|By ACN Newswire||
|May 12, 2014 08:24 PM EDT||
Singapore, May 13, 2014 - (ACN Newswire) - Singapore based Morlison International Resources Pte Ltd is pleased to announce that through its Indonesian subsidiary PT Tenaga Resources, has signed an MoU with China Coal Solution Pte Ltd. The two Companies have the intention to enter into a formal written binding agreement for the purposes of jointly sourcing and marketing Indonesian thermal coal, as well as other Indonesian coal related opportunities.
This partnership will bring multiple synergies to the respective companies who can now jointly control every step of the coal mining and trading value chain, from mining all the way to delivery to the end users. Furthermore, the two Companies have come to a co-branding agreement and they with jointly offer thermal coal to third parties under the name TR-CSS, forming a partnership to explore markets in China, India, South East Asia, to begin with. The first cargo of Tenaga Resources GAR4200 coal started loading on 10 May.
Mr. Thariq Mahmud, CEO of Morlison International Resources stated: "We are starting a healthy partnership with an elite company in the coal trading and logistics space. Our relationship will be based on mutual respect and share of a common vision of sustainable growth and higher profit margins, to make our respective companies the best in our field. Morlison is excited about the next steps and will support this effort with all its power".
About China Coal Solution (Singapore) Pte Ltd
China Coal Solution (Singapore) Pte Ltd is a subsidiary of CCS Supply Chain Management Co., Ltd, a leading expert of coal supply chain management service in China. The company provides multi-variety, one-stop and full-process coal supply chain service. CCS has established subsidiary companies or set up offices separately in Indonesia, Singapore and Hong Kong. The company was successfully listed on the Shanghai Stock Exchange (ccs supply chain manageme-a (600180:Shanghai)) and is one of the members in China's A-share. Year over year, CCS Supply Chain Management Co., Ltd. has been able to grow revenues from CNY5.3B to CNY6.5B, grow its bottom line from CNY381.8M to CNY471.2M and increase its Total Assets from CNY 2,025.5 to CNY 6,629.8B, y-o-y 2012-2013.
About Morlison International Resources Pte Ltd
Morlison International Resources Pte Ltd is the parent of PT. Multi Energy Sumber Artha, a well established integrated logistics, mining and trading group which has been operating in Indonesia since 2008. Through its subsidiaries, Morlison is mining and trading approximately 1 Million metric tons of Indonesian thermal coal per year, with a view of expanding to 2 Million metric tons by 2015 through the development of its own assets in East Kalimantan, Indonesia. Morlison has been operating profitably for the past three years with revenues reaching USD24m for the YE2012. For more information: www.morlison.com
Source: Morlison International Resources Pte Ltd
Morlison International Resources Pte Ltd 80 Raffles Place #16-20 UOB Plaza 2 Singapore 048624 Phone: +65 6438 1330 Email: [email protected] PT. Multi Energy Sumber Artha Alamanda Tower, 22nd Floor, Unit C Jl. TB. Simatupang Kav. 23-24 Jakarta Selatan 12430 Phone: +62 21 29661616 Fax: +62 21 29661661
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