Dutch Vopak takes important step in Malaysia - analysts

Dec 22, 2014 - Dutch oil storage firm Vopak (AMS:VPK) is taking an important step with the announced participation in the construction of a new industrial terminal in Malaysia, ING's analyst Quirijn Mulder said Monday.

According to the analyst, this has been Vopak's largest project ever, which will help it strengthen its position in the region. The plan is also in line with the company's strategy to improve its risk profile in due course. An industrial terminal bears fewer risks than a distribution or import/export terminal, Mulder said.

The industrial terminal will have a storage capacity up to 2.1 million cu m (74.2m cu ft) and Vopak will hold a share of 25%. The other shareholders are Malaysian state-owned oil company Petronas and Dialog Group Berhad (KUL:DIALOG).

By 1406 CET on Monday Vopak shares were trading 1.15% up to EUR 44.08 on Euronext Amsterdam.

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