Siamgas buys Shell's gas business in M'Sia, VN
Siamgas and Petrochemicals Plc yesterday signed contracts, to expand business in the gas business in Malaysia and Vietnam.
It agreed to buy a 100 per cent stake in Shell Gas (LPG) Vietnam Ltd and a 79.64 per cent stake in Shell Gas Hai Phong Ltd. It also bought the LPG business and asset of Shell Timur Sdh.Bhd in East Malaysia.
Royal Dutch Shell planned to sell off its liquefied petroleum gas (LPG) assets in Malaysia and other countries for some time. This fits the strategy of Siamgas, the second biggest operator in the Thai gas market, in expanding business in Southeast Asia. In July 2010, it bought Shell Gas (LPG) Holdings' Singapore unit for Bt352 million.
