Signing ceremony

On November 15, Singapore Global Aluminium International Pte Ltd., Media Kreasindo Utama (MKU) and Press Metal Bhd. signed the Share Subscription Agreement and the Shareholders Agreement of Bintan Alumina Indonesia (BAI, an overseas subsidiary of Nanshan Aluminum) at the provincial government of Riau Archipelago, Indonesia. Press Metal Bhd. will increase its investment in BAI and jointly carry out the future alumina project. Wang Shujian, Executive Vice Governor of Shandong Province, Isdianto, Acting Governor of Riau Archipelago, Zhang Bin, Director of Shandong Provincial State-owned Assets Supervision and Administration Commission, Wang Zhong, Executive Deputy Mayor of Yantai, Song Jianbo, Chairman of Nanshan Group, Cheng Rence, Chairman of Nanshan Aluminum, Zhang Guodeng, Chairman of MKU, Guan Baoqiang, Chairman of Press Metal Bhd., etc. attended the signing ceremony.

Photo of guests at the signing ceremony

After the signing ceremony, Executive Vice Governor Wang Shujian visited the Nanshan Industrial Park, Bintan, Indonesia, and highly recognized the achievements of BAI's project. He pointed out that as a representative of outstanding enterprises in Shandong Province, Nanshan should adhere to high quality development to go abroad. In terms of project construction and operation, Nanshan should stick to "high standards and strict requirements". First of all, it should make the advanced technology in China global and promote economic construction in Indonesia.

Wang Shujian paid a visit to Nanshan Industrial Park, Bintan, Indonesia

BAI is jointly funded by Nanshan Aluminum Singapore Co. Pte Ltd. and MKU. At present, it has been carrying out the "1 Million Tons Alumina Project in Nanshan Industrial Park, Bintan, Indonesia" on the Bintan Island, Riau Archipelago, Indonesia. According to this agreement, Press Metal Bhd. will acquire additional shares of BAI by means of investment. Finally, it will hold about 25% of the shares of BAI, which will be used to expand the Phase II 1 Million Tons Alumina Project. Upon completion of the expansion, Nanshan Industrial Park, Bintan, Indonesia will be able to produce 2 million tons of alumina every year.

This investment of Press Metal Bhd. will optimize the ownership structure of BAI, and improve its production capacity and scale. In this way, the alumina project will realize large-scale benefits. At the same time, the stable sales channel of products is expanded, which is of important significance to enhance the competitiveness of the company and improve its profitability. This investment cooperation will further expand the scale of foreign investment in Kalang Batang Special Economic Zone of Riau Archipelago, create more jobs and promote economic development in Riau Archipelago.

About Press Metal Bhd.

Founded in 1986, Press Metal Bhd. is specialized in the production and processing of aluminum products. Listed in Malaysia in 1993, it has the capacity of 760,000 tons of electrolytic aluminum and 200,000 tons of extruded aluminum. The sales volume in 2018 was about MYR 9.1 billion with profits of MYR 770 million and market value of about MYR 17 billion. At present, Press Metal Bhd. has become the largest aluminum enterprise in Southeast Asia, and has also set up large production or sales bases in Britain, North America, Australia, Hong Kong and Mainland China. Its sales network is all over the world.