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  #301  
Old Posted Sep 4, 2022, 12:23 AM
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Part 71: Myanmar | Enra Group Bhd
Enra secures contract worth US$4.4m from Gulf Petroleum Myanmar
Syafiqah Salim September 01, 2022 20:01 pm +08

Quote:
KUALA LUMPUR (Sept 1): Enra Group Bhd has secured a contract worth US$4.39 million for the provision of condensate storage, offloading facilities and services for Yetagun offshore operations in Myanmar.

In a bourse filing, Enra said its subsidiary ENRA SPM Sdn Bhd had on Thursday (Sept 1) accepted a letter of award from Gulf Petroleum Myanmar.

The contract is effective Aug 30, and the charter period will be effective upon commissioning of the system and shall continue for a period of six months, said Enra.

It said the contract is expected to contribute positively to the group’s earnings and net assets per share for the financial year ending March 31, 2023.

Enra’s share price settled down one sen or 1.41% at 70 sen on Thursday (Sept 1), valuing the group at RM95.35 million.
https://www.theedgemarkets.com/artic...roleum-myanmar
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  #302  
Old Posted Sep 18, 2022, 10:53 PM
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Part 73: Suriname | Petronas
Petronas announces oil discovery in Suriname
Bernama September 09, 2022 13:41 pm +08
Quote:
KUALA LUMPUR (Sept 9): Petronas Suriname E&P BV (PSEPBV) has announced its first oil discovery at the Baja-1 well in Block 53, offshore Suriname.

The well, located about 189km offshore in a water depth of 1,140 metres, was successfully drilled to a depth of 5,290 metres.

The company also encountered light oil in the Campanian-aged sedimentary sequence, adding that a post-drill evaluation is ongoing.

“The discovery at Baja-1 well is an important milestone for Petronas (Petroliam Nasional Bhd) in unlocking deepwater hydrocarbon resources from our exploration ventures.

“We are encouraged by this achievement, and will remain focused on growing our international portfolio, especially in the Americas,” said Petronas exploration vice-president Mohd Redhani Abdul Rahman in a statement.

He said that the achievement is a testament to the combined expertise and experience of the joint-venture partners.

PSEPBV holds a 30% participating interest in the block, which is operated by APA Suriname Corporation LDC with a 45% stake, while CEPSA Suriname SL holds the remaining 25%.

PSEPBV also holds 100% interest and operatorship of Block 48, and is in a 50:50 partnership with ExxonMobil Exploration and Production Suriname BV in Block 52 within the prospective Suriname-Guyana basin.
https://www.theedgemarkets.com/artic...overy-suriname
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  #303  
Old Posted Sep 18, 2022, 10:55 PM
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Part 72: Thailand | Ranhill Utilities Bhd
Ranhill Utilities unit bags RM43 mil job from Thailand's PTTEP
Chester Tay September 14, 2022 20:55 pm +08
Quote:
KUALA LUMPUR (Sept 14): Ranhill Utilities Bhd's indirect 49%-owned unit Perunding Ranhill Worley Sdn Bhd (PRW) has secured a RM43 million contract from PTTEP HK Offshore Ltd, a wholly owned subsidiary of Thailand's PTT Exploration and Production PCL (PTTEP), to provide front-end engineering and design services for offshore facilities of the SK10B Lang Lebah development project offshore Sarawak.

PRW is 49%-owned by Ranhill Worley Sdn Bhd (RWSB), which is a 51%-owned subsidiary of Ranhill Utilities.

The duration of work is eight months, commencing on July 22.

In a Bursa Malaysia filing on Wednesday (Sept 14), Ranhill Utilities said the letter of award was received by PRW on July 19.

"The contract and the scope of works under the contract for the project will be undertaken by RWSB. The company (Ranhill Utilities) subsequently obtained the approval to release the announcement regarding the award from PTTEP on Sept 12," it added.

Ranhill Utilities said it is anticipated that even with the most aggressive projections of renewable energy transition, there will still be a need for hydrocarbon to be part of the energy mix.

"Therefore, moving forward, low carbon energy source such as gas and carbon capture will be a key part of global transition to the net zero carbon emissions," it said.

The group said it is committed to working together with its customers in navigating their energy transition process to decarbonise the extraction of hydrocarbon.

"This award reinforces PRW and RWSB's position as a leading provider of engineering and design services of oil and gas facilities in delivering sustainable tomorrow," it added.

