Benalec shares up on approval for reclamation of land off Johor
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Kuala Lumpur
SHARES of Malaysian reclamation company Benalec Holdings rose 3.2 per cent to 80.5 sen apiece on Wednesday after it received approval to reclaim 1,411 hectares of land off Tanjung Piai Johor for an integrated petroleum hub and maritime industrial park.
Malaysia's Department of Environment (DOE) approved the detailed environment impact assessment (DEIA) report on Tuesday to enable Benalec to proceed with the first phase of the project for which it has a binding land-sale agreement with 1MY Strategic Oil Terminal Sdn Bhd (1MYSOT).
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