The Dialog Group plans to expand Langsat Terminal (Three) into a 300,000 m3 storage facility.
In its first quarter 2018 financials the company says that it increased its stake in Langsat Terminal (One) and Langsat Terminal (Two), both providing centralised tankage and terminal facilities in Tnajung Langsat Johor.
The expansion of Langsat Terminal (Three) is part of its strategy to grow sustainable and recurring income and further enhancing shareholders' value in the long term.
As previously reported, Dialog's Pengerang Deepwater Terminal phase 1 is being expanded with an additional 430,000 m3. The construction of phase 2 is on schedule and it is securing new potential partners for phase 3, which will include the development of industrial land and more petroleum and petrochemical storage terminals.
Phase 3 and future phases will be developed on a 800 acre parcel of land.
The company increased revenue by 19.1% in its first quarter to RM778.7 million.
It says: 'Dialog remains confident that its business model is well structured and can withstand the current oil price volatility and currency movements.'
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