OTHERS PETROL ONE RESOURCES BERHAD ("COMPANY" OR "PETONE") - ADDENDUM TO MANAGEMENT AGREEMENT DATED 9 JUNE 2016 BETWEEN BEST WIDE ENGINEERING (M) SDN. BHD. AND PETROL ONE STORAGE SDN BHD ("ADDENDUM TO MANAGEMENT AGREEMENT")

PETROL ONE RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description
PETROL ONE RESOURCES BERHAD ("COMPANY" OR "PETONE") - ADDENDUM TO MANAGEMENT AGREEMENT DATED 9 JUNE 2016 BETWEEN BEST WIDE ENGINEERING (M) SDN. BHD. AND PETROL ONE STORAGE SDN BHD ("ADDENDUM  TO MANAGEMENT AGREEMENT")
Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the previous announcement dated 9 June 2016 in relation to the Management Agreement between BWE and POSSB.

Further to the announcement dated 9 June 2016, the Board wishes to announce that POSSB had on 28 February 2017 entered into the Addendum to Management Agreement with BWE to increase the Monthly Fee from RM180,000 per month to RM280,000 per month, starting from 1 April 2017.

Save for the abovementioned, all other terms and conditions of the Management Agreement shall remain unchanged.


This announcement is dated 28 February 2017.





Announcement Info

Company Name PETROL ONE RESOURCES BERHAD
Stock Name PETONE
Date Announced 28 Feb 2017
Category General Announcement for PLC
Reference Number GA1-28022017-00183