Tag Archives: Federation of Malaya
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... Read More