Some information on agreements signed or at final stages of finalisation:
26.12.2007-Signed final agreement with Ecoheights sdn bhd for supply of 301,000 m/tons diesel d2 petronas specs. The total cost of the agreement is USD177,590,000 per annum.
04.01.2008- Signed final agreement with Cormorant Enterprise Ltd. Thailand for supply of 120,000 /tons of diesel d2 petronas specs. The total cost of the agreement is USD76,640,000 per annum.
29.12.2007- Negotiations started with Sum Ngee Sdn Bhd., to supply Urea Russian specs. The contract is for 300.000 m/tons per annum at USD 285 per m/ton.
20.01.2008- Negotiations with Selat Damansara Sdn Bhd., to supply urea Russian specs. The contract is to supply 300,000 m/tons per annum to Thailand/Cambodia.
The directors feel that due to AFTA, most of the Asean governments are trying to cash in on the agricultural produce within the region. As such, the demand for agricultural grade urea would be on a upward trend in the short term. The quality of the urea fro Russia is consistent in quality and reasonably priced for the agricultural needs.
On top of this the company is in early negotiation with the main contractor of the Penang Second Bridge contractor to supply 100 lorries to carry sand over two years. This negotiation is in final stages and expected to be inked before Chinese new year.
The company is also looking for a Barge to transport shingles from Indonesia to India and bring some other construction materials from India to Indonesia over two years subject to extension after review of the costs involved.
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