IEV, Gas Malaysia Extend Deadline for LNG Distribution Study

IEV Holdings Limited and Gas Malaysia have extended the deadline of the feasibility study for processing, transporting and marketing of LNG in Malaysia from 16 January 2013 to 15 March 2013 as more time is required for the said study.

The two parties entered into an agreement in October last year to conduct the feasibility study.

Save for the extension to the deadline of the feasibility study, there is no change to the remaining terms as set out in the MOU. The Company will provide further updates on material developments relating to the MOU as they occur.

Should the study indicate that the LNG projects are feasible, the parties shall agree to negotiate an exclusive Joint Venture Agreement.