Mokhzani to take over PetOne?

Dateline 2013-09-26:

Tycoon Datuk Mokhzani Mahathir may take over Petrol One Resources Bhd (PetOne), bankers familiar with the matter said on Monday.

PetOne, Malaysia’s first publicly-traded oil and gas storage provider, has seen its shares suspended from trading since May 22. Bursa Malaysia suspended the stock after the company technically defaulted on some loans.

Business Times understands that Mokhzani’s right-hand man, Yeow Kheng Chew, is leading the talks to take over PetOne.

Mokhzani, which according to Forbes magazine is Malaysia’s 15th richest man with a US$980 million (RM3.2 billion) fortune, is said to be interested in PetOne for its listing status.

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