Eneco Energy announced that its wholly-owned subsidiary RichLand Logistics Services has entered into a contract with Asia Pacific Brewery (APB) for the provision of domestic bulk transportation of APB’s popular beverage brands, Heineken and Tiger, in Singapore.
The contract entails daily stock replenishments “fresh from the oven” to APB’s distributors island-wide, including key operating hubs. The contract is for a period of three years with an option of two years extension.
The new contract is not expected to have a material impact on the consolidated net tangible assets per share and earnings per share of the group for the financial year ending Dec 31, 2023. None of the directors or substantial shareholders of the company has any interest, direct or indirect in the aforesaid contract, save for their respective shareholdings in the company and the group.
Gwee Chee Kiang, group CEO of Eneco says: “The successful signing of the contract has allowed us to forge a solid strategic partnership with APB and will enable both companies to utilise their respective resources to create and add value to their existing supply chain services. This will further strengthen our presence in Singapore as a leading logistics solutions provider.
The team had demonstrated dedication, hard work, and commitment in securing the contract. We are grateful for the trust and confidence that APB has in us and are committed to delivering results, maintaining a strong relationship and walking the journey together with APB to satisfy their needs in a timely and efficient manner.”
Shares in Eneco closed at 1.2 cents on Jul 4.
