TA Corporation subsidiary to distribute Shell products in Myanmar

Appointed for a year with renewal options.

TA Corporation Ltd (TA Corporation) announced that its 51%-owned subsidiary, Que Holdings Pte. Ltd. (Que Holdings), has been appointed by Shell Eastern Petroleum (Pte) Ltd (Shell) as the distributor of its automotive and industrial lubricants products in Myanmar.

Under the terms of the distributorship agreement, Que Holdings will be responsible for the distribution of Shell’s high performance lubricants products for a one-year period, with an option to renew for another two years upon expiry. Business operations under this distributorship agreement are targeted to commence in the second quarter of 2013.

Mr Neo Tiam Boon, the Chief Executive Officer and Executive Director of TA Corporation, said, “We are pleased that an international oil company has placed its trust in us to distribute its high performance lubricant products in Myanmar. We are also delighted that our strategic partnership with Synergy Resources has started off on a strong note.”

“With the local partners’ knowledge and established business networks in Myanmar, together with our experiences in the lubricants business, having been the exclusive distributor of British Petroleum’s lubricating fluids in Singapore since 2007, we believe that the joint venture is well positioned to capture market opportunities in the emerging Myanmar market,” Mr Neo added.