The Board wishes to announce that the Company’s 55% owned jointly-controlled entity, Eastern Steel Sdn Bhd (“ESSB”) has on 15 June 2016 entered into a Memorandum of Understanding (“MOU”) with Angang Group Hong Kong Company Limited (“Angang-HK”), a wholly-owned subsidiary of Ansteel Group Corporation, China.
Pursuant to the MOU, both parties have agreed to explore, discuss and negotiate areas of cooperation between ESSB and Angang-HK including the resumption of production at ESSB, future expansion of ESSB’s production capacity and product range, and Angang-HK’s participation in the equity of ESSB.
It was agreed that, for a period of 60 days from 1 July 2016 (“Exclusivity Period”), both parties shall negotiate in good faith with a view to enter into a Formal Agreement within the Exclusivity Period.
Anshan Iron and Steel Group, the second-largest steel maker in China by output,[1] focuses on producing high-end products such as electroplating, color-coated, and silicon flat steel products to make car bodies and computer and telecommunications equipment.[2] It is headquartered in Anshan, Liaoning, one of the most important steel production sites in China.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
HugoMorales
74 posts
Posted by HugoMorales > 2016-06-10 15:13 | Report Abuse
jerung sudah ngap .. go go go jerung