p 311 MISC BERHAD - Annual Report 2014 42. Subsequent events (a) On 23 February 2015, the Corporation announced that PETRONAS and Hyundai Heavy Industries Co. Ltd. (“HHI”) have agreed to enter into a novation agreement with the Corporation for the novation of Shipbuilding Contracts between PETRONAS and HHI to the Corporation, for the construction and delivery of the New Liquefied Natural Gas (“Newbuild LNG”) Carriers. In conjunction with the novation agreement, PETRONAS via its indirect subsidiary, PETRONAS LNG Sdn Bhd (“PLSB”), also agreed to enter into Time Charter Parties for the charter of the Newbuild LNG Carriers. (b) The Corporation also announced on 23 February 2015 that PLSB has agreed to extend the charter of five refurbished Puteri Class LNG Carriers on a time charter basis for another ten years for each refurbished LNG Carrier. The respective charters shall commence from the date of delivery of each refurbished Carrier to PLSB, which are expected to be from September 2015 to September 2017.
RkJQdWJsaXNoZXIy NDgzMzc=