PetChem completes divestment of PCFSSB stake

“We are also confident that this collaboration will further spur the development within the Sipitang Oil and Gas Industrial Park," said Mohd Yusri.

PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) and Sabah, through its wholly-owned company SMJ Sdn Bhd (SMJSB), have signed a share purchase agreement (SPA) for the acquisition of 25% equity interest in PETRONAS Chemicals Fertiliser Sabah Sdn Bhd (PCFSSB) for a value of RM1.2bil.

PetChem managing director and chief executive officer, Mohd Yusri Mohamed Yusof, said this opportunity would further strengthen the working relationship between PetChem and the state of Sabah and unlock potential for similar collaborations in the future.