 It was the majority owner of New World Cyberbase, for 27.48% stake as of 2004.Immediately before the backdoor listing of New World PCS, a unit of the conglomerate New World Development, New World Development already owned 5.60% shares of ALT, while Hong Kong businessman owned 30.11% as the largest shareholder.In 2004 Asia Logistics Technologies acquired New World PCS Holdings and its subsidiaries such as New World PCS (NWPCS) from New World Telephone Holdings, a wholly owned subsidiary of New World Development, as part of a backdoor listing.