Thursday 28 Mar 2024
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SINGAPORE (April 18): Integrated e-trade solutions provider vCargo Cloud (VCC), a portfolio company of DeClout, is acquiring a 60% stake in Indonesian integrated logistics player PT Gatotkaca Trans Systemindo (GTS) for US$0.85 million (S$1.1 million).

As part of the payment terms, VCC will also loan US$545,000 to GTS.

In a Tuesday filing, VCC says that through GTS, which is based in Jakarta and provides a suite of logistics services such as trucking as well as freight and forwarding services, the company intends to accelerate its efforts to automate customs declaration in Indonesia... (Click here to read the full story)

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