Handal unit in sand mining agreement

PETALING JAYA: Handal Energy Bhd’s 49% owned associate company, Handal Borneo Resources Sdn Bhd, has entered into a 15-year agreement for the extraction and sales of marine sea sand with Tanjung Aru Eco Development Sdn Bhd.

In a filing with Bursa Malaysia, Handal noted Tanjung Aru Eco Development is a subsdiary of Chief Minister of Sabah Inc and had appointed Handal Borneo Resources as the operator in relation to the concession for the Sunken Barrier Shoal, Hayter Shoal and Bunbury Shoal concession areas, offshore Sabah.