EMEA News
Singapore Bunker Supplier in New Malta Venture
Attard & Co. Ltd., a Maltese logistics and import company, is working with Singapore-based bunker supplier IAG-Pacific Group (IAG) on a venture involving commodity and petrochemical trading, the Times of Malta reports.
The deal aims to serve government, private oil and gas companies, and firms seeking channels for Euro-Asia oil trades.
"Pending the approval of the Singapore-EU FTA and the Partnership and Cooperation Agreement (PCA), we have gone ahead to establish a presence in the EU via Malta as our preferred gateway in the Mediterranean owing to its geo-political location and proximity to mainland Europe, North Africa and the Middle East," said IAG Chairman and Executive Director Goh Jin Hian.
"Malta has an island-economy much like Singapore and Hong Kong with little natural resources and a dependency on intellect and investment capital.
"I believe that Malta has the potential to punch well above its weight class."
Attard & Co. is also developing a joint venture with another Singapore firm, Six Capital Pte. Ltd. (SixCap), to develop Malta into a Centre of Excellence for foreign exchange training and trading for southern Europe and North Africa and the recruitment of candidates for SixCap's Utility Trading Centres in Asian emerging markets.
IAG-Pacific Group provides marine bunkering, marine transit, and ship chartering and management, and it has recently begun an upstream business division, according to its website.
