Press Metal Aluminium Holdings Bhd (Press Metal) has received an export order of aluminium ingots priced at RM110 million from Hong Kong's Daching Enterprises Ltd (Daching). The company has forged a five-year contract ensuring a similar export deal worth RM670 million with the latter.
In a press release addressed to the audience, the Malaysia External Trade Development Corporation (MATRADE) explained how the contract was signed during a meeting held on April 4. The Minister of International Trade and Industry (MITI), Tengku Datuk Seri Zafrul Tengku Abdul Aziz, hosted the meeting and emphasised the Trade and Investment Mission he led.
The director of Daching and chairman of Xiamen Xiashun Aluminium Foil Co Ltd, Simon Chan, illustrated how the group wishes to continue its product sourcing from Malaysia due to the country's commitment to profound service, quality, sustainability and outright professionalism.
"We hope to continue to grow our partnership with Press Metal and source more low-carbon ingots in the future," he exclaimed.
The Daching group is among the globe's biggest producers of high-quality thin gauge aluminium foil, with a manufacturing capability of 120,000 tonnes each year. The company also is a market leader in the production of aluminium sheet products with an in-built capacity of 220,000 tonnes.
Aluminium items from Daching are demanded by industrial enthusiasts internationally and are vastly used in the food, beverage or pharmaceutical packaging sectors. Also, aluminium products from the company come in handy in making cathode foils required in electric vehicle batteries.
The chief executive officer of Press Metal, Datuk Koon Poh Keong, showered intense gratitude on MATRADE for introducing the company to such a grand client like Daching.
"We hope that there will be more business matching sessions, especially since China's international borders have fully reopened," he concluded.
Hong Kong has been a quintessential trading partner for Malaysia for the past decade, with annual trade bypassing the RM100 billion milestone for the first time in 2022, reaching almost RM113.20 billion. From the generated value, RM95.60 billion was solely from exports and RM17.60 billion from imported goods.
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