Toll to buy rest of Singapore’s Sembawang Kimtrans

<p>Toll Holdings had launched a takeover for the 74% of Singapore-listed logistics services firm Sembawang Kimtrans that it is yet to own, the Australian giant revealed today (Thursday, June 14).</p> <p>If successful, the purchase, through Toll Express (ASIA), would cost Toll about $180m and be funded by debt facilities in Singapore.</p> <p>&#8220The offerer and SWKT (Sembawang Kimtrans) have highly complementary businesses in terms of strategy, focus, capability, customers and industry segments, with growth-oriented cultures," the offer document said, Reuters reported.</p> <p>According to Wrights Investors’ Service, Sembawang Kimtrans’s marine and mining logistics segment provides tugging and barging services to mining operators in the Asian region and customers requiring total logistics solutions. </p> <p>It offers consolidation and delivery of mining equipment, consumables and spare, as well as coal and transportation services. </p> <p>The integrated logistics segment offers integrated logistics services, such as freight forwarding, heavy lift and haulage, warehousing, cargo consolidation and distribution.</p> <p>&#8220The acquisition of Sembawang Kimtrans will further enchance Toll’s strategic position within the Asian region, especially within the marine and mining logistics sector and will help drive Toll’s strategy to become the pre-eminent integrated logistics provider in that region,&#8221 Toll managing director Paul Little said.</p> <p>The major shareholders had backed the move, so it would go ahead, Mr Little said of the company that had &#8220strong exposure to the high growth energy and resources market in southeast Asia&#8221.</p> <br />