[ad_1]
KUALA LUMPUR (May 4): Esa Pile Sdn Bhd, wholly owned subsidiary of Ageson Bhd, has accepted a purchase order from Guangzhou Kaishengda Industrial Co Ltd (GKI) for river sand and sea sand for a period of 15 years , a contract valued at the Chinese renminbi 44.8 billion (approximately RM27.5 billion).
In a presentation to Bursa Malaysia today, the company is expected to supply 50 million cubic meters of river sand per year and 100 million cubic meters of sea sand per year to GKI starting in the third quarter of this year.
The group said the contract is expected to further strengthen its international export market and commercial business to make sustainable profits over a long period of time, while creating synergistic business opportunities with GKI.
He added that the purchase order will have no effect on the issued share capital and major shareholder holdings or the group’s guidance for the financial year ending June 30, 2020.
However, it is expected to contribute positively to the company’s future earnings, earnings per share and improve its consolidated net assets.
