27 Oct 2017 GMCI
GMCI to acquire a 6.07 hectares (15 acres) granite hill located in Kampar, Perak.
This granite hill with the land area of 6.07 hectares (15 acres) is located in Mukim Kampar, Daerah Kinta, which is 1.8km to the southeast of Sungai Siput. GMCI is expected to possess a potential reserve of up to 6.5 Million tonnes of granite ready to be another impact player in the mining industry.
This acquisition signing ceremony took place at Weil Hotel, Ipoh and the respond is overwhelming. This event was attended by 200 guests and investors from various countries.
According to Mr. Loh, the Chief Operation Officer of GMCI, a thorough due diligent study on this granite hill acquisition was carried out and with an anticipation of the steady global growth of an average 6% per annum reported on this valuable mineral. He also says that this exercise is relatively important to strengthen the group’s business module as the product can be widely used in many form of applications in different type of industries. He also says that granite products are widely accepted in the international market and 51% of this product is exported to the Asia market itself. Mr. Loh says the operation process starts from mining of the hill, sorting of the rocks and stones from mining, and then lastly to be applied in different industries in different fields. The output from these processes can generate products such as granite stones for siemens mixtures, for road and building construction usages, larger granite slabs for building materials to high end mosaic for home and office decoration are some of its great values.
According to Mr. Calvin Chin, the Chief Executive Officer, this acquisition will bring in a great portfolio for GMCI to continue its growth towards building up a strong foundation on the groups’ business fundamental. The project will provide a steady potential future revenues inflow to the group.
The event ends with the signing ceremony between representative from GMCI and Pembinaan Kaya Hebat on the acquisition of the said granite hill.