Document:

EXHIBIT 10.1
                                                                    ------------

                                LETTER OF INTENT
                                ----------------

Date:    31 August 2001

To:      JLM International Inc.
         8675 Hidden River Parkway
         Tampa, FL  33637
         U.S.A.
         (the "Vendor")

Dear Sirs:

We, CHAN KWOK WENG (Singapore NRIC no. S1158405E), KWONG HWAI MING (Singapore
NRIC no. S2506588C) and RUSLI GUNAWAN (Indonesian Passport no. K656212)
(hereinafter called the "Purchasers", which expression shall, unless the context
otherwise requires, include any one of them), propose to purchase all the
Vendor's 440,000 fully-paid up ordinary shares of S$1.00 each (the "Shares") in
JLM CHEMICALS ASIA PTE LTD (the "Company") for the sum of US$1,700,000 (the
"Price") on the following terms and conditions:

         1.       SHARE SALE AGREEMENT

         1.1      As soon as practicable but in any case no later than seven
                  days after the date of this Letter of Intent (or such later
                  date as the parties may agree upon), the Purchasers and the
                  Vendor shall enter into a formal agreement for the sale and
                  purchase of the Shares (the "Share Sale Agreement").

         1.2      As soon as practicable after it has received from the
                  Purchasers the instrument or instruments of transfer of the
                  Shares to the Purchasers in such proportions as the Purchasers
                  may stipulate (the "Transfers", which shall be prepared by and
                  at the cost of the Purchasers), the Vendor shall deliver the
                  duly signed Transfers and the share certificate(s) relating to
                  the Shares to their solicitors, M/s Wong Thomas & Leong, who
                  shall hold them in escrow pending completion of the Share Sale
                  Agreement.

         1.3      Within three business days after the Purchasers or their
                  solicitors have received notice that the Transfers and the
                  share certificate(s) have been delivered to and are being held
                  by the Vendor's solicitors in accordance with paragraph 1.2
                  above, the Purchasers shall pay the Price to the Purchasers'
                  solicitors, M/s Wee Tay & Lim, who shall hold it as
                  stakeholders pending completion of the Share Sale Agreement.
                  The Purchasers' solicitors shall immediately after they have
                  received payment of the Price in accordance with this
                  paragraph 1.3, notify the Vendor's solicitors that the Price
                  has been paid to and is being held by them in accordance with
                  this paragraph 1.3.

         1.4      The Share Sale Agreement shall contain the terms and
                  conditions set out in this Letter of Intent and such other
                  terms and conditions (not being inconsistent with the terms
                  and conditions set out herein) as may be agreed upon between
                  the Vendor and the Purchasers acting in good faith.

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         3.       COMPLETION OF SHARE SALE AGREEMENT

         3.1      The Share Sale Agreement shall be completed at the offices of
                  the Company on or before 1 October 2001 but if either party is
                  not ready to complete by that date and has advised the other
                  party of that fact in writing at least seven days before that
                  day, then completion shall take place on or before 31 October
                  2001.

         3.2      On completion:

                  3.2:1    the Purchasers shall deliver or cause to be delivered
                           to the Vendor:

                                    (a)      in respect of each Third Party
                                             Liability (as defined in paragraph
                                             3.3 hereof), a duly signed or
                                             executed discharge in form and
                                             substance previously approved by
                                             the Vendor (whose approval shall
                                             not be unreasonably withheld) or
                                             other satisfactory evidence of
                                             discharge;

                                    (b)      satisfactory evidence that the name
                                             of the Company has been changed so
                                             that the initials "JLM" no longer
                                             form part of the name of the
                                             Company;

                                    (c)      a personal guarantee (in form and
                                             substance acceptable to the
                                             respective parties to whom it is
                                             intended to secure) duly executed
                                             by RUSLI GUNAWAN for securing the
                                             due payment of the Inter-company
                                             Debts (as defined in paragraph 4.4
                                             hereof);

                  3.2:2    the Vendor shall deliver or cause to be delivered to
                           the Purchaser:

                                    (a)      the resignations of SEAN DAMON
                                             MACDONALD and JOHN LYNAM MACDONALD
                                             from their offices as directors of
                                             the Company, with a written
                                             acknowledgement from them, executed
                                             as a deed, that they have no claim
                                             against the Company on any grounds
                                             whatsoever;

