Shell to invest $5.3b in KL

Shell to invest $5.3b in KL

KUALA LUMPUR (Reuters): Shell Malaysia, a unit of the Royal Dutch/Shell Group, said on Thursday it plans to invest 20 billion ringgit (US$5.3 billion) over the next five years to expand its oil and gas operations in Malaysia.

Shell Malaysia chairman Lim Haw Kuang said more than half of the total investments would be used for exploration activities.

"We are also looking to expand our capabilities in the gas-to- liquid technology," Lim said at the launch of Shell Treasury Malaysia (L) Ltd, a company incorporated in Malaysia's offshore financial center of Labuan.

Lim said the setting up of Shell Treasury would allow the group to centralize its debt funding activities for Shell's operations in Malaysia.

Shell corporate treasurer Lim Tau Kien said the company would be looking at all financial instruments available including Islamic bonds to raise funds required by the group.

"We will look at various options and will use whatever options which are best for us," she said.