TA Corp

TA Corp: Making entry into Myanmar. Grp announced that its subsidiary, QUE holdings (51% owned) has become the distributor of Shell's automotive and industrial lubricant products in that country, which has been said to offer investors the best growth opportunity in the Asean region. Under the terms of the distributorship agreement, Que will be responsible for distributing Shell's high-performance lubricant products for one yr, with an option to renew for another two yrs. Business operations under this agreement are expected to commence in 2Q13 and is not expected to have any material impact on TA EPS or NTA for FY13. The agreement comes after the grp announced in Jan that it had formed a 51:49 joint venture with Synergy Resources Group to pursue business opportunities in the sale and distribution of lubricants in Myanmar. Synergy Resources is engaged in the sale and distribution of lubricants. The incorporated firm's key management team and major shareholders are Myanmar nationals, "who have extensive experience and business networks in the Myanmar market ranging from gold mining, jade mining, distribution of oil and lubricants and motor vehicles. Grp note that with the local partners' knowledge and established business networks in Myanmar, together with its experience in the lubricants business - having been the exclusive distributor of British Petroleum's lubricating fluids in SG since 2007 believe that the JV is well positioned to capture market opportunities in the emerging Myanmar market.