Lotte Chemical Titan (LCT) has expanded its presence in the United States with the debut of a new shale gas project in Louisiana.
The project, by Lotte Chemical USA Corporation, is a 60:40 joint-venture investment project worth US$3.1bil between LCT and Lotte Chemical Corporation South Korea.
LCT said the large-scale petrochemical complex, comprising two manufacturing facilities, is expected to produce one million tonnes of ethylene and 700,000 tonnes of mono ethylene glycol per year.
Seacera has been a served a letter of demand for payment of RM12.85mil by Ambank Islamic Bhd.
Tasco is buying seven parcels of leasehold industrial land measuring a combined 16.3 acres in Port Klang for RM25.83mil.
Tasco said the proposed acquisition provides the group with the opportunity to acquire a sizeable landbank with existing warehousing facilities strategically located in Port Klang, which is the country's busiest container port and can be easily accessed to and from various expressway connections.
It added that the temperature-controlled warehouses on the assets would provide Tasco with the opportunity to scale up its cold chain warehousing operations, which are currently operating at full capacity.
DPI plans to expand its aerosol manufacturing business into China by partnering with Chen Junxiong and Li Feng Ming.
DPI executive chairman and managing director Peter Chai said the collaboration is in line with the ACE Market-listed company's intention of expanding its geographical footprint and industry presence in the aerosol manufacturing business.
Meanwhile, on Friday US markets rallied after President Trump said trade talks with China will continue.
Earlier, European stocks advanced after UK's first quarter GDP.
“Following the rebound in Wall Street, the FBM KLCI could stage its own reversal and bounce off the support of 1,610 points,” JF Apex said.
Did you find this article insightful?