Dateline 2015-06-13, The Star:
IT is surprising that Benalec Holdings Bhd is calling off its plans to build a petroleum hub in Tanjung Piai in Johor.
In an announcement this week, the company said the agreement with its partners had lapsed and that there was no intention to pursue the matter further.
Notably, Benalec has influential partners in the form of the Johor royalty and businessman Datuk Daing Malek Daing A Rahman.
The plan included reclaiming and selling about 1,000 acres off the coast of Tanjung Piai for the purpose of constructing and operating a crude oil and petroleum storage facility together with a private jetty.
What is clear though is that with oil and gas (O&G) prices being where they are, all parties planning ventures into this sector have to rethink their business plans, just as the oil majors the world over are admittedly doing.
There are also a significant number of O&G hubs being planned in the state of Johor.
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Wata - Malaysian Oil and Gas Engineer 