Johor Port to become new business center for international traders

Johor Port in Malaysia wants to attract more players to the Tanjung Bin Petrochemical and Maritime Centre (Tanjung Bin) and make it the new business center for international oil traders in the region;
the project is a step closer to the government’s plan of transforming southern Johor into an oil and gas hub. The Ministry of Finance (MOF) approved the conversion of Tanjung Bin into a free industrial zone on May 10, 2012. The MOF appointed Johor Port as the Zone Authority that will be responsible for the MYR2.4 billion (US$777.5 million) Tanjung Bin. (July 24, 2012)