SPAD intends to suspend its haulage license, says Freight Management

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KUALA LUMPUR (Sept 11): Freight Management Holdings Bhd’s wholly-owned subsidiary FM Global Logistics (M) Sdn Bhd has received a notice from Suruhanjaya Pengangkutan Awam Darat (SPAD), stating that it intends to suspend FM Global’s haulage license with effect from Sept 24, 2014.

“The Board is trying to contact the relevant officers of SPAD for further information and clarification, while assessing the implications and/or impact of the notice on the Company. Once the information is available, further announcement will be made,” said Freight Management in a filing to Bursa Malaysia.

The company’s share price closed unchanged at RM1.72 today, with a market capitalisation of RM293.8 million.