The Malay Mail Online

money

Petronas, Shell to sell 20 pct stake in Assar to Senari

KUALA LUMPUR, Nov 27 — Petronas Dagangan Bhd (PDB) and Shell Timur Sdn Bhd (STSB) are to divest themselves of their entire equity interest in Assar Chemicals Dua Sdn Bhd.

PDB and STSB will dispose of their respective entire 20 per cent equity interest to Senari Synergy Sdn Bhd for RM6.5 million.

In a filing to Bursa Malaysia today, PDB said it and STSB had concurrently signed a shareholders’ agreement with Senari to establish a joint-venture company named Tanjung Manis Oil Terminal Management Sdn Bhd. — Bernama