HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Regional Sections > Asia-Pacific > Malaysia


Reply

 
Thread Tools Display Modes
     
     
  #201  
Old Posted Mar 23, 2022, 12:57 PM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 19: Canada | TA Global Bhd
TA Global launches Paradox, a Canadian hospitality brand
Chung Ying Yi March 22, 2022 10:45 am +08


https://www.pinterest.com/okamilin/hotel/
Quote:
PETALING JAYA (March 22): TA Global Bhd has announced the launch of the Paradox collection of hotels and resorts on March 21. Paradox is a Canadian-born boutique hospitality brand, and the brand stands out from traditional hospitality norms through a series of quirky, cultured and highly experiential offerings.

Paradox will make its debut in Vancouver, Canada, with its flagship hotel, Paradox Hotel Vancouver, set to open its doors in April this year. The brand will also be introduced in Southeast Asia, with Paradox Resort & Residences Phuket that was recently opened in January and Paradox Singapore Merchant Court at Clarke Quay in April.

In a statement, TA Global chief executive officer Tiah Joo Kim said the hospitality sector is currently going through a key moment of transformation as technology and social media are quickly changing the way we travel and interact with others. The company recognised a shift was occurring in how people engage with each other and also with the built environment.

Tiah said: “Paradox Hotel Group was born out of an extensive study of this evolution. We have always wanted to consolidate our hotels, and now is the time to embark on this meaningful journey.”

“This transition to one cohesive brand positioning will not compromise the unique heritage and distinctive personalities of each Paradox hotel, most of which have already gained global recognition from the hospitality and travel industry. We are confident that the diversity of our Paradox hotel, resort and lifestyle-hospitality offerings will serve as an immersive gateway to culturally enriching destinations worldwide; truly exemplifying the strength and momentum behind our ambition to be recognised among the top boutique hotel brands in the coming years,” he added.

Also joining the Paradox portfolio are independently branded properties such as Summit Lodge Boutique Hotel and Aava Hotel in Whistler. With five hotels and resorts located in distinct destinations around the world, Paradox Hotel Group provides an exciting journey of brand discovery for its international guests.
https://www.theedgemarkets.com/artic...pitality-brand

Quote:
Trump Tower Vancouver is to be renamed the Paradox Hotel
December 10, 2021 by admin987
Paradox Hotel is a new hotel division of Malaysian real estate giant TA Global Berhad, which is closely linked to the Vancouver-based Holborn Group under the same ownership and management.
https://heromag.net/trump-tower-vanc...-paradox-hotel
Reply With Quote
     
     
  #202  
Old Posted Mar 24, 2022, 11:21 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 20: USA | Supermax Corp Bhd
Supermax releases artist impression of US$350mil glove factory in Texas
By NST Business - March 22, 2022 @ 6:54pm
Supermax Corp Bhd says its US-based subsidiary Maxter Healthcare Inc has released the artist impression of its advanced manufacturing facility in Brazoria County in Texas, United States. Supermax exports to 165 different countries and has distribution centres and operations in the US, Canada, UK, Ireland, Brazil, Japan, Hong Kong, and Singapore.
https://www.nst.com.my/business/2022...-factory-texas


https://www.thesundaily.my/business/...exas-BA8983636

Supermax to build facility in Texas
Wednesday, 23 Mar 2022
Quote:
KUALA LUMPUR: Supermax Corp Bhd via its US-based subsidiary Maxter Healthcare Inc will build an advance manufacturing facility in Brazoria County, Texas, the United States.

Supermax said the new facility would be the company’s 18th manufacturing plant worldwide and its first in the United States.

The 215-acre manufacturing facility will showcase cutting edge capabilities through expanded use of artificial intelligence and robotic engineering and will comprise eight buildings, according to Supermax.

“Phase one will begin construction in the second quarter of 2022 with glove production expected to start in the second quarter of 2023,” it said in a filing Bursa Malaysia yesterday. — Bernama
https://www.thestar.com.my/business/...ility-in-texas
Reply With Quote
     
     
  #203  
Old Posted Mar 26, 2022, 7:59 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 21: Australia | Nirvana Asia Group
Beulah and partner Nirvana group founder Kong to bring new Four Seasons Hotel to Melbourne
Syafiqah Salim March 25, 2022 19:15 pm +08



Quote:
KUALA LUMPUR (March 25): Melbourne property developer Beulah has joined hands with Nirvana Asia Group founder Tan Sri Kong Hon Kong and Four Seasons Hotels and Resorts to bring a new hotel to Melbourne, Australia that will be located within Beulah's A$2.7 billion development, STH BNK, which is set to be the tallest building in the country.

Kong invested in the hotel — the Four Seasons Hotel Melbourne, which will have 210 rooms and crown the western tower of STH BNK — via his private vehicle KHK Group.

In a joint statement by the partners, Kong said KHK is proud and excited to bring the globally renowned brand to Melbourne, Australia together with Beulah. "Melbourne being one of the most liveable cities in the world has fared well economically during the pandemic and we are thrilled to expand and continue our investments in Australia."

