Stake sale: Royal Dutch Shell is selling its Shell Refining Company stake for RM276mil to MHIL.
PETALING JAYA: Royal Dutch Shell, the global oil giant, is selling its entire 51% stake in a refinery in Port Dickson to a Chinese company in a transaction that values the asset significantly lower than its market price.
In a statement, Shell said it was disposing of its majority stake in Shell Refining Company (Federation of Malaya) Bhd or SRC to Malaysia Hengyuan International Ltd (MHIL) for US$66.3mil (RM276mil).
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
