FAR INTL (02516) plans to acquire a 30% equity stake in a US logistics service provider.

FAR INTL(02516) announced that on January 3, 2025, its indirect wholly-owned subsidiary, Ingrun Holdings Limited, intends to acquire a total of 30% membership interest in Advanced Logistics Solutions LLC from Hi5s and Hard 8 for a consideration of $635,318.4. The target company is a supplier of the group in the United States, operating container freight stations and providing collection, sorting, and warehouse services upon arrival of parcels at US airports. The target company also provides US customs clearance services to the group. The announcement stated that the group is an end-to-end cross-border logistics service provider, headquartered in China, while the target company mainly provides collection, sorting, and warehouse services after parcels arrive at US airports. The directors believe that the acquisition will enhance the group's efficiency, certainty, and cost control capabilities in US customs clearance, sorting, and distribution.