The Four Seasons Hotel Melbourne will be accessible via a Sky Lobby situated on the 63rd floor of the STH BNK tower, which will offer panoramic views of Melbourne's city skyline, beachfront and Royal Botanical Gardens. The hotel will also offer a world-class integrated health and wellness experience, a sprawling rooftop restaurant and bar and multiple event spaces, creating an ultra-luxurious urban resort in the sky, the statement read.
https://www.theedgemarkets.com/artic...otel-melbourne

Quote:
Nirvana Asia Group
https://www.nirvana.com.my/resources/who-we-are/

Established in 1990, Nirvana Asia Group is a world-class, full-fledged integrated bereavement care provider with over three decades of experience in memorial park operations. We play a vital role in promoting culture, most notably in funeral rites and traditions within the Malaysian Chinese community. We aspire to constantly keep improving, innovating and raising our standards of service as a leader in the industry in Malaysia and Asia as a whole.
From the first approved private memorial park in Semenyih, Selangor, Nirvana Asia Group has since expanded to Shah Alam and Klang (Selangor), Penang Island and Bukit Mertajam (Penang), Kulai, Segamat and Tiram (Johor), Kuala Lumpur, Sungai Petani (Kedah), Ipoh (Perak), Melaka, Kota Kinabalu (Sabah) and Sibu (Sarawak). Nirvana Asia Group also currently has international presence in Jakarta and Medan (Indonesia), Ban Bueng (Thailand) and Singapore.
Reply With Quote
     
     
  #204  
Old Posted Mar 26, 2022, 10:58 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 30: Indonesia | CIMB Group Holdings Bhd
Sun Life nears US$400m Indonesia deal with CIMB — sources
Manuel Baigorri & Elffie Chew /BloombergMarch 24, 2022 20:02 pm +08
Quote:
(March 24): Sun Life Financial Inc is nearing an agreement to expand its partnership in Indonesia with Malaysian lender CIMB Group Holdings Bhd, according to people with knowledge of the matter.

CIMB, which owns a 91.5% stake in Indonesia’s PT Bank CIMB Niaga, is in advanced talks with Sun Life over the so-called bancassurance deal in the Southeast Asian country, the people said. Under such an agreement, an insurer typically pays an upfront amount to sell its products in the bank’s branches. A pact could be valued at about US$400 million (about RM1.69 billion), said the people, who asked not to be identified as the process is private.

CIMB was considering renegotiating terms of its bancassurance partnerships in Indonesia, including its arrangement with Hong Kong-based insurer AIA Group Ltd, Bloomberg News reported in October. The expanded Sun Life deal is poised to take over AIA partnership with CIMB, one of the people said.

An enhanced partnership could ensure Sun Life’s presence in Indonesia, which has about 274 million people. The Canadian insurer has had a bancassurance deal with CIMB in Indonesia since 2009. Sun Life took control of PT CIMB Sun Life in 2016.

The Malaysian lender and Sun Life are finalising details of a deal and talks could still fall apart, the people said.

Sun Life actively looks for opportunities that add scale, a representative said in response to Bloomberg queries, declining to comment further. A representative for CIMB declined to comment, while a representative for Bank CIMB Niaga didn’t immediately respond to requests for comment.
https://www.theedgemarkets.com/artic...mb-—-sources
Reply With Quote
     
     
  #205  
Old Posted Apr 4, 2022, 10:00 PM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 31: Singapore | Pintaras Jaya Bhd
Pintaras Jaya wins piling contracts worth RM90 mil in Singapore
Syafiqah Salim April 04, 2022 18:27 pm +08
Quote:
KUALA LUMPUR (April 4): Pintaras Jaya Bhd said the group has secured three piling contracts worth S$29 million (RM90 million) in Singapore.

The contracts, which were awarded to its Singapore-based unit Pintary Foundations Pte Ltd, will commence in May with contract periods of between three and four months.

The contracts are expected to contribute positively to the group’s earnings for the financial year ending June 30, 2022, the piling and foundation specialist added in a bourse filing.
https://www.theedgemarkets.com/artic...-mil-singapore
Reply With Quote
     
     
  #206  
Old Posted Apr 4, 2022, 10:02 PM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 22: UK | Tenaga Nasional Bhd (TNB)
TNB completes acquisition of UK onshore wind portfolio for £146 mil
Syafiqah Salim April 04, 2022 14:14 pm +08
Quote:
KUALA LUMPUR (April 4): Tenaga Nasional Bhd (TNB) said its wholly-owned unit Vantage RE Ltd has completed its acquisition of a 100% stake in a 97.3 megawatts (MW) onshore wind portfolio in the UK from a number of funds advised by independent global private asset management firm Capital Dynamics for £145.9 million (RM807.74 million).

This acquisition, following TNB’s maiden venture into the UK offshore wind market last October, marks another significant milestone in the utility giant’s strategy to grow its global renewable energy (RE) portfolio while strengthening its presence in a focus market.

According to TNB’s statement, the wind portfolio comprises operational onshore wind farms across 11 sites in the UK that were developed under either the Feed-in Tariff or Renewable Obligation Certificate subsidy regimes, which are expected to provide stable long-term revenues.

Upon the completion of this acquisition, Vantage RE’s total operational RE capacity will grow by 23% from 433MW to 530MW, said TNB.

It said this additional onshore wind capacity will diversify Vantage RE’s existing RE technology mix and improve the balance of its portfolio’s electricity generation profile throughout the year.

TNB’s president and chief executive officer Datuk Baharin Din said this acquisition represents the continued success of the group’s strategy execution to expand TNB’s RE portfolio in focus markets such as the UK and Europe while accelerating TNB’s journey in delivering its global environmental, social and governance (ESG) vision.

