KUALA LUMPUR, 9 JULY –
Golden Pharos Bhd will sell its downstream timber products overseas in a strategic partnership with Supreme Group, the largest timber company in Selangor.
Golden Pharos said its subsidiary Pesama Timber Corporation Sdn Bhd had signed a Memorandum of Understanding with Supreme Group’s unit Forest Avenue International on the partnership.
Golden Pharos chief executive officer Muhd Zaki Hamzah said the partnership would capitalise on Forest Avenue’s expertise and market knowledge to guide Pesama in expanding its market segments, particularly in “finger-joint’ and “moulding” timber commercialisation.
“With the Supreme Group’s existing market presence in the US and Europe, this collaboration opens doors for Pesama to tap into new opportunities and establish a foothold in this new market.
“By leveraging the company’s experience, Pesama aims to enhance the value of its timber products and cater to the demands of this overseas market,” Muhd Zaki said at the signing ceremony here today.
Pesama chairman Saiful Azmi Suhaili said penetrating the US and Europe market was a significant milestone for the company and highlighted its commitment to exploring further collaboration opportunities to expand its downstream business.
Saiful said Forest Avenue would provide guidance to Pesama regarding product specifications, workforce skills, technology and ongoing collaboration opportunities.
“Pesama is always open to establishing partnerships with any party to ensure the further expansion of its downstream business products, considering that its downstream products are still in the introductory stage compared to industry giants within the country,” he added.