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发表于 30-3-2009 10:05 AM
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Jotech ventures into coal mining in Indonesia
Deal
Goh (right) receiving the signed deal from Amir (left), while being witnessed by Yulianto (2nd left) and Mak at a brief signing ceremony held in a leading hotel in Kuala Lumpur on Monday.
18th March, 2009
KOTA KINABALU: Amidst the current economic downturn, Sabah-based Jotech Holdings Bhd (JHB) made a bold move to venture into the coal mining business, when it acquired 40 per cent shares of Indonesia-based coal mine company, Rockhill Resources Ltd (RRL).
JHB is currently listed on the second board of the Kuala Lumpur Stock Exchange.
The said deal costing JHB USD 2 million was made in Kuala Lumpur on last Friday. Representing JHB in the deal signing ceremony was its Executive Chairman, Datuk T.C. Goh, a prominent Sabah-based businessman and one of its directors, Mark Mak while RRL was represented by its two directors, Yulianto Sumarli and Amir Surjaputra.
In a statement issued here yesterday, Goh said he was convinced that the said investment would bring about a good future for JHB citing RRL’s sound profile of owning the right to mine 1.2 million metric tons of coal in the Province of Kalimantan, Indonesia.
“The fact that the price of coal per metric ton has plunged from USD150 previously to USD50 currently has reflected that there’s a great chance for it to bounce back. Hence, this is indeed a right time to go in. Besides, RRL has also guaranteed us a profit of USD5 million in the next three years. This new venture is also a good start for our diversification move,” he elaborated. |
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