There are rumors in the market of a possible merger and acquisition of Nationwide Express Holdings Berhad (KLSE:NATWIDE) and Century Logistics Holdings Berhad (KLSE:CENTURY). When contacted, however, management from both companies denied the rumour. Century Logistics Executive Director Edwin Yeap told theedgemarkets.com that the group is on the lookout for acquisition but the candidate is not Nationwide.

"[This is] market rumour, [we are] not in negotiation with Nationwide, [but] working on [it] with other companies [instead]," Yeap said in mobile text message. Meanwhile, Nationwide Chief Operating Officer Indraa Izwaan Mohd Yusof also said the group is not in a position to sell. "Not [in talks for merger] at all, we spoke about some collaborations in the past, nothing about acquisition.

We are never in a position to sell; we much prefer to be the acquirer when the right opportunity comes," Indraa Izwaan said.