Ageson receives LOI worth RM116mil from HK buyer to purchase sand 


KUALA LUMPUR: Ageson Bhd, formerly known as Prinsiptek Corp Bhd, said a company based in Hong Kong is planning to buy natural sand from its wholly owned unit Esa Pile Sdn Bhd.

Ageson, in a filing with Bursa Malaysia today, said Esa Pile had received a letter of intent from Boyijun Resources (HK) Ltd to to purchase sand for a contract value of US$26.6mil (RM116.8mil).

"Boyijun, via the LOI, stated that Boyijun is ready to purchase natural sand in bulk in freight on board terms," Ageson said in a filing with Bursa Malaysia today.


A trial shipment is expected to start next month.

"The LOI is expected to contribute positively to the Company’s future earnings, earnings per share and enhance the consolidated net asset of the Company," it said.

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Ageson , Boyijun , sand

   

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