The board of directors of GETS Global Berthed has announced that its wholly owned subsidiary, Konsortium Bas Ekspres Semenanjung (M.) Sdn Bhd has entered into a memorandum of understanding with Putrajaya Leisures and Services Group Sdn Bhd (PULSE). This is with the intention of entering discussions relating to the proposed acquisition of 239,999 ordinary shares representing a 79.99% stake in Pengangkutan Awam Putrajaya Travel and Tours Sdn Bhd (PAPTT) for RM1.00.
At this point in time, PAPTT are currently owned jointly by Perbadanan Putrajaya and PULSE Group with a total share capital of RM300,000. PAPTT are a public service provide in Putrajaya and currently have over 170 buses. PAPTT provide internal and external city routes, and also offer bus rental and leasing services, whilst simultaneously managing the Putrajaya Sentra Terminal, Putrajaya Park and Ride and carparks across Putrajaya.
The Memorandum of Understand is valid for 3 months from the starting date of the MOU and can be extended upon mutual agreement by both parties.
GETS Global said that MOU will provide the opportunity to venture into city buses, which will complement the group´s existing business activities of express bus services, new bus services and repair & maintenance services.