Sincap signs MoU to acquire Orion Energy
Orion too is a Singapore-incorporated company and is engaged in mineral trading and logistics management, and also supplies coal to power plants run by a state-owned company in China. Orion has direct access to major traders and mine owners in Indonesia and thus is able to secure a stable supply of coal to fulfill the long term needs of the power plants owned by a state-owned enterprise in China, Sincap said in a regulatory filing.
The transaction details have not been disclosed, and it may only be finalised after Sincap completes due diligence on Orion Sincap shares last closed at 6.9 cents.
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