Another good news from NICORP

NICORP has been invited to participate to purchase a liquefied petroleum gas (LPG) business from Shell Malaysia.

The offer is from a Oman based company called National Gas Company(NGC) which won the bid to buy Shell Malaysia Trading Sdn Bhd (SMTSB) its LPG business for around RM275 million recently.

NGC is partnering with Aspire Sdn Bhd to set up a 40-60 special purpose vehicle to undertake the disposal.

Aspire is owned by Wan Zainalam Wan Yusoff and Wan Zulkifle Wan Yusoff on a 60-40 basis.

But the detail of purchasing by Nicorp has not been stated and will make the necessary announcement.

If the purchase is successful then there will add another core business to the current property investment, property development and round logs timber extraction.