PetDag to sell working inventory

KUALA LUMPUR: Petronas Dagangan Bhd (PetDag) has signed six additional agreements to sell its working inventory and deadstock in the storage tank at selected fuel terminals to Petco Trading Labuan Co Ltd (PTLCL) for RM132.93mil.

PTLCL is an indirect wholly-owned unit of Petroliam Nasional Bhd (Petronas).

In a filing with Bursa Malaysia, it said 14 selected fuel terminals have been identified for new operating model implementation to be executed in phases based on product and operational readiness.