Hong Kong?s Sino Prosper mulls entering Indonesia, China LNG business
Saturday, November 13 2004 - 01:36 AM WIB
Hong Kong listed firm Sino Prosper Holdings Limited announced Friday that its wholly owned subsidiary called SPGL is in negotiation with an unnamed independent third party for the entering into the Memorandum of Understanding (MoU) for the proposed cooperation for the liquefied natural gas (LNG) business in Indonesia and to market the gas to mainland China.
The company only said in an announcement to The Stock Exchange of Hong Kong that the independent third party is principally engaged in the exploration and development of LNG in Indonesia and sells the LNG to China. It added that the form of cooperation between the two parties has yet to be concluded.
The company said the terms of the MoU would be finalised within this month.
According to the data obtained from The Stock Exchange of Hong Kong, Sino Prosper is engaged in property development and management in China and investment in coal gas production and power generation in the northern China.(alex)