Lanka India Oil Company (LIOC), the Sri Lankan entity of Indian Oil Corporation Ltd expects to enter the lubricants market of Malaysia and Indonesia, said the LIOC Managing Director.

In its Annual Report, LIOC Managing Director Subodh Dakwale informed the shareholders that the company’s growth plans are not directed only at the local markets.

Indian Oil Corporation would take steps to set up a agent/dealer network to market its lubricants in Malaysia and Indonesia.

According to Subodh Dakwale, though short term dividends cannot be derived from these export markets, long term dividends could be certainly derived.