NST Business
KUALA LUMPUR: Kanger International Bhd (KIB) has been appointed as an authorised representative by Legasi Lestari Sdn Bhd (LLSB) for the export of river sand and other minerals both in Malaysia and internationally.
LLSB is one of 11 companies in Malaysia that holds approved permits (AP) to export river sand and other minerals to Brunei, China, Taiwan, Korea, Vietnam, Hong Kong, India, Japan, and Maldives.
The AP is issued by the Ministry of Energy and Natural Resources and is valid until July 2027.
KIB executive director Joseph Wu Wai Kong said this development represents a significant milestone in the company's plan to potentially forge another revenue stream for the Group, to fuel growth and expansion going forward.
"River sand is a widely used construction material and is in short supply in China and Hong Kong due to the rapid pace of construction and reclamation works there," he said in a statement today.
For a start, KIB will focus on developing new sales channels and customers for the export of sand and other minerals from Malaysia into China and Hong Kong.
"Having operated in China over the past 15 years, we have built up solid business relationships with companies across various sectors, especially in the construction industry.
"Therefore, we are confident of leveraging on the Group's established credibility and reputation in both China and Malaysia to fulfil the demand gap for river sand and other minerals between both countries," he said.
KIB's appointment as an authorised representative for LLSB which commenced on 23 June 2020 represents a first step towards closer collaboration between both parties.
Both companies are working towards signing a more extensive joint venture or collaboration agreement within 3 months from this appointment, which will focus on the financing and development of new mining concessions.
"Moving forward, we see vast opportunities to collaborate further with LLSB in the minerals and mining-related sectors, particularly in regards to the development and financing of new mineral concession areas," Joseph said.
Malaysia is one of the top 10 exporters of sand in the world, according to World's Top Export, an independent educational website designed to inspire researchers around the globe.
Malaysia is also one of the fastest-growing sand exporters, rising 103.9 per cent from 2015.