KUB, Hiap Seng eye Petronas Rapid tank project

Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 23 May 2013 17:55
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KUALA LUMPUR (May 23): KUB MALAYSIA BHD [] and
Singapore-based Hiap Seng Engineering Ltd are eyeing Petroliam
Nasional Bhd's (Petronas) refinery and petrochemical integrated
development (Rapid) tank project in Johor.
In a statement to Bursa Malaysia, KUB said the diversified firm has
signed a memorandum of understanding (MOU) with Hiap Seng.
The MOU comes with the intention to "submit a proposal to Petronas on
the parties’ interest to undertake the Petronas Rapid tank project",
according to KUB.
"The parties shall share industry know-how, business networks and
professional expertise in pursuing the project.
"Pursuant to the signing of the MOU, the parties shall enter into a
definitive and binding legal agreement, to be negotiated between the
parties," KUB said.