KUALA LUMPUR (May 23): MISC Bhd’s wholly owned subsidiary Gas Asia Terminal (L) Pte Ltd (GATL) has entered into an agreement with Regas Terminal (Sg Udang) Sdn Bhd (RGTSU) for a one-off prepayment of US$233.6 million as early settlement of the capex hire fees payable for the remaining charter period of its two floating storage units at LNG Regas Terminal Sungai Udang in Melaka.

In a bourse statement on Tuesday (May 23), MISC said the amount will be paid fully in cash, and the FSUs will continue to be employed by RGTSU until August 2032 as agreed upon.

RGTSU is a wholly owned subsidiary of Petronas Gas Bhd, a listed subsidiary of Petroliam Nasional Bhd (Petronas).

Petronas is also a substantial shareholder of MISC, as it holds a 51% stake in the energy-related maritime services and solutions provider, according to MISC’s 2022 annual report.

At noon break on Tuesday, MISC was unchanged at RM7.38, for a market capitalisation of RM32.94 billion.