Expiry of Management Rights Agreement with FTL Group

Regal Global Logistics Pte. Ltd. (“RGL”), a subsidiary of Regal International Group Ltd. (“RIG” or together with its subsidiaries, the “Group”) refers to the Management Rights Agreement (the “MRA”) entered into with FTL Group Pte. Ltd. (“FTL”) on 20 October 2016.

In accordance to the MRA, RGL will review the operations and management of FTL for a period of six (6) months, prior to RGL acquiring 51% stake in FTL. Nevertheless, the term of the MRA has lapsed and due to unsatisfactory results presented during the period, RGL will not proceed with the initial proposed plan. Accordingly, the MRA has expired and there will not be any extension of the term.

For related news please click on the following links:
* Regal Global Logistics Signs Management Rights Agreement With FTL Group (20 Oct 2016)

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