“We firmly believe in an innate responsibility towards a better world and brighter lives anchored on TNB’s aspiration towards net zero emissions by 2050. TNB’s Sustainability Pathway is underpinned by our commitment to reduce 35% of our emissions intensity as well as 50% of our coal generation capacity by 2035,” he said.

Baharin stated that this strategic acquisition of additional operational assets that are underpinned by subsidy regimes would also allow TNB to fully benefit from stable revenues and build financial resilience to weather the economic challenges aggravated by Covid-19.

In addition, he said this will move TNB a step closer to transitioning towards a new energy future of low carbon generation consistent with the company’s Sustainability Pathway and overall ESG vision.

“The continuous development of our internal capabilities in onshore wind is key as we pursue onshore wind opportunities globally and create value through operational excellence. By acquiring this portfolio, we are building a platform to broaden our technology know-how in onshore wind and provide further capability development within the group,” Baharin added.

Shares of TNB fell 5 sen or 0.55% to close at RM9.07 on Monday (April 4), giving it a market capitalisation of RM51.94 billion.
https://www.theedgemarkets.com/artic...rtfolio-£146m
Reply With Quote
     
     
  #207  
Old Posted Apr 13, 2022, 1:01 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 23: Kazakhstan | CN Asia Corporation Bhd
CN Asia enters framework agreement relating to a proposed LPG production in Kazakhstan
Bernama April 11, 2022 21:21 pm +08
Quote:
KUALA LUMPUR (April 11): CN Asia Corporation Bhd had entered into a framework agreement with Markmore Energy (Labuan) Ltd And Caspioil Gas Llp (COG), after negotiating for further terms and conditions in relation to a project at the Rakushechnoye Oil and Gas Field in Kazakhstan.

It said the framework was in relation to the drilling, extraction, processing and production of natural gas extracted from the field and the establishment of the central processing complex (CPC) in Ak Kum, Mangistau Province, Kazakhstan to process natural gas into liquefied petroleum gas (LPG) and condensate.

“Markmore Energy, through its wholly-owned subsidiary, Markmore Central Asia B V (MCA) holds the entire participatory interest in COG, which in turn is the concession holder of the Rakushechnoye Oil and Gas Field,” it said in a filing with Bursa Malaysia on Monday (April 11).

It said the framework agreement set out the outline of corporate exercises to be undertaken by CN Asia, among others, to propose a special issue of up to 30% of the existing share capital of the company to raise minimum funds of RM15 million.

CN Asia said the framework also included a rights issue with warrants to raise minimum proceeds of RM200 million, as well as proposed issuance of redeemable convertible preference shares of one sen each in CN Asia to Markmore Energy to partially satisfy the entry cost.

It said the proposed LPG production is intended to provide CN Asia with a new source of income and allow for the monetisation of the gas and condensate to be produced at the Rakushechnoye Oil and Gas Field.

“The proposed LPG production also allows CN Asia to unlock the full potential of the Rakushechnoye Oil and Gas Field.

“The exercise is expected to enhance the overall returns to the Rakushechnoye Oil and Gas Field through the minimum internal rate of return of 15% per annum,” it added.
https://www.theedgemarkets.com/artic...ion-kazakhstan
Reply With Quote
     
     
  #208  
Old Posted Apr 13, 2022, 1:03 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 24: India | Metrod Holdings Bhd
Metrod’s The Leela Goa to be rebranded as St Regis Goa
Adam Aziz April 08, 2022 23:08 pm +08
Quote:
KUALA LUMPUR (April 8): Metrod Holdings Bhd said its 51%-owned five-star hotel The Leela Goa in India will be rebranded as St Regis Goa, following an operating agreement signed with Marriot International Inc.

The Leela Goa, located in Cavelossim Village in Salcete Taluka, is owned by Ceres Hotels Private Ltd, which is in turn 51%-owned by Metrod’s wholly-owned unit Metrod Holdings (Singapore Pte Ltd).

The Leela Goa is Metrod’s first hotel upon its diversification into the hospitality business in 2015, whereby it forked out RM170.15 million for the venture. The company is also involved in the manufacturing of copper products.

hares of Metrod Holdings settled one sen or 0.69% higher at RM1.45, giving it a market capitalisation of RM174 million.
https://www.theedgemarkets.com/artic...d-st-regis-goa
Reply With Quote
     
     
  #209  
Old Posted Apr 13, 2022, 4:24 PM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 32: Indonesia | Shoraka Digital Ventures (SDV)
Shoraka Digital ventures into Indonesian fintech market
By Farah Adilla - April 13, 2022 @ 1:03pm



In a statement, SDV said the partnership would mark the first international venture by the company that would facilitate the offering of locally developed fintech solutions to the regional market.
Quote:
KUALA LUMPUR: Shoraka Digital Ventures (SDV) is partnering with Indonesia's PT Kennlines Capital, expanding its financial technology (fintech) business into the country.

In a statement, SDV said the partnership would mark the first international venture by the company that would facilitate the offering of locally developed fintech solutions to the regional market.

SDV is the digital technology arm of Shoraka Group, founded in Dubai by a group of professionals with a business focus on financial advisory in the Southeast Asian and Middle East regions.

Since its inception, the group has expanded its business activities into construction, property, digital technology, education, and the energy industry.

