shipping and Logistics, becoming one of the company’s largest shareholders.

Aberdeen’s Malaysian investment arm acquired 126.86m shares, worth an estimated RM123.1m ($30m) based on MTT’s closing share price that day.

The stake places Aberdeen alongside executive chairman Ong Kean Lee, who owns 22.39%, and managing director Ooi Lean Hin, who controls 12.82%.

MTT joined Bursa Malaysia’s Main Market in April, raising around RM652m. The carrier provides liner, vessel chartering and container depot services across markets including China, India, Indonesia, Thailand, Singapore and Brunei.

Splash reported last month that MTT had booked two 3,300 teu containerships at Wuhu Shipyard as part of a wider fleet expansion and renewal programme.