Tokyo-based Mitsui O.S.K. Lines and Singapore-listed Hai Sun Hup
Group Ltd. have merged two Singaporean logistics subsidiaries, Cougar Logistics (S) Pte
Ltd. and Cougar Express (S) Pte Ltd.
The newly-merged entity was named Cougar Express Logistics Pte Ltd. MOL
and Hai Sun Hup were stockholders in both companies before the merger.
Cougar Logistics had annual revenues of S$13 million (US$8 million) and
was providing warehousing, inland transport and freight forwarding. Cougar Express
generated annual revenues of S$32 million (US$19 million) from freight forwarding,
courier, household removal, warehousing and inland transport.
The merger will make the company more efficient and competitive, a
spokesman for MOL said.
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