Wang: We are making use of HRC’s profit and cash holdings for capex so that we can improve our competitiveness in the face of changing market dynamics and tough challenges.
PORT DICKSON: With efforts focused on strengthening its financial position and future profitability, Hengyuan Refining
Co Bhd (HRC) will likely maintain its stance of not paying dividend to shareholders for the time being.
The petroleum-products refiner and manufacturer, formerly known as Shell Refining Co (Federation of Malaya) Bhd, is still in a high capital expenditure (capex) mode, as it continues to invest in four ongoing projects – the Euro 4M Mogas, Euro 5 Gasoil, H2GEN and Clean Air Regulation (CAR) Compliance – at its plant in Port Dickson, Negri Sembilan.
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