Kennlines is an Indonesian investment holding company focusing on infrastructure, enterprise, digital and advisory. It has defined its portfolio in aspects of contributing to the development of the national economy.

SDV said the partnership showed its dedication to building on its expertise in the digital technology industry.

"With Kennlines' strong domestic networking, this strategic collaboration will be the vehicle for SDV in effectively providing digital solutions to suit the needs of the Indonesian community," it added.

Shoraka Group founder Mohd Hasnul Ismar Mohd Ismail said the joint venture was a strategic collaboration with a strong partner that the company had been working with for several years in other aspects of the group's businesses.

"Given the unique fintech solutions offered by Shoraka DV and Kennlines' strong local networking, we aim to leverage on each other's strength to unlock market opportunities in Indonesia," he said.

SDV managing director Johar Amat said the other region on its radar was the Middle East.

"We at Shoraka DV are constantly striving to innovate more digital solutions beyond fintech and looking to ink more strategic partnerships like this in other parts of the world to offer our digital solutions," added Johar.
https://www.nst.com.my/business/2022...fintech-market
Reply With Quote
     
     
  #210  
Old Posted Apr 13, 2022, 4:28 PM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 25: USA | Genting Malaysia Bhd
Genting Malaysia tipped to win full casino licence in New York
Surin Murugiah April 13, 2022 06:54 am +08

Quote:
KUALA LUMPUR (April 13): Genting Malaysia Bhd and MGM Resorts are seen as strong favourites to win full casino licences in New York after Governor Kathy Hochul reached a budget deal with senate leaders over the weekend to fast-track casino legislation.

Macau-based Inside Asian Gaming (IAG), a publication devoted to provide the latest information on gaming industry developments in Asia on Tuesday (April 12) reported that under the deal, New York can issue licences for up to three downstate casinos, depending on the attractiveness of bids, with the New York State Gaming Facility Location Board now expected to run a competitive process similar to the upstate casino selection process conducted several years ago.

It said the legislation sets a minimum licence fee of US$500 million but gives the New York State Gaming Commission the option to accept higher bids.

Slot and table tax minimums are set at 25% and 10% respectively but could also be increased as part of the bidding process.

Citing CBRE Equity Research analyst John DeCree, it said that the existing electronic table game (ETG)-only casinos — Genting Malaysia’s Resorts World New York City (RWNYC) and MGM’s Empire City — held a natural advantage due to likely concerns over community support and economic development.

“Demonstrating evidence of local support and zoning approval is required for all applicants.

“This could be the most challenging part of the process, which is one of the reasons we believe Empire City and RWNYC are front runners for two of the three licences,” said DeCree.

DeCree also noted that economic activity and business development, including maximising revenues received by the state and localities, are the primary criteria for awarding licences.

“This is another key reason we view Empire City and RWNYC as likely winners.

“In addition, capital investment and job creation are key factors. The remaining criteria include mitigating the potential impact on host communities, workforce enhancement, sustainability and diversity,” he said.

IAG said DeCree estimated the total addressable market in New York at US$4.8 billion in gross gaming revenue, estimating that MGM’s Empire City could generate US$1.28 billion in gaming revenue and US$1.45 billion in total revenue annually.
https://www.theedgemarkets.com/artic...cense-new-york
Reply With Quote
     
     
  #211  
Old Posted Apr 16, 2022, 12:31 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 33: Indonesia | CCK Consolidated Holdings Bhd
CCK Consolidated seeks to buy Indonesian seafood exporter for RM34m
Sulhi Khalid April 14, 2022 18:46 pm +08
Quote:
KUALA LUMPUR (April 14): Integrated poultry firm and retail player CCK Consolidated Holdings Bhd has proposed to acquire the entire stake in Indonesia-based PT Bonanza Pratama Abadi for US$8 million (RM33.74 million) cash.

In a filing with Bursa Malaysia on Thursday (April 14), the group said its wholly-owned subsidiary PT Adilmart has entered into a conditional sale share agreement with Mitsumoto Corp Ltd, Seven Star Enterprise Sdn Bhd, Harvest Bonanza Sdn Bhd and Miradewi Rosadi for the proposed acquisition.

PT Bonanza is principally engaged in processing and freezing shrimp for local and export sales including principal products such as frozen raw shrimp, frozen cooked shrimp and frozen nobashi ebi shrimp.

“The proposed acquisition will be synergistic to CCK’s existing seafood business as well as the business of poultry processing and manufacturing of downstream products such as sausages, patties and meatballs, and as such is expected to complement the CCK Group’s existing activities.

“It will also provide an opportunity for CCK to establish business integration with PT Bonanza leading to improved operational efficiencies and reduced production costs through its value chain," said CCK.

In a separate statement, CCK group managing director Tiong Chiong Hiiung said based on the latest audited figures as at Dec 31, 2020 for PT Bonanza, total revenue amounted to US$14.8 million (about RM60 million), while earnings were just below US$1 million (about RM4 million).

"In addition to adding size and scale to our prawn segment, this proposed acquisition is also earnings accretive for CCK, with a purchase consideration at 8.7 times PE multiple," he added.

Upon completion of the proposed acquisition, PT Bonanza will become a wholly-owned subsidiary of CCK, allowing CCK to have control over PT Bonanza’s management and operations and reap the benefits of future revenue and profits as well as consolidate the financial results of PT Bonanza, it added.

