AEI inks framework deal to buy LNG on behalf of China's Zhongneng International Gas

Singapore

ALUMINIUM producer AEI Corporation on Monday said it has entered into a framework agreement with Zhongneng International Gas Co (ZNI) to collaborate potentially on business activities involving liquefied natural gas (LNG).

This comes after the company last month flagged that it could be placed on the Singapore Exchange's (SGX) watch-list. In a bourse filing on May 24, AEI noted that it has recorded pre-tax losses for the three most recently completed consecutive financial years, with its six-month average daily market cap as at May 24 standing at S$36.98 million, which is below SGX's requirement of maintaining a market cap of at least S$40 million.