GDEX to buy two MBE firms

PETALING JAYA: GD Express Carrier Bhd (GDEX) proposes to buy the entire stake in MBE Business Corporation Sdn Bhd and MBE Business Holding Sdn Bhd for RM5.5 million.
The group said its wholly owned subsidiary GD Express Sdn Bhd had entered into a conditional share sale agreement for the acquisition, which will be financed by its internally generated funds.
MBE has more than 92 outlets operating in Malaysia. Its outlets are mainly operating in business districts and shopping malls which give great accessibility to business, retail and e-commerce (B2C) customers. MBE is principally engaged in mailbox services, packaging, shipping, photocopying, and printing services.
GDEX believes this proposed acquisition will bode well for the group’s expansion plan to venture into the retail delivery network.