Singaporean firm to takeover Magerwa today

The National Bonded Warehouse, Magerwa, will officially be handed over to Portek International today after the Singaporean firm acquired 66.25 per cent shares in the parastatal, promising to invest US$10m to expand its supply chain in the region.An extra ordinary general assembly will convene to dissolve the old board and management while in the second session; the old board chairman will handover to the incoming one.