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Malaysian market move interests observers

The entry of trading company Jawala Corp into the oil and gas industry has raised more than a few...

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The move can possibly be explained by the fact that the Khan family - the major shareholders, led by Tan Sri Abdul Majid Khan and his son Datuk Jema Khan - along with well-connected political figures in the Sarawak state government have a long relationship with the major shareholders of Crest Petroleum Bhd.

Furthermore, Jawala has a joint-venture linkage with Ranhill Bhd in Algeria and Ranhill is touted to be the leading corporation in the proposed oil and gas consortium the government is encouraging to be established. Coincidentally, Crest Petroleum Bhd is also touted as the other company in the consortium. The market is watching with keen interest.

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