Nippon Yusen ups stake in Malaysia's TASCO to 61 pct

Nippon Yusen, Japan's largest shipping firm by sales value, has raised its stake in Malaysia-based Trans-Asia Shipping Corp Bhd (TASCO) to 61.32 percent from 27.74 percent, the Malaysian firm said on Thursday. Nippon Yusen acquired the additional shares through the acquisition of a 70 percent stake in unlisted Kombinasi Restu (Malaysia) Sdn Bhd, a company controlled by TASCO major shareholder Asmat Kamaludin, said TASCO in a statement, which did not contain any financial details.