The Ministry of International Trade and Industry (MITI), has yet to receive an official application from ExxonMobil International Holdings, to dispose of its assets in Esso Malaysia Bhd.
"Going by regulations, there is a need to submit an official application(to dispose of an investment interest in this country), as stated in the
manufacturer's licence," its Minister, Datuk Seri Mustapa Mohamed told reporters at the monthly meeting of the ministry here on Thursday, Aug 25.
"However, to date, we have yet to receive any sort of official application from ExxonMobil," he said.
Last week, Philippine conglomerate, San Miguel Corp announced its plan to acquire a 65% interest in Esso Malaysia and all of ExxonMobil Malaysia Sdn Bhd and ExxonMobil Borneo Sdn Bhd.
Bernama also reported on Wednesday that the Armed Forces Fund Board (LTAT) was keen to acquire the interest in Esso Malaysia, an oil refiner and retailer.
On the contention by certain parties who wanted the interest in the oil company to remain with a local entity, Mustapa said he did not wish to comment
as long as there was no official application from ExxonMobil.
"We are following developments on this matter, and will for sure, consider the interest of all concerned," he added. - Bernama
