Tasco-Yee Lee joint-venture company clinches Shell contract

PETALING JAYA: YLTC Sdn Bhd, a joint-venture company of Tasco Bhd and Yee Lee Corp Bhd's subsidiary Yee Lee Trading Co Sdn Bhd today entered into a purchase contract with Shell Malaysia Trading Sdn Bhd, to provide supply chain services to the Shell convenience retail outlets throughout Peninsula Malaysia to permitted buyers.
The contract has an effective date of Oct 1, 2018 and end on Sept 30, 2021 unless terminated earlier.
Shell may, by giving YLTC 30 days' written notice, extend the contract for a further period of two years from Oct 1, 2021 to Sept 30, 2023 in accordance with the terms and conditions of the contract and of which may be revised in accordance with the mutual agreement of both parties.
"The contract forms part of Tasco group's ongoing diversification strategy into the retail and trading logistics segment and is expected to contribute positively to Tasco group's earnings in long term," Tasco said in a stock exchange filing.