                                    (b)      such form or forms signed by SEAN
                                             DAMON MACDONALD and JOHN LYNAM
                                             MACDONALD as may be necessary to
                                             amend the mandates given by the
                                             Company to its bankers;

                  3.2:3    the Vendor and the Purchasers shall procure that a
                           meeting of the board of directors of the Company is
                           held at which:

                           (a)      the Transfers are approved for registration
                                    (subject to stamping);

                           (b)      the resignations referred to in paragraph
                                    3.2:2(a) are approved and accepted;

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                           (c)      such person(s) as the Purchasers may
                                    nominate shall be appointed directors of the
                                    Company;

                  3.2:4    the Vendor and the Purchasers shall authorise or be
                           deemed to authorise:

                           (a)      the release of the Transfers and the share
                                    certificate(s) relating to the Shares by M/s
                                    Wong Thomas & Leong to the Purchasers; and

                           (b)      the payment of the Price by M/s Wee Tay &
                                    Lim as stakeholder to the Vendor.

         3.3      The expression "Third Party Liability" in paragraph 3.2:1(a)
                  hereof shall mean any guarantee, indemnity, standby letter of
                  credit, undertaking or other obligation or liability (actual
                  or contingent) given or incurred (whether solely or jointly
                  with any other person) by SEAN DAMON MACDONALD, JOHN LYNAM
                  MACDONALD, JLM Industries Inc., JLM International Inc. and/or
                  any other corporation related to or associated with the Vendor
                  or any of them, to any person at the request of the Company as
                  security for any debt or other liability owed by the Company
                  to that person.

         4.       PURCHASERS' UNDERTAKINGS

                  The Purchasers undertake to the Vendor:

                  4.1      to proceed diligently to procure the Company to pass
                           the necessary resolution and take all necessary steps
                           to change its name in the manner contemplated in
                           paragraph 3.2:1(b) hereof provided that the Vendor
                           shall acquiesce in such change of name and give all
                           necessary assistance in that regard;

                  4.2      that following the completion of the sale and
                           purchase of the Shares, save in respect of stock
                           existing as at the date hereof, they will not and
                           will procure that the Company will not in any way and
                           for any purpose use the name "JLM" or any trade or
                           service mark or logo of or relating to JLM Industries
                           Inc.;

                  4.3      that pending the completion of the sale and purchase
                           of the Shares and the discharge of the Third Party
                           Liabilities, they will procure that the Company will
                           incur any further or other liability or do any other
                           thing which may increase the maximum liability of
                           SEAN MACDONALD, JOHN LYNAM MACDONALD, JLM Industries
                           Inc., JLM International Inc. and/or any other
                           corporation related to or associated with the Vendor
                           or any of them, under or in connection with the Third
                           Party Liabilities; without prejudice to the
                           generality of the foregoing, the Purchasers shall
                           ensure that the Company shall not increase the limit
                           of the credit facilities which the Company currently
                           has with ABN-Amro Bank;

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                  4.4      that they will procure the Company to pay the
                           Inter-company Debts within 90 days from the date of
                           completion of the sale and purchase of the Shares
                           (the "Closing Date"); and for the purposes of this
                           paragraph 4.4, "Inter-company Debts" shall mean the
                           aggregate as at the Closing Date of:

                           (a)      US$974,939.35 owing by the Company to JLM
                                    International, JLM Marketing, JLM Industries
                                    and JLM Europe as at 27 August 2001, less
                                    any payments made by the Company in
                                    repayment thereof or any part thereof before
                                    the Closing Date;

                           (b)      any additional amount(s) which the Vendor
                                    and the Purchasers acting in good faith
                                    agree are due from the Company to any of the
                                    aforementioned corporations in respect of
                                    the period from 27 August 2001 to the
                                    Closing Date; and

                           (c)      the sum of US$174,552.31 shown in the
                                    Appendix hereto or any part thereof, if it
                                    or any part of it becomes payable by Tolson
                                    Transport and is paid.

5.       VENDOR'S WARRANTIES AS TO TITLE

         The Vendor represents and warrants to the Purchasers that it is the
         sole and beneficial owner of all the Shares and that title to the
         Shares shall be free from encumbrances on completion.

