Malaysia plans to lure storage operators


Dateline 2012-09-14:

Malaysia is throwing down the gauntlet to Singapore in its bid to emerge as Asia’s go-to commodity trading hub, according to the Financial Times (FT).

The move, according to the paper’s Singapore-based Asia correspondent Jeremy Grant in an article published on Wednesday, is being spearheaded by a unit in Prime Minister Datuk Seri Najib Tun Razak’s office as part of an ambitious push to position the country as South-East Asia’s centre for oil, gas and petrochemicals.

The FT quoted Malaysia Petroleum Resources Corp (MPRC) executive director Syahrilazli Mahammad as saying Malaysia was embarking on an aggressive plan to attract oil-storage operators by offering zero tax rates as an incentive for companies to build millions of barrels of storage capacity in Johor.

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This entry was posted on Thursday, September 27th, 2012 at 6:00 am and is filed under Malaysia, Malaysian election, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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