Source Pravda.Ru

Petronas Takes Control Of Malaysian Twin Towers

Petroliam Nasional, Malaysia's state owned oil company, has said that it bought a 49 percent stake in KLCC Holdings Bhd. from tycoon Ananda Krishnan, giving it full control of the owner of the world's tallest building.

“We exercised our pre-emption rights months ago and since it's a national project, why not?” Hassan Marican, president of Petroliam Nasional, said in an interview. He declined to give the purchase price.

The Edge weekly magazine reported on July 22nd that Petronas, as the oil and gas company is known, bought the stake for 1.2 billion ringgit ($316 million). The purchase gives Petronas ownership of all of the Kuala Lumpur City Center development, which started a decade ago on a 40- hectare site around a former racing track.

KLCC Holdings spent 4 billion ringgit to build the Twin Towers and several other office blocks. The towers alone cost 1.8 billion ringgit.

©

&to=http://www.petronas.com.my/internet/corp/corpweb3.nsf' target=_blank>PETRONAS

&to=http://www.klcc.com.my/' target=_blank>KLCC Holdings

Comments
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
MP suggests replacing Lenin's mummy with rubber figure
Moving inexorably towards war
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Brexit: The UK's misunderstanding of Democracy
The Amazon and the New Conquistadores
The Amazon and the New Conquistadores
Russians lose faith in their future, get ready for worse
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Without INF Treaty, USA can destroy Russian nuclear weapons easily
USA plays to pretend a mighty dragon that can no longer breathe fire
USA plays to pretend a mighty dragon that can no longer breathe fire
Putin sees no drama if Russia misses Davos forum
Macron challenges Trump. French independence and croissants at stake
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Moving inexorably towards war
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin sees no drama if Russia misses Davos forum