Press Metal Secures Export Deal Worth Rm780 Mln

KUALA LUMPUR, April 7 (Bernama) -- Press Metal Aluminium Holdings Bhd (Press Metal) has secured an immediate export sale of aluminium ingots worth RM110 million from Hong Kong’s Daching Enterprises Ltd (Daching), and the companies had also sealed a five-year export deal of the same product for RM670 million.

In a statement today, the Malaysia External Trade Development Corporation (MATRADE) said that the deal was inked during a meeting on April 4, held in conjunction with the Trade and Investment Mission to China led by the Minister of International Trade and Industry (MITI), Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

Simon Chan, director of Daching and chairman of Xiamen Xiashun Aluminium Foil Co Ltd, expressed the group’s interest to continue sourcing products from Malaysia due to their quality, service delivery, sustainability and professionalism.

“We hope to continue to grow our partnership with Press Metal and source more low-carbon ingots in the future,” he said.

The group is one of the world's largest manufacturers of premium thin gauge aluminium foil, with an annual production capacity of 120,000 tonnes of aluminium foil and 220,000 tonnes of aluminium sheet products.

Its products are sold to customers worldwide and are widely used in the packaging of food and beverages as well as pharmaceutical products, and as cathode foil in batteries for electric vehicles.

Meanwhile, Press Metal chief executive officer Datuk Koon Poh Keong said that the company was pleased with the assistance provided by MATRADE in introducing reputable clients like Daching.  

“We hope that there will be more business matching sessions, especially since China’s international borders have fully reopened,” he said. 

Hong Kong remains an important trading partner for Malaysia, with trade surpassing the RM100 billion mark for the first time last year at RM113.20 billion, comprising exports worth RM95.60 billion and imports valued at RM17.60 billion.

-- BERNAMA