6.       EFFECT OF LETTER OF INTENT

         This Letter of Intent is intended to create irrevocable and legally
         binding obligations as between the Vendor and the Purchasers upon its
         execution by both parties.

7.       ANNOUNCEMENTS

         The Vendor and the Purchasers agree that neither of them will issue any
         press release or make any announcement whatsoever about or concerning
         the transactions contemplated in this Letter of Intent without the
         prior written agreement of the other party (whose agreement shall not
         be unreasonably withheld) as to the form, content and timing of the
         press release or announcement

8.       COUNTERPARTS

         This Letter of Intent may be executed in any number of counterparts and
         by the parties hereto on separate counterparts, each of which when
         executed and delivered shall constitute an original, but all the
         counterparts shall together constitute but one and the same instrument.

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9.       GOVERNING LAW

         This Letter of Intent shall be governed by and construed in accordance
         with the laws of the Republic of Singapore.

SIGNATURE OF THE PURCHASERS        /s/ CHAN KWOK WENG
                                   ---------------------------
                                   CHAN KWOK WENG

                                   /s/ KONG HWAI MING
                                   --------------------------
                                   KONG HWAI MING

                                   /s/ RUSLI GUNAWAN
                                   --------------------------
                                   RUSLI GUNAWAN

SIGNATURE OF THE VENDOR            JLM INTERNATIONAL INC.
                                   by:

                                   /s/ JOHN LYNAM MACDONALD
                                   --------------------------
                                   JOHN LYNAM MACDONALD

                                   /s/ MICHAEL MOLINA
                                   --------------------------
                                   MICHAEL MOLINA<Page>

                                                                    EXHIBIT 10.2
                                                                    ------------

THIS SHARE SALE AGREEMENT is made on 19 September 2001

BETWEEN

(1)      JLM INTERNATIONAL INC., a company incorporated in the State of
         Delaware, United States of America and whose registered office is at
         8675 Hidden River Parkway Tampa, FL 33637, the United States of
         America (the "Vendor"); and

(2)      CHAN KWOK WENG (Singapore NRIC no. S1158405E), of 22 Jalan Kebaya,
         Singapore 278313, KONG HWAI MING (Singapore NRIC no. S2506588C), of Blk
         35, Toa Payoh, Lorong 5, #10-333, Singapore 310035 and UNIBROS
         INVESTMENT PTE LTD (company registration no. 199605803R), of 101 Cecil
         Street #19-10/11, Tong Eng Building, Singapore 069533 (hereinafter
         called the "Purchasers", which expression shall, unless the context
         otherwise requires, include any one of them).

WHEREBY IT IS AGREED as follows:

1.       INTERPRETATION

1.1      This Agreement is supplemental to the Letter of Intent dated 31 August
         2001 signed by the Vendor and the said CHAN KWOK WENG, KONG HWAI MING
         and RUSLI GUNAWAN (the "LOI") and all the terms and conditions
         contained in the LOI shall, with necessary modifications, be deemed to
         be incorporated herein.

1.2      In this Agreement, unless the context otherwise requires:

         1.2.1    words and expressions which have been defined or construed in
                  the LOI shall have the same meanings when used herein;

         1.2.2    "Completion" means the completion of the sale and purchase of
                  the Shares in accordance with paragraph 3 of the LOI;

         1.2.3    "Obligor" shall mean, in relation to a Third Party Liability,
                  SEAN DAMON MACDONALD, JOHN LYNAM MACDONALD, JLM Industries
                  Inc., the Vendor or any other corporation related to or
                  associated with the Vendor; and "Obligors" shall be construed
                  accordingly;

         1.2.4    words importing the singular number shall include the plural
                  and vice versa;

         1.2.5    words importing any particular gender shall include all other
                  genders;

         1.2.6    references to persons shall include bodies of persons whether
                  corporate or incorporate; and

         1.2.7    references to any Clause or Schedule shall mean a clause of or
                  schedule to this Agreement.

<Page>

1.3      In its application to this Agreement, the LOI shall be construed so
         that all references in whatever terms therein to the "Purchasers as
         defined herein, namely, the said CHAN KWOK WENG, KONG HWAI MING and
         UNIBROS INVESTMENT PTE LTD or any one of them.

