Miti Blog

Ministry of International Trade and Industry Malaysia Official Blog

Shell to decide on PD refinery by end-June

Posted by admin2 on June 12, 2015 at 6:39 pm
KUALA LUMPUR: Shell Refining Company (Federation of Malaya) Bhd will make a decision on its refinery in Port Dickson by end-June, said Shell Malaysia Ltd (SML) chairman Iain Lo.

Lo is also chairman of Shell Refining Co.

“The decision has not been made yet whether it is a sale or conversion, I believe we will try to make a decision and bring it to shareholders at the AGM at the end of June,” he told reporters at the officiating ceremony of Menara Shell yesterday.

Lo said the board of Shell Refining Co is proactively investigating long-term options including potential sale of the refinery assets and conversion of operations to a storage terminal.

“Shell Refining Co is a business that’s very, very challenging, we’ve had losses the last four years now. So the board has decided that something has to be done about it. Clearly, operating as a refinery, as a going concern, we see it as quite a challenge because the refining environment globally is very challenging. Refining margins are very, very thin and it is very difficult to make profits.

“One of the options is to convert it to a terminal so that we can continue to supply fuel to the Malaysian market. Of course in the same process, we will look to see if there are other people who feel that they can operate the refinery. So these two processes are going on in parallel,” he added.

In terms of exploration, Lo said Shell Malaysia made 10 discoveries in the last 18 months, making it the most successful country in the Shell group for exploration.

“Our gas operations in Sarawak supplies our own gas-to-liquid (GTL) plant where we produce the world’s cleanest high-grade waxes that are exported to more than 50 countries across the globe. Our Sarawak specialty wax range is a key component in adhesives to lipsticks and ink toners,” he said.

Shell Malaysia is the largest foreign oil producer in Malaysia with its Gumusut-Kakap deep water platform producing 150kbpd. It is also working on its second deep-water venture, the Malikai oil field, 100km offshore Sabah.

On its new offices in, Lo said Menara Shell in KL Sentral brings together 10 facilities across the Klang Valley into 17 floors with over 300,000 sq ft for 1,700 staff. The group also has a business services centre in Cyberjaya that houses its IT, human resource, finance, procurement and order processing support units.

On the relocation of its IT division to Bangalore over the next five years, Lo said the move is driven by the big talent pool and lower costs in Bangalore.

“So we need to look for additional work for Cyberjaya because we have the talent, we have the infrastructure and the sort of work we are looking at, when I say value-added, it means not just the transactional type of work…we’re looking for something more value-add for example in the lubricant supply chain, there is now a department in Cyberjaya that does all the coordination of lubricant supply in the country. It’s that kind of work that we are looking to bring more and more from our different downstream and upstream businesses to Cyberjaya,” he said.

Ministry of International Trade & Industry secretary general Datuk Dr Rebecca Sta Maria said the ministry has maintained its investment targets this year despite the challenging economic environment and the government is committed to maintaining a dynamic and progressive business environment to attract more potential investors.

“When an investor decides to locate in a country, it is not just about the oil prices or the value of the ringgit but really the business environment that we have created - how easy is it to do business, what is the bureaucracy like. So if you can put those in place, make it easy to do business and that’s exactly what we are doing, for me it is not an issue.

“In our interaction with companies, we were in Malacca yesterday meeting some of the companies, they are expanding. They are expanding because the environment here is conducive enough for them to want to put more money into this country and I think that’s what really should be the focus going forward,” she said.

 

5 comments for this post

Posted on January 19, 2024 at 6:38 am
 
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Posted on May 21, 2022 at 5:25 pm
 
The largest rebel against Buddhists and Hindu in Malaysia is YIP KUM FOOK and he is a lawyer in Taman Desa Jaya, Kepong, maybe his lawyer is a fake certificate because he is not like someone who studied law. Lawyers must be at least 6 years to study, but we're the same age, but we've never seen him take that class because YIP KUM FOOK is busy with a furniture store business in Kepong area

He ordered the people to burn the Hindu Temple in Taman Daya, Kepong because at that time he was the MCA chairman in Taman Daya and he had power there, the other because he needed a place to set up his furniture shop business

In Buddhism, he was the president of SAMNAK SAMBODHI BUDDHIST TEMPLE in Taman Desa Jaya, Kepong in 1994, before the president of the temple was SHIA KOK SUN, YIP KUM FOOK this joined the committee members then he rejected SHIA KOK SUN, then he took over as president

Happened at the SAMNAK SAMBODHI BUDDHIST TEMPLE, from him taking over the presidential temple, was never peaceful and always a problem because he was a trouble maker, pushing the old committee and various making a mess in the Temple

Instead, he defrauded a Myanmar monk (ven. Nandiya) of about rm20,000.00, called police and gangster to remove the Buddhist monk, a monk is from Penang (Ven. Piya Dhammo), and ordered his group to lock down the temple

YIP KUM FOOK will receive his Karma in what he does, all the GODS have seen and always commented on him and he will suffer forever in this life and the next life… all need to care about YIP KUM FOOK…

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Posted on May 16, 2022 at 8:02 pm
 
This YIP KUM FOOK forced the Buddhist monk out of the temple and locked the Temple gate, then he also called the police to arrest the monk in the temple and he called his thugs to come harass the monk as well

Now many know about YIP KUM FOOK and what he did before, a lot he cheated in Kepong area, he will suffer relentlessly in his life, and the next time he dies, his family generation will carry on his bad karma

YIP KUM FOOK is a lawyer but his character and attitude are not like a lawyer because he can deceive various people and do bad things without embarrassing people, everyone knows you are not a law student, you pay money to get a certificate, if you are a true lawyer you have to understand the law

When we got to know him in Taman Ehsan in 1989, that time we opened the official SAMNAK SAMBODHI and he was the MCA chairman in Taman Daya, Kepong, and also a business as a furniture shop, he was not the founder of SAMNAK SAMBODHI and also he was not a committee member of the SAMNAK SAMBODHI, also he was not a lawyer at that time

Now the life of his drama will be open to the public to know, he will cannot close in what he did before, in one day it will open all .. at that time, he will suffer and vibrate for a lifetime

Next time he must answer the Buddhist devotees because Buddhists will ask the question of where the Temple money is lost, Ms. Lim was appointed president of the SAMNAK SAMBODHI BUDDHIST TEMPLE, Taman Desa Jaya, Kepong, Kuala Lumpur

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