Ranhill Utilities chairman and chief executive Tan Sri Hamdan Mohamad is the largest shareholder of Ranhill Utilities with a 34.26% stake, followed by United Overseas Bank Ltd at 9.07% and the Johor state government with 9.05%. Hamdan is also a substantial shareholder of PRW.

Ranhill Utilities' share price closed half a sen or 1.23% lower at 40 sen on Wednesday, giving it a market capitalisation of RM518.37 million.
https://www.theedgemarkets.com/artic...hailands-pttep
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  #304  
Old Posted Sep 18, 2022, 10:57 PM
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Part 73: Indonesia | K-One Technology Bhd
K-One to become majority shareholder of Indonesian cloud computing solutions provider
Izzul Ikram September 15, 2022 19:25 pm +08
Quote:
KUALA LUMPUR (Sept 15): ACE Market-listed K-One Technology Bhd is set to become a majority shareholder of Indonesian-based cloud computing solutions provider PT Gasia Pasific Indo, by raising its stake in the joint venture (JV) to 51% from 15%.

In a Bursa Malaysia filing, the technology solutions provider said its wholly owned subsidiary G-AsiaPacific Sdn Bhd (GAP) has entered into a term sheet with PT Gapura Manajemen Servis (GMS) to purchase 36% equity interest in Gasia Pasific Indo for RM4.6 million.

K-One said the price consideration is determined by the price-to-sales ratio of 2.3 based on Gasia Pasific Indo's audited financial statements for the financial year ended Dec 31, 2021.

"The purchase consideration was arrived at after arm's length negotiations between the purchaser and the vendor and was determined with reference to the future prospects and potential contributions of Gasia Pasific Indo," it said, adding that the consideration is to be financed via internally generated funds.

In 2019, GAP subscribed to a 15% equity interest in Gasia Pasific Indo to form the JV with GMS to promote cloud computing solutions in Indonesia. GMS held the remaining 85% stake in the JV.

K-One said the move to up its stake in Gasia Pasific Indo to 51% is in line with its ongoing cloud business expansion plan in Indonesia, in view of Indonesia's cloud market being one of the fastest growing in the Asia-Pacific region.

"In addition, the multinational cloud partners of GAP, namely AWS, Google, Microsoft and Alibaba, have big footprints in Indonesia for good reasons. In this regard, the K-One Group should ride with these cloud giants to take its share of the burgeoning Indonesian cloud market.

"The conversion of Gasia Pasific Indo from an investment to subsidiary will enable the K-One Group to consolidate the top and bottom lines of Gasia Pasific Indo into its holding financial results ultimately, thus realising the potential benefits of the high cloud growth in Indonesia," the group added.

K-One reasoned that as the group and GMS would hold "meaningful and about equal stakes" in Gasia Pasific Indo, they would both be equally incentivised to charter the JV's next phase of growth with each party leveraging their respective expertise to the best of their abilities.

"GMS and its shareholders will focus on developing the business through their wide network while GAP will provide the technical and operational support to secure the business," it added.

Shares in K-One closed down half a sen or 4.55% to 10.5 sen on Thursday (Sept 15), giving the group a market capitalisation of RM87.36 million.
https://www.theedgemarkets.com/artic...tions-provider
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  #305  
Old Posted Sep 18, 2022, 10:59 PM
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Part 74: Indonesia/Philippines | K-One Technology Bhd
AirAsia to enlarge Indonesian and Philippine ops, says Fernandes
Bernama September 15, 2022 15:54 pm +08
Quote:
SINGAPORE (Sept 15): Low-cost airline AirAsia plans to enlarge its Indonesian and Philippine operations beyond their pre-pandemic levels by the first quarter of next year, riding on better tourism and connectivity prospects.

Capital A Bhd chief executive officer Tan Sri Tony Fernandes said the huge tourism potential and economic performances are among drivers for AirAsia’s growth in both countries over the next five years.

Although the airline has a positive outlook for Indonesia and the Philippines, it will not cut its fleet operations in Malaysia and Thailand.

“We need the aircraft in Malaysia and Thailand; it is just that Indonesia and the Philippines are really growing very well and we want to grow them to a bigger size,” he said at an AirAsia’s event in Changi's Terminal 4 to celebrate the resumption of operations.

