PETALING JAYA: MISC Bhd has entered into a joint venture agreement (JVA) with PETRONAS CCS Ventures Sdn Bhd and Mitsui O.S.K. Lines Ltd to establish a joint venture company for the purpose of procuring and owning liquified carbon dioxide (LCO2) carriers to transport LCO2 to CO2 storage sites in Malaysia.

In a filing with Bursa Malaysia, MISC said the new joint venture is to enable the parties to collaborate and form a synergy based on their current capabilities for the purpose of exploring potential business opportunities, to jointly invest in developing LCO2 carriers for transportation of LCO2 to carbon dioxide storage sites in Malaysia.

“The parties have yet to reach any final investment decision on the LCO2 carriers under the JVA.

“The JVA does not have any effect on the issued and paid-up share capital and substantial shareholding in MISC.”

MISC added that the JVA is also not expected to have any material impact to the earnings per share, gearing and net assets per share of the MISC Group for the financial year ending Dec 31, 2024.