Jim Rogers joins Agritrade Resources as advisor

Hong Kong-listed Agritrade Resources, an integrated energy and shipping solutions provider, announced that international investor James Beeland "Jim" Rogers, Jr. has been appointed as advisor to the board of directors at Agritrade Resources commencing April 27, 2017.

The said in a statement Thursday that Jim Rogers will be providing advice and recommendations to the board of directors in various areas from coal mining, logistics, corporate business plans, merger and acquisitions, pricing to market strategies covering the Greater China, ASEAN and South Asia region.

Ng Xinwei, Chief Executive Officer of Agritrade Resources Limited, commented, ?With his astute investment acumen and solid track record in the commodities sector, we are confident that we will be able to leverage on his insights to propel Agritrade Resources to the next phase of growth, attaining new heights and milestones together.?

The company said the appointment of Jim Rogers is very timely as Agritrade Resources made substantial progress in the expansion of its business within a short span of two years. In this notable period, Agritrade Resources expanded its coal and logistics business as well as entered into the renewable energy sector.

On the coal division, Agritrade Resources purchased Merge Mine, Indonesia?s first large-scale, fully-mechanized underground coal mine located in South Kalimantan that produces Newcastle grade coal of around 6,300kcal/kg in its raw form in December 2015. On the logistics front, the group also expanded its fleet to include three Very Large Crude Carriers (VLCCs), each of which have been leased on a long-term basis to global trading house, producing stable and accretive earnings that have boosted the group?s cash flow and balance sheet. In addition, the Group made its first foray into renewable energy in December 2016 with the purchase of a US biodiesel plant in Arkansas that has been retrofitted to accommodate multi-feedstock to produce high-quality, cost-competitive biodiesel.

Editing by Reiner Simanjuntak