Currently, AirAsia has a fleet size of 205 aircraft and plans to increase that to 300 planes over the next five years. It will begin to take delivery of 362 Airbus 321neos it has ordered, starting 2024.

On its cargo operations, he said AirAsia’s logistics arm Teleport is expected to contribute significantly to the group’s growth in the next five years, with 50 freighters in service. The group is resuming its order for four A321 freighters, with the first delivery expected in December 2022, which it had put on hold earlier due to the pandemic.

“There is a real opportunity here, similar to what we did for passenger services. We basically opened up a whole new market — 60% of our routes today are new. We can do exactly the same for logistics and we think cargo is going to be a very large part of our life in Changi, and also around our network,” he said.
https://www.theedgemarkets.com/artic...says-fernandes
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  #306  
Old Posted Sep 18, 2022, 11:01 PM
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Part 75: Singapore | Berjaya Corp Bhd
BCorp's Singapore medical services unit to undertake share split ahead of IPO
Priyatharisiny Vasu September 12, 2022 19:55 pm +08
Quote:
KUALA LUMPUR (Sept 12): Berjaya Corp Bhd (BCorp) has said its subsidiary, Singapore Institute of Advanced Medicine Holdings Pte Ltd (SIAMH), will undertake a share split ahead of its listing on the Catalist Board of the Singapore Exchange.

The share split will involve SIAMH's existing shares and convertible preference shares (CPS), said BCorp, adding that the basis of the subdivision can only be finalised when the issue price for the initial public offering (IPO) price is determined by way of an independent book-building exercise.

"Assuming a minimum IPO price of 20 cents (65 sen) and maximum gross proceeds of S$30 million to be raised under the proposed listing, the proposed share split will involve the subdivision of every one existing SIAMH share and one existing CPS into three subdivided SIAMH shares and three subdivided CPS in SIAMH respectively," said BCorp in a bourse filing.

BCorp, which currently owns a 51.62% stake of SIAMH, said the subsidiary will also undertake conversion of its CPS and other existing convertible securities.

After the completion of the share split and conversion of the convertible securities, SIAMH will then undertake the IPO exercise.

The exact number of new SIAMH shares to be issued is not determined yet, said BCorp.

Assuming a minimum IPO price of 20 cents per share, the group expects maximum gross proceeds of S$30 million.

Of the proceeds, S$5 million will be used for the acquisitions of new equipment and facilities and upgrading of systems and other facilities in the SIAMH Group's medical clinics, said BCorp.

The remaining proceeds will be used for the expansion of professional teams and services, working capital, repayment of bank borrowings and other listing expenses.

SIAMH is expected to be an associated company of BCorp upon completion of the listing.

SIAMH, which was incorporated in November 2011, is principally involved in the provision of medical diagnostics and treatments as well as radiation therapy and medical oncology services.
https://www.theedgemarkets.com/artic...plit-ahead-ipo
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  #307  
Old Posted Oct 20, 2022, 1:32 AM
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Part 76: Thailand | MISC Bhd
MISC-owned AET signs MOU with Thai national energy company to build zero-emission oil tankers
Shazni Ong September 29, 2022 18:30 pm +08



AET president and chief executive officer Capt Rajalingam Subramaniam (right) and PTT international trading business unit senior executive vice president Disathat Panyarachun (left) at a memorandum of understanding signing ceremony held on Sept 28, 2022.

Quote:
KUALA LUMPUR (Sept 29): AET, the Singapore-based maritime transport operator wholly owned by MISC Bhd, has signed a memorandum of understanding (MOU) with Thailand's national energy company PTT for the construction of two Aframax oil tankers that will be powered by green ammonia.

"AET will select a suitable shipyard and the two zero-emission dual-fuel tankers are to be delivered to PTT for long-term charters in [the fourth quarter of 2025] and [the first quarter of 2026]," the two companies said in a joint statement.

"This MOU sets another clear signal of PTT's and AET's commitment to reducing greenhouse gas (GHG) emissions from international shipping as energy efficiency improvements alone will not be sufficient."

AET president and chief executive officer Capt Rajalingam Subramaniam said the company's collaboration with PTT also goes beyond these first two net-zero green ammonia powered Aframaxes.

"As like-minded partners, this MOU provides an avenue to work together on the design, safety and operational aspects as well as reskilling of mariners as part of the deliverables prior to the potential investment in this innovative project to meet the 2050 environmental agenda earlier than later.

