Royal Dutch Shell picked Malaysia Hengyuan International Limited (MHIL) as buyer for its 51% stake Shell Refining Company (Federation of Malaya) Bhd (SRC) due to MHIL’s financial, technical, and operational capability.
SRC chairman Datuk Iain Lo said on Tuesday whilst the terms of the sale and purchase agreement was a matter that was agreed to between SOHL and MHIL, the board was informed by SOHL that a robust sale process was carried out in 2015, with a good mix of local and foreign qualified players selected to participate.
“MHIL was selected by SOHL based on their financial, technical, and operational capability – in fact, they already produce Euro IV and V fuels in China.
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SRC chairman Datuk Iain Lo said on Tuesday whilst the terms of the sale and purchase agreement was a matter that was agreed to between SOHL and MHIL, the board was informed by SOHL that a robust sale process was carried out in 2015, with a good mix of local and foreign qualified players selected to participate.
“MHIL was selected by SOHL based on their financial, technical, and operational capability – in fact, they already produce Euro IV and V fuels in China.
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