Pasukhas sells Indonesian steam coal to Taiwan firm for RM25m

Xeraya Capital is a venture capital and private equity firm focused exclusively on Life Sciences investments.

KUALA LUMPUR:  Pasukhas Group Bhd has secured a contract for the sale and delivery of one vessel of steam coal valued at US$6.35mil or RM25mil to a Taiwanese company.

The construction company said on Monday its unit Pasukhas Products Sdn Bhd had inked the deal with the Taiwanese counterpart for the sale and delivery of the coal at the anchorage point of South Kalimantan, Indonesia.

Its executive director cum CEO Wan Thean Hoe said he expects more contracts to supply the coal due to its synergy to its existing concessionaire business in Indonesia. 

“We have plans to supply to our own power plants, on top of supplying to external parties. With this business opportunity, we expect that the contract will be able to contribute positively towards creating sustainable earnings for the company,” Wan added.