Hong Seng to set up logistics services for KRC NBL project

KUALA LUMPUR: Hong Seng Consolidated Bhd is subleasing a tract of land in Prai Bulk Cargo Terminal, Pulau Pinang, to construct a tank farm and provide integrated logistics services to wholly owned subsidiary Hong Seng Industries Sdn Bhd as well as other nitrile butadiene latex (NBL) manufacturers.

It said in a filing with Bursa Malaysia its wholly owned subsidiary HS Petchem Logistics Sdn Bhd had accepted a letter of offer issued by Penang Port Sdn Bhd to sub-lease 12,140 sqm of industrial land for a period of 20 years, for a rental payment of RM8.53mil.