Gas Malaysia, Tokyo Gas To Jointly Seek Opportunities In South East Asia

KUALA LUMPUR, July 12 (Bernama) – Gas Malaysia Bhd has signed a Memorandum of Understanding (MoU) with Tokyo Gas Co. Ltd to establish a mutual-beneficial co-operation and collaboration in relation to any new investment in the development of natural gas value chain in South East Asia, except Vietnam. The scope of work for the parties will include technical and commercial information, collaborative investments in new projects and personnel exchange for educational and training purposes, it said in a filing with Bursa Malaysia (Malaysian stock market) on Thursday. The MoU is valid for two years and can be extended by mutual agreement. Tokyo Gas is an indirect major shareholder of Gas Malaysia via its 80 per cent stake in Tokyo Gas-Mitsui & Co Holdings Sdn Bhd held through its wholly-owned subsidiary, Tokyo Gas International Holdings B.V. Tokyo Gas-Mitsui & Co Holdings Sdn Bhd, is a direct major shareholder of Gas Malaysia, holding 18.5 per cent equity. -- BERNAMA