Zhidao International (Holdings) (HK:1220) has released an update.
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Zhidao International (Holdings) Limited has announced a framework agreement with Asiafame Holdings Limited for a potential investment in Sun Ocean Logistics Pte. Ltd., which is involved in the coal transportation truck rental business in Indonesia. This agreement outlines the steps and responsibilities necessary for the possible acquisition, paving the way for Zhidao to become a substantial shareholder in Sun Ocean Logistics. Investors are advised to remain cautious as the framework agreement is not yet legally binding.
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