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

KUALA LUMPUR: Malaysia is still an attractive investment destination amid slumping oil prices and volatility of the ringgit. Ministry of International Trade and Industry (Miti) Secretary-General Datuk Dr Rebecca Sta Maria said foreign investors still viewed Malaysia as an investment destination of choice due to its conducive business environment. She said when an investors decided to locate their business in Malaysia, it was not just about the oil prices or the ringgit value, but also the business environment. It is about how easy it is to do a business here, how is the bureaucracy. If you can put that in place and make it easy (for them) to do business, it (falling oil prices and ringgit value) will not be an issue,” she told reporter after the opening of Shell Malaysia new office, Menara Shell, here yesterday. Commenting on Miti’s briefing on investment in Melaka on Wednesday, she said many foreign investors had shown interest to expand their businesses in Malaysia due to... Read More