KUALA LUMPUR: Bintai Kinden Corp Bhd's subsidiary Bintai Energy Sdn Bhd has been appointed the exclusive distributor of pipes and valves supplied by Gerab Group in Malaysia and Brunei.

       In a statement, it said Bintai Energy has entered into a distribution agreement with Gerab National Enterprises LLC for a one-year period.

       Under the terms of the agreement, Gerab would support Bintai Kinden's distributorship by providing marketing, promotional and other information related to the products.

       Executive director of Bintai Kinden Azri Azerai said the agreement will enable Bintai Energy and Gerab to render their full cooperation within their framework of their domestic laws, rules, regulations and policies to market and sell the products to meet the mutually agreed upon sales goals for the future revenue growth of Bintai Group.

       “Having considered all the relevant aspects including the rationale and effects of the Agreement, the Board of Directors of Bintai is of the opinion that the Agreement is in the best interests of Bintai Group as it venture into oil and gas business,” he added.

       The agreement is not expected to have any material effect on the issued and paid-up share capital of Bintai Kinden but is expected to contribute positively towards the future earnings of the Group.