Asia/Pacific News
Malaysia's Straits Inter Logistics Exploring Collaboration Opportunities With Hong Kong Bunker Trader
Malaysian player Straits Inter Logistics Berhad (Straits) has announced the signing of a heads of agreement (HOA) with Hong Kong bunker trader Banle Energy Int Ltd (Banle Energy).
The non-binding agreement intends to explore potential business cooperation and / or collaboration opportunities between the two companies.
Banle Energy was incorporated in 2015 and lists Chia Teck Lim, formerly of Brightoil, among its directors.
Having been previously engaged in activities outside of the maritime and bunker industries and formerly known as Raya International Bhd, Straits rebranded and moved into the bunkering space last year.
Speaking to Ship & Bunker in November, Straits' Director Richard Ho said the company's aim was to be recognised as a top bunker supplier in Malaysia and eventually worldwide.
"The execution of the HOA is to allow Straits and Banle to explore potential business cooperation / collaboration opportunities which include, but are not limited to, joint venture, business partnership and/ or acquisition of equity stake between the Parties to further expand their business operations and geographical coverage," stated Straits.
The HOA is in effect for four months.
