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Gas Malaysia agrees on SAC pipeline contract terms

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Gas Malaysia agrees on SAC pipeline contract terms Empty Gas Malaysia agrees on SAC pipeline contract terms

Post by Cals Sat 15 Mar 2014, 00:51

Gas Malaysia agrees on SAC pipeline contract terms
Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com   
Friday, 14 March 2014 19:00

KUALA LUMPUR (Mar 14): Gas Malaysia Bhd has agreed on the terms of the pipeline construction and operating agreement, entered into with Enigma Harmoni Sdn Bhd (EHSB).

According to the group’s filing with Bursa Malaysia, the agreement covers construction of the SAC pipeline and other necessary works for the supply of natural gas by Gas Malaysia to EHSB.

The total infrastructure cost of the project is estimated at RM4.41 million, with construction of the pipeline to be completed by Nov 30, 2014, or 12 months upon signing of the agreement.

“The board of directors of Gas Malaysia, after careful deliberation, is of the opinion that all terms of the agreement are in the best interest of Gas Malaysia,” said the group.

EHSB is an indirect subsidiary of MMC Corporation Bhd, which in turn owns a 30.93% stake in Gas Malaysia.
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