Dialog Group Bhd’s 55%-owned Centralised Terminals Sdn Bhd
and China Aviation Oil (Singapore) Corp Ltd (CAO) have agreed to continue to
explore other suitable collaboration opportunities after the termination of its
plan to build an oil storage terminal. The remaining 45% of Centralised
Terminals is owned by MISC Bhd. Last October, CAO formed a joint venture with
Centralised Terminals to build a 380,000 cu m (2.39 million barrels) storage
tank terminal in southern Johor’s Tanjung Langsat Port.
In a filing to Bursa, Dialog said Centralised Terminals and
CAO have mutually agreed that the shareholders’ agreement (SHA) lapsed on Aug
20 as not all the conditions precedent have been fulfilled within the required
timeframe.
Dialog said the lapse of the SHA had no effect on the share
capital of Dialog and had no material effect on the earnings, net assets and
gearing of Dialog for the financial year ending June 30, 2013 (FY13). - StarBiz
Source: AmeSecurities
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