The group said the proposed acquisition will be funded from internal funds and/or bank borrowings and is expected to complete by the second half of the year.

CCK operates 63 CCK Fresh Mart retail stores, two CCKLocal supermarkets and six wholesale stores in Sabah and Sarawak.

Shares in CCK ended unchanged at 56.5 sen on Thursday, valuing the group at RM356.56 million.
https://www.theedgemarkets.com/artic...exporter-rm34m
Reply With Quote
     
     
  #212  
Old Posted Apr 16, 2022, 12:33 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 34: Indonesia | Petroliam Nasional Bhd's (Petronas)
Petronas achieves first hydrocarbon from Bukit Tua Phase-2B project in Indonesia
Adam Aziz April 14, 2022 18:28 pm +08
Quote:
KUALA LUMPUR (April 14): Petroliam Nasional Bhd's (Petronas) unit PC Ketapang II Ltd (PCK2L) has achieved first hydrocarbon in Bukit Tua Phase-2B’s BTJTB-T2 well, located within the Ketapang Block, offshore East Java, Indonesia.

Petronas is the operator of the Ketapang Block with 80% participating interest through PCK2L and Petronas Carigali (Ketapang) Ltd. The remaining 20% is held by PT Saka Ketapang Perdana.

“This milestone is part of the fourth development project after Bukit Tua Phase 1, Phase 2A and Phase 3,” said Petronas in a statement on Thursday (April 14).

“The project aims to produce 12,500 barrels of oil equivalent (boe) per day, and 30 million standard cubic feet (mmscf) of gas per day through five development wells,” it said.

The BTJTB-T2 well was spudded on Sept 30, 2021, and drilled with a target depth of 1,890m.

“As a progressive energy and solutions partner, this achievement demonstrates our commitment to deliver a safe and reliable supply of energy to Indonesia," Petronas executive vice-president and chief executive officer of upstream Adif Zulkifli said.

“The Bukit Tua Phase-2B project's first hydrocarbon will play an important role in contributing to Indonesia's target to achieve one million barrels of oil per day by 2030,” he added.

In offshore East Java, Petronas is also the operator in the North Madura II PSC. Across Indonesia, the national oil firm is also a joint venture partner in six other blocks located both onshore and offshore in Sumatera, Natuna Sea, as well as West Papua.
https://www.theedgemarkets.com/artic...ject-indonesia

Last edited by nazrey; Apr 16, 2022 at 12:44 AM.
Reply With Quote
     
     
  #213  
Old Posted Apr 21, 2022, 7:09 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 35: Brunei | Bintai Kinden Corp Bhd
Bintai Kinden appointed exclusive distributor for Gerab in Malaysia, Brunei
By Azanis Shahila Aman - April 20, 2022 @ 1:49pm
Quote:
KUALA LUMPUR: Bintai Kinden Corp Bhd's subsidiary Bintai Energy Sdn Bhd has been appointed as an exclusive distributor for pipes and valves supplied by Gerab Group in Malaysia and Brunei.

Bintai Energy signed a distribution agreement with Gerab National Enterprises LLC (Gerab) for the distribution of pipes and valves for oil and gas business supplied by the latter.

Gerab is the leading bulk stockist and supplier of seamless pipes, welded pipes and allied components in the Middle East for oil and gas, power generation, water desalination, petrochemical process, mining, construction and ship-building industries worldwide.

Bintai Kinden said Gerab would provide marketing, promotional and other information in relation to the products to support it n managing its distributorship during or after delivery of the products.

"The agreement is for a one-year period and subject to the terms therein, unless termination notice in writing is given by either party 30 days prior to the termination," it said.

Bintai Kinden executive director Azri Azerai said the agreement would enable Bintai Energy and Gerab to render their full cooperation within their framework of their domestic laws, rules, regulations and policies to market and sell the products.
https://www.nst.com.my/business/2022...alaysia-brunei
Reply With Quote
     
     
  #214  
Old Posted Apr 21, 2022, 7:12 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 36: Philippines | Axiata Group Bhd
Axiata's unit edotco buys telecom towers in Philippines for RM3.42bil
By Farah Adilla - April 20, 2022 @ 12:18pm
Quote:
KUALA LUMPUR: Axiata Group Bhd's subdidiary edotco Group Sdn Bhd is acquiring 2,973 telecom towers in the Philippines through a sale and lease back transaction with subsidiaries of PLDT Inc.

The transaction, valued at RM3.42 billion, makes edotco the leading tower company (TowerCo) in the Philippines with 3,073 towers.

Separately, edotco has been granted the commitment to build and develop 750 build-to- suit (BTS) sites for leasing to PLDT in the future.

edotco chairman Datuk Dr Nik Ramlah Nik Mahmood said the transaction presentef a unique opportunity for edotco to gain immediate scale in a market with significant infrastructure needs while establishing a partnership with PLDT, a highly reputable and reliable anchor tenant.

"Being the largest TowerCo in the Philippines, edotco can be instrumental in shaping and developing the communications infrastructure in the country while creating value for its shareholders," she said in a statement today.


Chief executive officer Adlan Tajudin said the deal was a highly strategic acquisition for edotco as it diversified and strengthened the company's pan-Asian platform with exposure to a nascent, high-growth market with strong governmental support

"With an established platform in the Philippines, edotco can play an instrumental role in developing the nation's digital economy infrastructure while accelerating its organic and inorganic growth strategy," he said.

