Monday, February 20, 2012

PSL

PSL: Signed a MOU with JPN Industrial Trading with definitive agreements targeted within 6 mths. Both co will work to establish a JV (80% owned by PSL) to own and lease heavy equipment for coal mining and related businesses in Indonesiawith initial invt of up to $50m in the way of pro-rata equity contributions. The day to day business mgmt will be handled by JPN Industrial.

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