Luster Industries Bhd's wholly owned subsidiary MEA Environment (Asia Pacific) Pte Ltd has teamed up with two other companies to establish a representative office to market waste management equipment in China.

Luster said on Jan 16 that MEA had entered into a memorandum of understanding with the two companies, Apolloy Huaxia Trading Company Ltd (AHT) and Sincere Lion (Shanghai) Business & Management and Investment Co Ltd (SL) towards that end.

AHT is involved in engineering materials, environment protection and power saving industry, while SL's principal activities are business consultancy and management.

Luster said the representative office would be registered under the name of MEA Beijing, which will have an initial investment of RM134,286 cash by the three parties. MEA will come up with 40% of the cash and the other two 30% each.

The parties will review in April whether to form a joint venture company based on the performance of the representative office in Beijing.

Source