The 750 committed BTS orders are expected to be situated in strategic locations with high colocation potential driven by the rollout of 4G/5G and network densification requirements.

Additionally, out of the 2,973 towers being acquired, 2,643 (89 per cent) are ground-based towers with the majority of more than 40 metres in height, making such towers optimal for colocation activity.

The acquisition is scheduled to be completed by the end of this year.

Following the transaction, edotco will manage and operate a diversified portfolio of 54,000 towers across nine countries – Malaysia, Indonesia, the Philippines, Bangladesh, Pakistan, Cambodia, Myanmar, Sri Lanka and Laos.

The transaction further cements edotco's position as the sixth largest tower company globally.
https://www.nst.com.my/business/2022...pines-rm342bil
Reply With Quote
     
     
  #215  
Old Posted Apr 21, 2022, 7:38 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 26: Nepal | Rohas Tecnic Bhd
Rohas Tecnic wins RM65.65m utilities contract in Nepal
Seah Eu Hen April 18, 2022 17:45 pm +08

Quote:
KUALA LUMPUR (April 18): Rohas Tecnic Bhd said it has been awarded a RM65.65 million contract in Nepal.

In a filing on Monday (April 18), Rohas Tecnic said its subsidiary HG Power Transmission Sdn Bhd has been awarded a contract from the Nepal Energy Authority. It added that this is its subsidiary’s first successful award in Nepal.

The contract is funded by the Asian Development Bank and was secured in open international tender, Rohas Tecnic said.

The contract is for the design, supply, installation, testing and commissioning of 132 kilovolts (kV) transmission lines conductor upgrading (procurement of plant) of value US$14.56 million or 115.58 million Nepalese rupee, equivalent to approximately RM65.65 million, the filing noted.

The contract has a 2.5-year tenure and is expected to commence in the third quarter of 2022, according to the filing.

“The contract is expected to have a positive impact on Rohas Tecnic group’s results for the year ending Dec 31, 2022 and in the future,” it added.

At market close on Monday, Rohas Tecnic’s shares were unchanged at 26.5 sen apiece, valuing the industrial engineering group at RM125.3 million based on 472.66 million outstanding shares.
https://www.theedgemarkets.com/artic...contract-nepal
Reply With Quote
     
     
  #216  
Old Posted Apr 21, 2022, 8:46 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 26: Iraq | Petroliam Nasional Bhd (Petronas)
Petronas says to increase crude oil production capacity at Iraq's Garraf oilfield
Syafiqah Salim April 20, 2022 14:55 pm +08
Quote:
KUALA LUMPUR (April 20): Petroliam Nasional Bhd (Petronas) said its upstream arm Petronas Carigali Iraq Holding B.V. (PCIHBV) will increase crude oil production capacity at Iraq's Garraf oilfield to 130,000 barrels per day from around 100,000 barrels per day currently by the third quarter of 2022 under the Malaysian national oil company's plan to realise its plateau production target of 230,000 barrels per day in 2024.

According to Petronas, PCIHBV, which is the operator of the Garraf oilfield, recently marked a significant development in its operations as PCIHBV secured approval from the host authority to ramp up its production capacity there.

"The Garraf oilfield, the largest crude oil producer for Petronas' upstream business, has been producing around 100,000 barrels per day.

"To support this progress, PCIHBV has brought into service a 30 kbopd (thousand barrels of oil per day) leased oil train (LOT) facility that will increase the field's production capacity to 130,000 barrels per day.

"With safety as a top priority, PCIHBV has commenced the start-up activities at the LOT facility, and is now in the stabilisation phase," Petronas said in a Facebook post on Sunday (April 17, 2022).

Petronas said the achievement would not have been possible without the strong collaboration among its partners, namely Japan Petroleum Exploration Co Ltd and North Oil Co, as well as with the continued support from the Iraqi Ministry of Oil and Thi Qar Oil Co.

"The company (Petronas) is set to drive efforts to increase Garraf oilfield's production to another level by [the third quarter of] 2022, paving the way for it to realise its plateau production target of 230 kbopd in 2024," Petronas said.

According to Petronas' website, PCIHBV has been operating in Iraq since 2010 with ventures in three oilfields comprising the Garraf, Halfaya and Badra oilfields.

As the operator of the Garraf oilfield, Petronas said it successfully delivered its first oil from the Garraf oilfield on Aug 31, 2013.
https://www.theedgemarkets.com/artic...rraf-oil-field
Reply With Quote
     
     
  #217  
Old Posted Apr 27, 2022, 6:03 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 27: UK | Sime Darby Property Bhd
Phase 3B of the Battersea Power Station will be launched this year
By Sharen Kaur - April 25, 2022 @ 5:01pm



Quote:
This year, Sime Darby Property Bhd is set to launch phase 3B of the Battersea Power Station project in Central London.

Rizal Rickman Ramli, its non-independent and non-executive chairman, said that the Battersea Power Station project shows promising prospects, with crowds returning to the development for the summer.

He stated in Sime Darby Property's integrated annual report 2021 that the group is looking forward to launching phase 3B of the joint-venture (JV) development.

Sime Darby Bhd, S P Setia Bhd, and the Employees Provident Fund (EPF) formed Battersea Project Holding Company Ltd (BPHCL) in July 2012 and purchased the iconic Battersea Power Station for £400 million.

