MEGL Signs Five-Year Timber Trading Letter of Intent With Singapore Company
Key Facts
Magic Empire Global Limited, listed under the ticker MEGL, said it signed a letter of intent on October 22, 2026, with Singapore-based SIN HOPEWAY PTE. LTD. to cooperate in timber trading for five years. The agreement sets a framework for commercial cooperation between the two companies, as part of MEGL’s stated push to expand its commodities trading and supply-chain finance activities. The announcement concerns a letter of intent; the company did not report revenue generated from the cooperation in the available text. The company published its announcement via GlobeNewswire on October 27. It said the agreement falls within its commercial expansion, without the announcement establishing that the industrial upgrade discussed by the company was a separate step completed before the letter was signed.
MEGL announced on October 6, 2026, that it was entering commodities trading and supply-chain finance, and said its wholly owned Hong Kong subsidiary, Lunar Haste International Trading Limited, would carry out the activity. The broader plan includes cross-border trading in timber, metals and coal. The company said its initial focus includes hardwood logs, sawn timber, iron ore, thermal coal and metallurgical coke. That places the cooperation letter with SIN HOPEWAY within a broader scope than timber trading alone. The company said it had completed its strategic industrial upgrade.
On trade finance, MEGL said solutions it may offer include pre-export, inventory, warehouse receipt and receivables financing, as well as letters of credit facilities. It added that these services would be provided, when needed, through licensed entities or in cooperation with licensed financial institutions. It also said it has a network of partnerships and supply-chain resources in North America, Europe and Africa. According to the company, the network includes producers, mine operators, timber mills and end buyers. The company presents these relationships as resources supporting its commercial efforts.
In a separate filing with the U.S. Securities and Exchange Commission, the company said it may offer and sell up to $100 million in aggregate value of Class A shares through an at-the-market offering program. It said net proceeds would be used for working capital and general corporate purposes. Its audited annual report also showed customer revenue of HK$11,529,000 in 2025, compared with HK$12,784,230 in 2024. MEGL shares closed at $0.716 on October 26, 2026. The share-sale program disclosure and revenue figures provide financial context for the commercial expansion announcement.