Techventure, PBNU form venture to pursue mining business

Malaysian company Techventure Bhd. Announced on Monday that TVBGM, its 51 percent owned subsidiary had on 9 June 2004 entered into a Strategic Alliance Agreement with Indonesia?s largest religious grouping PB Nahdatul Ulama (PBNU) to work together in pursuing opportunities in the mining sector in Indonesia.

The company in its announcement in Bursa Malaysia said the signing of the SAA is in line with TVB's efforts to focus on its new business direction in the supply of coal and minerals. The alliance between TVBGM and PBNU would facilitate TVB in the exploration, exploitation and development of potential mining interests in Indonesia.(alex)