Sime Darby and S P Setia each own 40 per cent of BPHCL, with the EPF holding the remaining 20 per cent. Sime Darby also serves as the venture's chairman.

Future phases of the Battersea Power Station project, according to Rizal Rickman, are currently being reviewed, guided by a flexible planning and development strategy.

He stated that Sime Darby is closely monitoring market trends in the United Kingdom, including London, and is learning from the experience of managing this massive investment for future business.

"Despite our sanguine mood for better prospects and opportunities in 2022, we are under no illusion that there are still uncertainties and challenges in the economy due to the rising inflation, geopolitical tensions, and the lingering impact of the prolonged Covid-19 pandemic.

"However, with the group's strong leadership, agile employees, and sound fundamentals, we are confident that our ability will enable us to navigate situations and challenges with sustained success. Overall, we are confident that we are on track to achieving our end goal of becoming a real estate company by 2025," he said.

The board is generally pleased with the progress made thus far, particularly in the fiscal year 2021, when Sime Darby Property achieved numerous tangible positive outcomes, including solid sales achievement, the highest-ever gross development value of new launches, and financial improvements across all business lines, Rizal Rickman said.
https://www.nst.com.my/property/2022...-launched-year
Reply With Quote
     
     
  #218  
Old Posted Apr 27, 2022, 6:05 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 28: India | SMH Rail Sdn Bhd
SMH Rail wins RM367mil Mumbai monorail contract
By MENG YEW CHOONG Sunday, 24 Apr 2022



Quote:
KUALA LUMPUR: A home-grown company has been awarded a contract to supply Mumbai with 40 monorail cars in a project worth US$85mil (RM367mil).

It also marks Malaysia’s success in developing local industry players through technology transfer.

The Mumbai monorail, which partially opened in 2014, is the first monorail in India since the Kundala Valley Railway and Patiala State monorail were closed in the 1920s.

The contract commissioning for the additional 10 sets of four cars each includes design, manufacture, supply and testing, with expected completion within the next two years.

In a statement on Friday, the Rawang-based SMH Rail Sdn Bhd said it clinched the contract from the Mumbai Metropolitan Region Development Authority (MMRDA) to supply the monorail rolling stock together with its Indian partner, the Hyderabad-based Medha Servo Drives Pte Ltd.

The project is implemented and operated by MMRDA.

This Mumbai monorail started commercial operations with the single line serving 17 stations, generating 1.2 million riders a year.

Over the years, the original monorail sets from another supplier had suffered much wear-and-tear, thus MMRDA has been on the lookout for modern equipment to boost the quality of services.

The procurement of the additional cars from SMH Rail is expected to improve the frequency of its monorail services and increase ridership by allowing the possibility of shortening intervals to as low as five minutes between each train.

According to SMH Rail, various refinements had been introduced to make the new cars lighter, thus decreasing the load on the guide way and piers, while being able to carry 10% more passengers.

SMH Rail attributes its global success to the Industrial Collaboration Programme (ICP) championed by Malaysia’s Technology Depository Agency (TDA), an agency under the Finance Ministry.

As the monitoring authority for the ICP, TDA functions to manage, administer, and monitor the implementation of the ICP to further develop the local industry and the nation’s technology capabilities leveraging on strategic government procurement.

Over the years, SMH Rail has had notable collaborations with Siemens AG and Hyundai-Rotem, both manufacturers of the MRT trainsets used in Malaysia.

According to Dr Sharoul Jambari, CEO of TDA, the success of SMH Rail as global player is the result of the government’s ICP that aims to develop local players’ capabilities through technology transfer, otherwise known as the offset programme.

Through the ICP, SMH Rail was given the opportunity to locally assemble and deliver 428 cars for the Kajang and Putrajaya MRT lines.

In a response to The Star, Datuk PK Nara, chairman and managing director of SMH Rail, said: “The Mumbai monorail project demonstrates the successful implementation of the ICP that provided leverage for SMH Rail to expand its capability for export by offering a level playing field in the rapidly growing global rail transport market.”

He said the government’s procurement policy had allowed Malaysia to establish a strong foundation to achieve competency in design, engineering and manufacturing of electric trains and locomotives in the region.

“We are committed towards building innovative solutions for the global rail industry, and are pleased to offer our expertise towards developing new cars for the Mumbai monorail alongside our partner Medha Servo Drives.

“With over 20 years of industry experience, we are focused on continuously delivering solutions for our global railway partners to ensure commuters in Mumbai can enjoy a more comfortable and faster travel experience,” he said.
https://www.thestar.com.my/news/nati...orail-contract
Reply With Quote
     
     
  #219  
Old Posted Apr 27, 2022, 6:07 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
WORLD 2022
Part 29: India | IJM Corporation Bhd
IJM opens 110-km Indian highway
By NST Business - April 27, 2022 @ 8:54am

Quote:
KUALA LUMPUR: IJM Corporation Bhd has achieved a milestone with the highly anticipated opening of the Solapur-Bijapur tollway built by its Indian arm, IJM (India) Infrastructure Ltd.

In a statement today, the company said India's Union Minister for Road Transport and Highways Shri Nitin Gadkari inaugurated the 110-kilometre tollway at a ceremony in Solapur, Maharashtra state on Monday.

The National Highway Authority of India (NHAI) awarded a 20-year concession contract to IJM India to develop the Solapur-Bijapur section of the new National Highway 52 between the states of Maharashtra and Karnataka.

