This article first appeared in The Edge Financial Daily on December 21, 2017 - December 27, 2017

KUALA LUMPUR: Tasco Bhd has entered into a shareholders’ agreement with Yee Lee Corp Bhd, which is involved in manufacturing and distribution of fast-moving consumer products, to jointly develop a business involving trading, distribution and logistics through YLTC Sdn Bhd.

Tasco intends to subscribe for 999,998 shares in YLTC — the joint-venture company currently wholly-owned by Yee Lee Trading Co Sdn Bhd (YLT), which in turn is wholly-owned by Yee Lee — for RM999,998.

Upon completion of the subscription of shares in YLTC, Tasco will hold 40% and YLT 60% in the joint-venture company, said the logistics firm Tasco in a filing with Bursa Malaysia yesterday.

YLTC, set up on Nov 17, 2017 to carry out a trading, distribution and logistics business, would become an associate company of Tasco.

YLC and Tasco said their partnership in YLTC would give them an opportunity for growth expansion, and access new markets and distribution networks.

Yee Lee’s products include food, bottled water, oral care, household cleaners and industrial items. It also manufactures corrugated cartons and aerosol cans.

 The company has a 32.5% stake in Spritzer Bhd which manufactures and distributes natural mineral water.