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Aqua Logistics’ subsidiary to hive off the acquired Hongkong based companies

30 Mar 2013 Evaluate

Aqua Logistics’ Wholly Owned Hongkong Subsidiary -Aqua Logistics HK- has decided to hive off the acquired Hong Kong based Companies CIT Logistics, TAG Logistics and AGI Logistics as an ongoing concerns forthwith, for which the Company is in discussion with prospective buyers effective April 01, 2012.

The continued weakness in the global economic scenario and enormous pressure developing in the system to support working capital management of these companies has prompted the decision to hive off the acquired Companies in Hong Kong.

AGI Logistics (Hong Kong) is an integrated logistics and freight forwarding service provider and is based in Hong Kong.

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