At RM1.5 billion, the four-lane tollway was the largest Indian project undertaken by IJM in value and one of the largest contracts awarded by NHAI on a design, build, finance, operate and transfer (DBFOT) basis.

The project involved the rehabilitation, upgrading and widening of the existing two-lane carriageway to four-lane standards with bypasses and the construction of flyovers, bridges, road intersections, railway overbridges as well as the operation and maintenance of two toll plazas.

Chief executive officer and managing director Liew Hau Seng said the accomplishments and timely completion of the project reaffirmed the group's capabilities and track record as a builder of choice and high-performance concessionaire.

"Apart from providing earnings visibility and serving as a long-term growth driver that the completion of the Solapur-Bijapur tollway accords the group, we are proud to have played a role in expediting the improvement of infrastructure in the states of Maharashtra and Karnataka.

"With a stable of prominent projects completed in India in recent years, IJM India has emerged as a premier DBFOT specialist and have set standards for road construction in the country's infrastructure sector," he said/

IJM India currently operates three tolled highways in India — the Solapur-Bijapur tollway, 68-kilometre Chilkaluripet-Vijayawada tollway and 19.8 kilometre-Dewas Bypass tollway.

Since 1998, IJM India has delivered several major road projects totalling more than 1,500 route kilometres along with 20 kilometres of urban rail projects as well as 20.20 million sq ft of prime residential and commercial development in India.
https://www.nst.com.my/business/2022...indian-highway

Last edited by nazrey; May 4, 2022 at 9:35 AM.
Reply With Quote
     
     
  #220  
Old Posted May 4, 2022, 9:38 AM
nazrey's Avatar
nazrey nazrey is offline
Moderator
 
Join Date: Mar 2004
Posts: 2,193
ASEAN 2022
Part 36: Thailand | CIMB Group Holdings Bhd
CIMB Thai's January-March 2022 profit soars 211% y-o-y on better cost control
Syafiqah Salim April 21, 2022 16:30 pm +08
Quote:
KUALA LUMPUR (April 21): CIMB Group Holdings Bhd's 94.83%-owned subsidiary CIMB Thai Bank PCL saw its net profit jump 719.7 million baht or 211% year-on-year (y-o-y) for the three months ended March 31, 2022 (3MFY22) to 1.06 billion baht.

The improvement came mainly due to a better cost control, with a 14% drop in operating expenses and a 64% decline in expected credit losses, CIMB Thai said in a statement. This improved the cost-to-income ratio to 51.4% in 3MFY22 compared with 59.3% in 3MFY21.

This came despite a marginal drop of 0.8% in operating income to 3.48 billion baht from 3.51 million baht a year earlier, due to a 152.9 million baht or 6.2% drop in net interest income because of lower interest income on loans and hire purchase business, as well as a drop in net fee and service income from higher fee and service expenses. This crimped the bank's net interest margin over earning assets to 2.8% in 3MFY22 from 3.1% in 3MFY21.

The decline was partially offset by an increase in other operating income by 153.1 million baht or 24.1% due to an increase in gains on financial instruments measured at fair value through profit or loss, and other income, according to CIMB Thai's president and chief executive officer Paul Wong Chee Kin.

But CIMB Thai Group made considerable progress in its overall performance despite the uncertain recovery surrounding the Covid-19 pandemic, driven by the group's cost discipline and improved asset quality, Wong said.

"We also saw positive growth momentum in 1Q22. CIMB Thai's 2022 strategy is to remain focused on driving sustainable financial solutions and personalised services through its key business drivers — consumer banking, wholesale banking and treasury and markets, while leveraging its ASEAN network and digital platforms," Wong added.

As at March 31, 2022, CIMB Thai Group's total gross loans — inclusive of loans guaranteed by other banks and loans to financial institutions — stood at 215 billion baht, up 1.5% from Dec 31, 2021.

"Deposits (inclusive of bills of exchange, debentures and selected structured deposit products) stood at 252.5 billion baht, an increase of 5.4% from 239.5 billion baht as at end of December 2021. The modified loan-to-deposit ratio decreased to 85.2% from 88.5 % as at Dec 31, 2021.

"The gross non-performing loans (NPLs) stood at 8.4 billion baht, with a higher gross NPL ratio of 3.8% from 3.7% as at Dec 31, 2021 due to the sale of NPLs in 2021. CIMB Thai continues to exercise high credit risk underwriting standards and risk management policies. The bank will also continue to focus on improving productivity, monitoring collection and managing all accounts closely and effectively," Wong said.

Meanwhile, CIMB Thai Group's loan loss coverage ratio as at March 31, 2022 grew to 112% from 117.5% at the end of December 2021, while total allowance for expected credit losses stood at 8.6 billion baht, 1.5 billion baht over the Bank of Thailand's reserve requirements.

The bank's total consolidated capital funds as at March 31, 2022 stood at 53.6 billion baht. Its BIS ratio stood at 21.9%, of which 15.9% comprised Tier-1-capital.

At the time of writing on Thursday (April 21), CIMB shares were up 10 sen or 1.96% to RM5.19, giving the bank a market capitalisation of RM53.05 billion.
https://www.theedgemarkets.com/artic...r-cost-control
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > Asia-Pacific > Malaysia
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 12:19 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2022, vBulletin Solutions, Inc.