Key developments On 21 August 2015, MISC entered into an agreement to dispose of our 50% interest in the issued share capital of VTTI B.V. with VIP Terminals Finance B.V., ultimately a wholly-owned s ubs i d i a r y o f V i t o l I n v e s tmen t Partnership Limited. The disposal exercise, involving a cash consideration of USD830 million, was completed on 9 November 2015. Today, VTTI B.V. is no longer a joint venture company of the MISC Group. With the monetisation of our interests in the VTTI B.V. tank terminal business, MISC has unlocked the value of this i nves tmen t . Today, t he Group ’s remaining interest in the tank terminal business is via our joint venture partnership with Dialog Group Berhad in CTSB. Moving forward The current operating entities under CTSB are Langsat Terminal (One) Sdn. Bhd. and Langsat Terminal (Two) Sdn. Bhd. that are operating on long-term fee-based contracts. This guarantees secured income for MISC and does not directly expose us to commodity price fluctuations. 2 tank terminals operating on long-term contracts 0.7 million CBM capacity in Tanjung Langsat 67 MISC BERHAD Annual Report 2015
RkJQdWJsaXNoZXIy NDgzMzc=