PETALING JAYA: Hengyuan Refining
Co Bhd (HRC) has agreed to renew its product supply deal with Shell Malaysia for another 10 years from Jan 1, 2027 to Dec 31, 2036.
In a filing with Bursa Malaysia, HRC said it had signed a binding term sheet with Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd.
The company said the agreement will run for an initial five years (2027 to 2031), with the option to extend for another five years (2032 to 2036).
HRC said the term sheet establishes the commercial framework from which a definitive agreement will be negotiated and executed.
“The arrangement is expected to support the continued placement of HRC’s refinery products and the stability of its refinery operations,” it said.HRC is engaged in the refining and manufacturing of petroleum products.
