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Saturday August 18, 2012
Dialog shareholders’ pact with CAO lapses
PETALING JAYA: Dialog Group Bhd announced its shareholders’ agreement with China Aviation Oil (S) Corp Ltd (CAO) has lapsed.
In filings with Bursa Malaysia, the company said the parties involved had mutually agreed that the agreement would lapse on Monday, as not all the conditions precedent had been fulfilled within the required timeframe.
The agreement was signed between its 55%-owned company, Centralised Terminals Sdn Bhd (CTSB) and CAO. CTSB is 45% owned by MISC Bhd.
Both parties have, however, agreed to continue to explore other suitable collaboration opportunities in the region.
The agreement was previously entered to undertake the proposed design, development, operation, management and maintenance of an oil storage tank terminal facility with a storage capacity of 380,000 m3 within the vicinity of Tanjung Langsat Port, Johor.
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