KUALA LUMPUR: Dialog Group Bhd, which has allocated close to RM1 billion for its capital expenditure (capex) in financial year 2019 (FY19), is looking for new partners for the third phase development of the Pengerang deepwater terminal in Johor.
“We are currently talking with some multinational companies, but we can only announce when a definitive agreement is signed,” its director of corporate services Chew Eng Kar told reporters after the group’s AGM today.
Last April, the group announced that it is partnering with the Johor government for the Phase 3 development at an indicative initial cost of investment of RM2.5 billion.
On its nearly RM1 billion capex for FY19, the group’s CFO Zainab Mohd Salleh said that the allocation is 50% higher than its RM500 million capex in FY18, and will mostly be utilised for its downstream business (RM500 million).