"Providing the much-needed boost to create a green ammonia corridor in Southeast Asia would be another desired outcome of this MOU.

"For us, this collaboration with PTT will be complementary to the Castor Initiative, a multinational coalition championed by MISC and its Castor partners committed to making zero emissions in shipping a reality," added Rajalingam, who is also MISC's group chief operating officer.

PTT's international trading business unit senior executive vice president, Disathat Panyarachun, said the partnership underscores the great importance the company places on the development towards a low carbon society and investment in clean energy, as well as its long-term strategy to achieve carbon neutrality and net zero GHG emissions.

"PTT is very pleased to sign the MOU with AET, a member of the MISC Group, for our study to develop the first net-zero emission Aframaxes as we are both aligned that the global shipping community must act now and we see green ammonia powered vessels as one of the pathways to achieve the decarbonisation goals," he said.

MISC's share price settled 10 sen or 1.47% higher at RM6.90 on Thursday (Sept 29), bringing a market capitalisation of RM30.8 billion.
https://www.theedgemarkets.com/artic...on-oil-tankers
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  #308  
Old Posted Oct 20, 2022, 1:36 AM
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Part 78: Thailand | Malaysian Genomics Resource Centre Bhd (MGRC)
MGRC inks collaborations to grow base in Thailand
Surin Murugiah September 23, 2022 13:47 pm +08

Quote:
KUALA LUMPUR (Sept 23): Malaysian Genomics Resource Centre Bhd (MGRC) has inked a series of collaborations to grow its customer base in Thailand, as well as explore opportunities for research and development of new products and services.

In a bourse filing on Friday (Sept 23), the genomics and biopharmaceutical specialist said it had signed a supply and collaboration agreement with Acquest Healthcare Stem Cell Research and Development Co Ltd to produce CAR T-cells for supply to Acquest’s customers.

It said Acquest is a provider of various cell therapies to hospitals, specialist doctors, and patients in Thailand, operating a state-of-the-art clinical laboratory, and is also the largest privately-owned specialty human cell culturing facility in the country.

MGRC also signed a supply and collaboration agreement with Salus Holdings Co Ltd to supply biopharmaceutical and genomics products and services to Salus’ customers.

Salus provides wellness and health screening using science and technology for early disease detection, managing programmes for lifestyle intervention based in Bangkok, Thailand.

Lastly, MGRC signed a letter of intent with Marine Group Co Ltd and Salus on collaborative research in the use of genetic screening tests and formulated cosmetic products containing certain cell therapy ingredients for the regeneration of skin and hair of patients.

MGRC said Marine Group is an aesthetic and wellness provider, with a network of over 42 centres under the brands of Slim Up, Skin Doctors, and Biocell.

MGRC chief executive officer Sasha Nordin said the collaborations are part of its strategy of growing its customer base, and increasing presence overseas through working with business partners with an established presence in their respective market segments.

At the midday break on Friday, MGRC settled 4.2% or three sen higher at 74.5 sen, with 5.64 million shares done.
https://www.theedgemarkets.com/artic...-base-thailand
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  #309  
Old Posted Oct 20, 2022, 1:38 AM
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Part 79: Thailand | T7 Global Bhd
T7 Global rises after bagging contracts worth RM400m in Thailand
Surin Murugiah September 20, 2022 10:21 am +08
Quote:
KUALA LUMPUR (Sept 20): Shares in T7 Global Bhd rose 1.56% in the mid-morning on Tuesday (Sept 20) after the company secured contracts worth about RM400 million in Thailand.

At 9.53am, T7 had added half a sen to 32.5 sen, with 413,800 shares traded.

In a bourse filing on Monday, the group said its unit Tanjung Offshore Services Sdn Bhd had inked charter and operation and maintenance contracts with Busrakham G11 Ltd for the provision of leasing, operations and maintenance of a mobile offshore production unit in the Nong Yao Field, Southern Gulf of Thailand.

T7 said the duration of the contract is fve years, with an extension of two years.

