The loan will probably be for nine years and would be used to build an oil storage facility in Malaysia, one of the people said, without wanting to be named as talks are private. Requests for proposals were sent to about 20 banks and Asian Tank is reviewing the responses, the person said.

Asian Tank plans to design, build and operate a fuel storage facility in Johor, Malaysia, that should start operations in April 2012, the founding companies said in an August statement. MISC reported third-quarter profit of 170 million ringgit ($51 million) on Feb. 24 and revenue for the three months to Dec. 31 of 3 billion ringgit.