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Business Times (Malaysia): Shell sees nod for ProJET buy soon

Kamarul Yunus,
Published: Jul 04, 2007

SHELL Malaysia Trading Sdn Bhd’s retail network will be expanded to more than 900 petrol stations this year, after it buys 44 ProJET service stations.

The unit of Royal Dutch Shell is awaiting the Government’s approval for the ProJET purchase.

Shell Malaysia managing director Datuk Mohzani Abdul Wahab said it expects approval for the acquisition of ConocoPhillip’s ProJET stations and landbanks this month.

“Apart from the organic growth of 30 new stations a year, we are confident that the number of our petrol stations will exceed 900 outlets by year-end following the acquisition of ProJet stations.

“We also have a landbank of 14 sites as stipulated under the agreement signed with ConocoPhillips and these sites will enable us to build more outlets, besides relying on the organic growth,” Mohzani said after revealing the findings of a survey conducted by Shell Global Research on fuel economy in Kuala Lumpur yesterday.

He said with the acquisition, Shell Malaysia’s market share of petroleum retail business is set to rise from the current 33 per cent to 35 per cent. Shell Malaysia operates some 860 stations nationwide.

In April, Shell Malaysia reached an agreement with ConocoPhillips to buy 100 per cent of Conoco Jet Malaysia.

The deal package comprises 44 ProJET retail service stations and 14 vacant sites. The service stations and vacant lands are located mainly in Kuala Lumpur, Selangor and Johor.

Mohzani said the company will be investing to refurbish the former ProJET stations.

“All the 44 ProJET stations will be converted into Shell stations.

There will only be one identity,” he said.

He said sales from the 44 ProJET stations will only be reflected in its account by next year.

“Our sales target is on track during the first half of this year but we believe we can achieve better in the second half,” he said.

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