The group said the contract will contribute positively to its earnings for the financial periods during the duration of the project.
https://www.theedgemarkets.com/artic...m400m-thailand
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  #310  
Old Posted Oct 20, 2022, 1:55 AM
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Part 80: Indonesia | RHB Banking Group
RHB aims to become top 10 best brokerage firm in Indonesia by 2024
Bernama September 27, 2022 21:05 pm +08

Quote:
KUALA LUMPUR (Sept 27): RHB Banking Group, through PT RHB Sekuritas Indonesia (PT RHBSI), a subsidiary of RHB Investment Bank, aims to become a top 10 best brokerage firm in Indonesia by 2024.

In a statement on Tuesday, the group said this is part of RHB's new three-year Together We Progress 2024 strategy of building an integrated overseas business, in which Indonesia will be one of its key markets within the Asean region.

"We have enhanced the resources and rebuilt our capabilities in Indonesia, with the aim of driving our capital markets and advisory business in the country," said RHB group managing director and group chief executive officer Mohd Rashid Mohamad.

He said this is evident through its recent hiring of senior bankers with which it has strengthened the management bench and capital markets team in Indonesia.

"We will have better collaboration between local and regional experts to bring to the market innovative investment products and services that will meet clients' needs," Mohd Rashid said.

He also said PT RHBSI will continue to grow its retail equities business through differentiated product offerings and improved customer experience to further strengthen its regional institutional equities business supported by the group's strong regional research capability.

"PT RHBSI is committed to growing our market share within the equity and capital markets landscape in Indonesia and will continue to play an important role in supporting the growth of the Indonesian equity and capital markets industry," he said.
https://www.theedgemarkets.com/artic...indonesia-2024
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  #311  
Old Posted Oct 20, 2022, 2:44 PM
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Part 74: Brazil | Yinson Holdings Bhd
Yinson secures US$720 mil loan facility to finance FPSO Maria Quitéria project
Priyatharisiny Vasu October 06, 2022 19:33 pm +08
Quote:
KUALA LUMPUR (Oct 6): Yinson Holdings Bhd via its indirect unit has secured a US$720 million (RM3.33 billion) syndicated loan facility for the FPSO Maria Quitéria project.

In a statement on Thursday, Yinson said the six-year limited recourse loan will be used to support the ongoing construction of the FPSO, which was awarded to Yinson by Petróleo Brasileiro SA (Petrobras) in November 2021.

Yinson entered into the loan arrangement through its indirect wholly-owned Netherlands-based subsidiary Yinson Bergenia Production BV with mandated lead arrangers, underwriters and bookrunners consisting of ING Bank NV, Singapore Branch, Maybank Group, Natixis Corporate & Investment Banking, Standard Chartered Bank (Singapore) Ltd and United Overseas Bank Ltd.

The agreement was also signed by the Hongkong and Shanghai Banking Corp Ltd and JP Morgan who are participating as mandated lead arrangers.

Yinson CEO of offshore production Flemming Grønnegaard said FPSO Maria Quitéria is the second asset that Yinson is delivering to Petrobras.

“(Work on) the first asset has been able to meet the project schedule thus far and is on track for first oil in early 2023, despite the significant challenges brought about by the pandemic,” he added.

Yinson group chief strategy officer Daniel Bong said the FPSO financing space has been very competitive, as many postponed oil and gas developments have resumed post pandemic and investor appetites have evolved with energy transition agendas.

FPSO Maria Quitéria is destined for the Jubarte field for the Parque das Baleias Integrated Project, located in the northern part of the Campos Basin (offshore Brazil).

Shares of Yinson settled 0.46% lower at RM2.15, giving the group a market capitalisation of RM6.56 billion.
https://www.theedgemarkets.com/artic...téria-project
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  #312  
Old Posted Oct 20, 2022, 2:53 PM
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Part 75: UK/Australia | Gamuda Land
Gamuda Land unveils West Hampstead Central in UK and The Canopy on Normanby in Australia, shares plans to further expand its international portfolio
Hannah Rafee & Sivaa Tangai Raju September 30, 2022 19:25 pm +08



West Hampstead Central fuses local heritage with contemporary design which focuses on sustainability, where natural light is maximised to each apartment, and thoughtfully planned green spaces for the residents.



The Canopy on Normanby will feature a host of green building elements as well as incorporate biophilic designs that will connect residents with nature.

Quote:
KUALA LUMPUR (Sept 30): Gamuda Land launched its latest projects — West Hampstead Central in London, the UK and The Canopy on Normanby in Melbourne, Australia — on Friday (Sept 30). This is the first step to expand its international portfolio. The developer also added that it will seek to develop up to five new overseas projects per year starting from 2023 in the UK, Australia, Singapore and Vietnam.

