MMAG Unit Gets Pioneer Status For ILS

KUALA LUMPUR, March 1 (Bernama) -- MMAG Holdings Bhd wholly-owned unit, Line Clear Express & Logistics Sdn Bhd, has obtained the pioneer status for Integrated Logistics Services (ILS) from the Malaysian Investment Development Authority (MIDA).

In a filing to Bursa Malaysia today, MMAG said, the status enabled its unit to be granted income tax exemption of 70 per cent of the statutory income for a period of five years for its expansion/diversification into integrated operations.

MMAG said Line Clear had also obtained the International Integrated Logistics Services status, allowing the company to apply as Customs Forwarding Agent from the Royal Malaysian Customs to venture on a regional or global scale.

-- BERNAMA

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