PDZ in LPG pact with Ken Makmur

KUALA LUMPUR:

 PDZ Holdings Bhd had entered into a framework agreement with Ken Makmur Holdings Sdn Bhd for the proposed production of liquefied petroleum gas (LPG) and condensate from the natural gas supplied by the latter from the Rakushechnoye Oil and Gas Field, with an indicative entry cost of RM656 million. Payment for the proposed agreement will be in the combination of cash of RM400 million and the issuance of redeemable convertible preference shares for value of RM256.0 million.