Intraco Ltd of Singapore, the international listed government trading company which distributes Lada cars in Singapore through its 51% owned subsidiary Samara Motors Pte Ltd, is to form IntElorg Pte Ltd as a $5.3m capital joint venture with V/O Electronorgtechnika, otherwise known as Elorg, of the Soviet Union; trading of consumer electronics and office automation products will begin before the end of the March 1990 expanding the company’s distribution network, and channelling hard currency from marketing Soviet commodities such as timber, mineral and petrochemical product; last year Intraco sold $10m of equipment to the Soviet market: IntElorg will be made up of 41% Elorg, 31% Intraco, 20% by National Iron and Steel Mills Ltd; Copam Electronics Singapore Pte Ltd and Ramadon Investments Pte Ltd will each have 4%.
