Company Overview of Centralised Terminals Sdn. Bhd.

China Aviation Oil Singapore Corp. Ltd. announced that it has aborted the plan to enter into a joint venture with Centralised Terminals Sdn. Bhd. for the design, construction, development, operation, management and maintenance of an oil storage terminal at the Port of Tanjung Langsat, Johor, Malaysia.

Centralised Terminals Sdn. Bhd. has on 19 October 2011 incorporated Langsat Terminal (Three) Sdn Bhd under the Companies Act, 1965 with an initial issued and paid-up share capital of MYR 2.00 comprising 2 ordinary shares of MYR 1.00 each. The principal activities of LgT-3 is to undertake the proposed design, development, operation, management and maintenance of an oil storage tank terminal facility with a storage capacity of 380,000 m3 within the vicinity of Tanjung Langsat Port, Johor pursuant to the Shareholders Agreement signed between CTSB and China Aviation Oil (Singapore) Corporation Ltd. on 6 October 2011.

Centralised Terminals Sdn. Bhd. has signed a shareholders' agreement with China Aviation Oil Singapore Corp. Ltd. to form Langsat Terminal (Three) Sdn Bhd. The joint-venture (JV) company will undertake the proposed design, development, operation, management and maintenance of an oil storage tank terminal facility in Johor, for MYR 371 million. The project is expected to start by early 2012 and complete by end 2013.