Ikhlas invests US$18mil in logistics firm GMI

TheStar Fri, May 15, 2020 08:30am - 3 years View Original


Ikhlas Capital Singapore Pte Ltd is a private equity (PE) firm co-founded by former banking head honcho Datuk Seri Nazir Razak (pic).

PETALING JAYA: Ikhlas Capital Singapore Pte Ltd, a private equity (PE) firm co-founded by former banking head honcho Datuk Seri Nazir Razak, has invested US$18mil (RM78.12mil) in Philippine-based cold-chain logistics service provider Glacier Megafridge Inc (GMI).

“We are excited to be a part of GMI’s growth story, as we believe the company has a strong competitive edge with its state-of-the-art facilities and highly experienced management team, ” said Nazir, who is also Ikhlas chairman.

“While the Covid-19 crisis has inevitably resulted in some disruptions to global supply chains, we are confident that GMI, as a quality service provider, is well-positioned to grow market share and will prove resilient in weathering this crisis, ” he added.

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