Ageson to discontinue sand orders due to high shipping costs

KUALA LUMPUR: Ageson Bhd has decided not to continue with the supplies of sand to several parties due to the high shipping costs.

“The board wishes to inform that the company has not commenced the sand trading business and has decided not to continue with the supplies of sand to the respective parties in relation to the sand offer letters as the company views the supplies of sand are no longer viable due to the high shipping costs caused by Covid-19 pandemic,” Ageson said in a filing with Bursa Malaysia.