Gamuda Land chief executive officer Ngan Chee Meng said at the event launch and press conference: "Expanding internationally is consistent with Gamuda Land's five-year business plan. We will be focusing on launching smaller projects [abroad] in bigger cities.

"It is part of our strategy to achieve RM8 billion of annual sales in the next five years," he said, adding that the group will maintain its pursuit of sustainability, and "getting the place right".

Ngan added: "We will be diversifying our markets where we have already established a strong presence such as Australia, Vietnam, and also Singapore and the UK. These are markets that Malaysians, in particular, are familiar with."

According to him, mature markets such as Australia and the UK present a host of opportunities for the company to apply and showcase its mindful planning and sustainable expertise.
https://www.theedgemarkets.com/artic...a-shares-plans
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  #313  
Old Posted Oct 20, 2022, 2:57 PM
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Part 76: UK | Sime Darby Property Bhd (40%), SP Setia Bhd (40%) and the Employees Provident Fund (EPF) (20%)
Battersea Power Station opening ceremony officiated by Agong
Lee Weng Khuen October 13, 2022 09:05 am +08



Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah officiating the opening ceremony of the Battersea Power Station, accompanied by Raja Permaisuri Agong Tunku Hajah Azizah Aminah Maimunah Iskandariah and other distinguished guests.

Quote:
LONDON (October 13): The most-anticipated opening of Grade II* listed Battersea Power Station will take place this Friday (Oct 14), marking the rebirth of the iconic building in London, the UK, nearly 40 years after the lights were switched off.

The Power Station is Phase 2 of the development that houses 254 apartments and more than 100 shops, restaurants and cafes. Some 500,000 sq ft of its office space will be home to Apple campus in London, while another 25,000 sq ft will be occupied by SharkNinjia.

A consortium of Sime Darby Property Bhd (40%), SP Setia Bhd (40%) and the Employees Provident Fund (EPF) (20%) bought the Battersea Power Station site in September 2012. The development is managed by Battersea Power Station Development Company (BPSDC).

In March 2019, the EPF and Permodalan Nasional Bhd acquired Power Station’s commercial assets for £1.58 billion (RM8.197 billion).

The opening ceremony on Wednesday (Oct 12) was officiated by the Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah.

Besides the Power Station, a new pedestrianised high street called Electric Boulevard – which is part of Phase 3 development – will also be open to the public this Friday.

In conjunction with the opening ceremony, a five-day “Festival of Power” will run from Oct 14 to 16 and Oct 22 to 23, with live performances, family friendly activities, installations and more.

£5 billion GDV has been realised

Spanning across 42 acres, Battersea Power Station has a gross development value (GDV) of £9 billion (RM45.6 billion), with the overall project divided into seven phases. At a media briefing, BPSDC chairman Datuk Jagan Sabapathy said 60% of the site has been developed, with the remaining 40% within at least the next 10 years. So far, £5 billion worth of GDV has been realised.

With the opening of the Battersea Power Station underground station on the Northern Line extension, the site has been transformed into a new “15-minute” live, work, play neighbourhood with community at its core.

"Infrastructure is around us for this project, The Northern Line tube station is a big game changer for the whole area. Now, we have a few more phases, there will be greater value creation. The completion of this building adds a significant value to us and the surrounding areas. I believe Power Station will become a must-go destination in London,” Jagan explained.

The target for the whole development is to have a balanced mix of space for commercial and residential, said BPSDC CEO Simon Murphy.

“When everything is done in 2032, it would be roughly 50:50 [between commercial and residential]. We can choose based on what the market wants, but we don't want to be dominated by one asset class.”

Currently, the take-up rate for the commercial asset is 95%, with 100% for offices, said Murphy.

"For retail F&B, by the time we open on Friday, it would be north of 90%."

He went on to share that there has been a 50% increase in capital appreciation since the first launch of its residential project.

“If you had bought the Phase 1 project in 2017, your capital gain growth would have been at least 50%.”

Phase 1, dubbed Circus West Village, opened in 2017 after construction work started in July 2013.

Over £600 million property sales in past 18 months

It is worth noting is that the majority buyers of the residential units are UK nationals.

“We have very strong local supporters,” said Jagan, noting that more than £600 million (RM3.12 billion) in sales have been recorded in the past 18 months.

