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Straits Inter Logistics sells bunker stake to fund fleet acquisition

The sale of a 43% stake in Straits Marine Fuels & Energy for an undisclosed sum is intended to finance among others, vessel acquisition. The Malaysian oil trading and bunkering company has also recently taken a majority stake in Tumpuan Megah Development, a bunker player with licenses to operate at 14 ports across Malaysia

SIL has also through a tie-up with Hong Kong-based Banle Energy International, gained access to the latter's customers who are looking to bunker at the 14 Malaysian ports it services
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