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Malaysia: Bunkering firms extend HOA arrangement

18 May 2018

Malaysia-listed bunkering firm Straits Inter Logistics (Straits) has extended its the Heads of Agreement with Hong Kong-based bunker trading firm Banle Energy International Limited for a further nine months ending 17 February 2019.

Banle is engaged in the trading of bunker oil and provision of marketing administrative service, which is similar to Straits’s business activities of oil bunkering and trading.

Both firms signed the formal agreement on 18 January to explore potential business cooperation and collaboration opportunities.

Straits is a 100% owner of bunkering-affiliated firms TMD Straits and TMD Sturgeon; a 51% owner of Selatan Bunker (M) Sdn. Bhd; and 49% owner of Fajar Maritime and Logistics Sdn. Bhd.

Group Managing Director Dato’ Sri Ho Kam Choy earlier said Straits is currently still in the process of finalising the terms of the proposed collaboration, which is expected to positively enhance the Group’s business.

Related: Straits Inter Logistics: Positive outlook for Malaysia bunkering sector
Related: Malaysia-listed bunkering firm Straits Inter Logistics net profit up 27 times
Related: Straits Inter Logistics and Banle Energy explore bunker business opportunities

Photo credit: Straits Inter Logistics
Published: 18 May, 2018

 

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