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Article: Govt to proceed with Bakun project but deal with GIIG Capital off, BUSINESS TIMES

Article from:
Business Times (Malaysia)
Article date:
January 8, 2004
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Business Times (Malaysia)
01-08-2004
LEMBAGA Tabung Angkatan Tentera (LTAT), the Armed Forces
Superannuation Fund, is the party likely to buy BP plc's 70 per cent stake
in BP Malaysia Sdn Bhd.
BP plc, Europe's largest oil company, said on Tuesday it would sell
the 240 petrol stations in Malaysia and 30 more outlets in Singapore as
part of a global strategy of optimising its retail business.
The company said it would refocus its resources on its chemicals,
lubricants and solar power businesses in Malaysia.
The 70 per cent stake LTAT is currently negotiating to buy is
estimated by analysts to cost anything between RM500 million and RM1 billion.

LTAT chief executive officer Tan Sri Lodin Wok ...

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