We are pleased to announce that Dialog Group Berhad ("DIALOG") has on 31 March 2011 via Dialog Pengerang Sdn Bhd (a wholly-owned subsidiary of DIALOG) ("DPSB? acquired the entire shareholdings of newly incorporated Pengerang Terminals Sdn Bhd ("PTSB") comprising 2 ordinary shares of RM1.00 each at par from unrelated third parties. Subsequently, the issued and paid-up share capital of PTSB was increased to RM500,000 comprising 500,000 ordinary shares of RM1.00 each.
On 31 March 2011, PTSB also acquired the entire shareholdings of newly incorporated Pengerang Independent Terminals Sdn Bhd ("PITSB"), comprising 2 ordinary shares of RM1.00 each at par from unrelated third parties.
Both the companies, PTSB and PITSB, will undertake the development of the independent deepwater petroleum terminal at Pengerang, Johor.
None of the directors and major shareholders of DIALOG and / or persons connected to them have any direct or indirect interest in the said acquisitions and the said acquisitions are not subject to approval of shareholders or any government authorisation.