1.4      Except as otherwise stipulated in Clause 1.3, in event of any conflict
         or inconsistency between the provisions of the LOI and the other
         provisions of this Agreement, the provisions of the LOI shall prevail.

1.5      The obligations of the Purchasers under the LOI and this Agreement
         shall be joint and several.

1.6      Clause headings in this Agreement are for each of reference only and
         shall not in any way affect the construction or interpretation of any
         of its provisions.

         2.       AGREEMENT FOR SALE OF SHARES

                  In pursuance of the agreement set out in the LOI, the Vendor
                  shall sell and the Purchasers shall purchase free from
                  encumbrances on Completion all the Shares together with all
                  rights attaching to them subject to and upon the terms and
                  conditions set out in the LOI and this Agreement.

         3.       COMPLETION ITEMS

         3.1      The personal guarantee referred to in paragraph 3.2:1(c) of
                  the LOI shall be in the form or substantially the form set out
                  in Schedule 1.

         3.2      The resignations and written acknowledgements referred to in
                  paragraph 3.2:2(a) of the LOI shall be in the form or
                  substantially the form set out in Schedule 2.

         4.       INDEMNITY

                  The Purchasers hereby undertake to the Vendor (both for itself
                  and as agent for and on behalf of the other Obligors) that if
                  any Third Party Liability shall not be discharged on
                  Completion, or if any such discharge is set aside under any
                  applicable law or proves for any reason to have been invalid,
                  the Purchasers shall on demand indemnify the respective
                  Obligor or the Vendor from and against any loss damage or
                  liability which that Obligor or the Vendor may suffer or incur
                  under or in connection with that Third Party Liability.

         5.       ACCESS TO RECORDS

                  Notwithstanding Completion, the Purchasers shall procure that
                  the Company give to the Vendor and/or its representatives
                  reasonable access to all the accounting books and records of
                  the Company at all reasonable times and on reasonable advance
                  notice if the Vendor requires the same in connection with any
                  enquiry, notice or direction of any governmental or other
                  relevant authority. The

<Page>

                  Purchasers shall procure that the Company maintains the
                  accounting books and records in the manner and for the period
                  stipulated by section 67 of the Income Tax Act (Cap. 134).

         6.       TAXES

                  The Price and all other amounts payable by the Purchasers
                  under or in connection with the LOI and this Agreement are
                  exclusive of goods and services tax; and any such tax, if
                  payable, shall be borne by the Purchasers and paid on demand.

         7.       COMMUNICATIONS

         7.1      All notices, requests, demands or other communications under
                  or in connection with this Agreement shall be given or made in
                  writing and sent by registered mail or transmitted by
                  facsimile as specified below:

                  7.1.1    to the Vendor        JLM INTERNATIONAL INC.
                                                8675 Hidden River Parkway
                                                Tampa, FL  33637
                                                United States of America

                                                Fax no.: (813) 632 3315

                  7.1.2    to the Purchasers    MR. CHAN KWOK WENG
                                                MR. KONG HWAI MING
                                                M/S UNIBROS INVESTMENT PTE LTD
                                                c/o 230 Orchard Road #10-234
                                                Faber House
                                                Singapore 238854

                                                Fax no.: (65) 235 6342

         7.2      Any notice, request, demand or other communication shall be
                  deemed to have been received by the addressee, if sent by
                  prepaid registered mail, two business days after posting; and
                  if despatched by hand or transmitted by facsimile, at the time
                  of the despatch or transmission provided that if the time of
                  despatch or transmission does not occur on a business day,
                  then such notice, request, demand or other communication shall
                  only be deemed to have been received on the immediate
                  succeeding business day. For the purposes of this Clause 7.2,
                  a "business day" shall mean any day other than a Saturday,
                  Sunday or public holiday in Singapore or the United States of
                  America.

         8.       COSTS

                  All expenses incurred by or on behalf of the parties,
                  including all fees or agents, solicitors, accountants and
                  other persons employed by either of the parties in connection
                  with the negotiation, preparation and execution of this
                  Agreement

<Page>

                  shall be borne solely by the party which incurred them. The
                  Purchasers shall bear all stamp duties payable in respect of
                  the Transfers.

