BPH Global (ASX:BP8) said that its wholly-owned Indonesian unit PT BPH Global Indonesia entered into a binding product sales cooperation agreement with PT. Kebula Raya Bestari to help BPH Global with the supply of seaweed to Indonesian customers, according to a Wednesday Australian bourse filing.
BPH Indonesia appointed Kebula as its non-exclusive agent in Indonesia to provide accounts management and sales logistics services.
Kebula will receive and warehouse the seaweed purchased by BPH Indonesia. It will dry and sort the seaweed and then pack and deliver the dried seaweed, per BPH Global's specifications.
BPH will pay Kebula a commission calculated as an amount equal to 35% of the sales profit or another amount agreed between the parties.
The agreement has an initial term of 12 months commencing on April 15, with the option to extend for an additional 12 months.
Its shares jumped 25% on market close on Wednesday.
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