         9.       ENTIRE AGREEMENT AND SCHEDULES

                  The LOI, this Agreement and the Schedules constitute the
                  entire agreement and understanding between the parties with
                  respect to all matters to which they relate and supersede any
                  prior or other agreement or understanding made or purported to
                  have been made between the parties hereto with respect to any
                  such matter.

         10.      INVALIDITY

                  If any term or provision in this Agreement shall in whole or
                  in part be held to any extent to be illegal or unenforceable
                  under any enactment or rule of law, that term or provision or
                  part shall to the extent be deemed not to form part of this
                  Agreement and the enforceability of the remainder of this
                  Agreement shall not be affected.

         11.      SURVIVAL OF TERMS

                  Notwithstanding Completion, the provisions of the LOI and this
                  Agreement shall, insofar as they have not been fulfilled or
                  discharged, remain in full force and effect.

         12.      PROPER LAW

         12.1     This Agreement shall be governed by and interpreted and
                  construed in accordance with the laws of Singapore.

         12.2     Each party agrees that any suit, action or proceeding in
                  respect of any dispute or difference whatsoever arising out of
                  or in connection with this Agreement ("Proceedings") may be
                  brought in the Courts of Singapore and irrevocably submits
                  itself to the non-exclusive jurisdiction of those courts. The
                  submission by each party to such jurisdiction shall not (and
                  shall not be construed so as to) limit the right of the other
                  party to commence any Proceedings arising out of this
                  Agreement in whatsoever jurisdiction as the other party shall
                  in its absolute discretion deem fit nor shall the commencement
                  of any such Proceedings in one jurisdiction preclude the other
                  party from beginning any further or other such Proceedings in
                  the same or any other jurisdiction, whether concurrently or
                  not.

         12.3     Each party hereby irrevocably and unconditionally waives any
                  objection which it may now or hereafter have to the choice of
                  Singapore as the possible venue of any Proceedings. Each party
                  also agrees that a final judgement against it in any such
                  Proceedings shall be final and conclusive and may be enforced
                  in any other jurisdiction, and that a certified or otherwise
                  duly authenticated copy of the judgment shall be conclusive
                  evidence of the fact and amount of its indebtedness.

<Page>

          13.     COUNTERPARTS

          This Agreement may be executed in any number of counterparts and by
          the parties hereto on separate counterparts, each of which when
          executed and delivered shall constitute an original, but all the
          counterparts shall together constitute but one and the same
          instrument.

          14.     SIGNING OF LOI BY RUSLI GUNAWAN AS AGENT

          For the avoidance of doubt, the said UNIBROS INVESTMENT PTE LTD hereby
          acknowledges and declares that the LOI was signed by Mr. Rusli Gunawan
          as agent for and on behalf of the said UNIBROS INVESTMENT PTE LTD; and
          the said UNIBROS INVESTMENT PTE LTD hereby agrees and undertakes to
          observe, perform and be bound in every respect by the terms and
          conditions contained in the LOI.

IN WITNESS the parties hereto have executed this Agreement.

SIGNATURE OF THE VENDOR               JLM INTERNATIONAL INC.
                                      by:

                                      /s/ JOHN LYNAM MACDONALD
                                      ------------------------------------
                                      JOHN LYNAM
                                      MACDONALD

WITNESSED BY

                                      ------------------------------------

SIGNATURE OF THE PURCHASER            /s/ CHAN KWOK WENG
                                      ------------------------------------
                                      CHAN KWOK WENG

WITNESSED BY                          /s/ CHENG SEOW PENG
                                      ------------------------------------

SIGNATURE OF THE PURCHASER            /s/ KWONG HWAI MING
                                      ------------------------------------

WITNESSED BY                          /s/ CHENG SEOW PENG
                                      ------------------------------------

SIGNATURE OF THE PURCHASER            UNIBROS INVESTMENT PTE LTD
                                      by:

                                      /s/ RUSLI GUNAWAN
                                      ------------------------------------
                                      RUSLI GUNAWAN

WITNESSED BY                          /s/ CHENG SEOW PENG
                                      ------------------------------------

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