In conclusion, he said: “Through the enduring strength of the Malaysian-UK relationship, the extensive experience of the shareholders, and the unrelenting ambition of the Malaysian people to deliver excellence across the globe, we have reached this tremendous milestone to bring this London icon back to life.

“Not only has a new destination been created from reviving a disused power station but a thriving community has already been established since opening the first phase of the project, Circus West Village, that we are committed to nurturing for years to come.” he added.

To recap, Battersea Power Station started to supply energy in 1935 before being decommissioned in 1983. At its peak, it supplied a fifth of London’s electricity.
https://www.theedgemarkets.com/artic...ficiated-agong
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  #314  
Old Posted Oct 20, 2022, 2:59 PM
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  #315  
Old Posted Oct 20, 2022, 3:09 PM
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Part 77: Germany | Petronas
Motor racing: Petronas staying with Mercedes F1 team beyond 2026
Ebrahim Harris, Manasi Pathak & Alan Baldwin/Reuters September 28, 2022 23:55 pm +08


Quote:
KUALA LUMPUR/BENGALURU/LONDON (Sept 28): Malaysian oil company Petroliam Nasional Bhd (Petronas) will remain long-term title sponsor and technical partner of the Mercedes Formula One team, after announcing on Wednesday a multi-year contract extension from 2026.

Mercedes has won the last eight constructors' titles and has been with Petronas since it returned to the sport with its own team in 2010.

Seven-times world champion Lewis Hamilton and fellow-Briton George Russell are yet to win a race after 16 rounds of this season, however.

"Today, we are doing something a little bit unusual — announcing a partnership that will begin in four years' time," said Mercedes team principal Toto Wolff.

"This sends an important message: Our team and Petronas are no longer just partners, we are family, and we will be one team for many more years to come."

Formula One's engine rules are changing in 2026, with significantly increased electrical power and a commitment to 100% sustainable fuels.

Petronas president and group CEO Tengku Muhammad Taufik said the company looks forward to the next chapter, with a focus on providing advanced sustainable fuel for Mercedes and customer teams.

Wolff, Hamilton and Russell were in Kuala Lumpur before travelling to Singapore for this weekend's grand prix at the Marina Bay Street Circuit.

"I feel like this has been a year of growth. And I think it's been empowering to have an experience like this," Hamilton told reporters.

"There [are] people on our team that have joined, for example, in the seven or eight years of dominance that we had and have only known winning. And so, this has been a good experience for all of us."

Mercedes is third in the championship, 35 points behind Ferrari but a massive 174 adrift of runaway leader Red Bull.

"I think if we can achieve that second place in the constructors' championship, there'll be a huge boost for all of us back at the factory, and also probably quite a huge blow to our rivals in Ferrari," said Russell.

"Psychologically, it can be quite important, but nevertheless to see that improvement we've made through the season... I think it's looking really good, going into next season."

Ferrari started the season strongly, with Charles Leclerc winning two of the first three races and finishing second in the other, but have made driver and strategy errors, as well as suffering reliability issues.

Russell has been on the podium in four of the last five races.
https://www.theedgemarkets.com/artic...am-beyond-2026
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  #316  
Old Posted Oct 21, 2022, 1:22 AM
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ASEAN 2022
Part 81: Philippines | Malayan Banking Bhd (Maybank)
Maybank’s Etiqa to form insurance distribution partnership with Philippine Bank of Communications
Hailey Chung September 28, 2022 16:23 pm +08
Quote:
KUALA LUMPUR (Sept 28): Malayan Banking Bhd (Maybank)’s indirect 68.3%-owned subsidiary Etiqa Life and General Assurance Philippines Inc (Etiqa Philippines) will form an insurance distribution partnership with the Philippine Bank of Communications (PBCOM) under an exclusive partnership that will allow PBCOM to distribute Etiqa’s life and non-life insurance products to PBCOM clients.

“PBCOM to enter into an insurance distribution partnership with Etiqa Philippines, subject to regulatory approvals,” PBCOM said in a filing with The Philippine Stock Exchange on Wednesday (Sept 28).

PBCOM said the proposed partnership agreement with Etiqa Philippines will involve two phases, comprising a six-month pilot phase followed by a 15-year regular phase.

According to PBCOM, the regular phase will commence upon completion of the pilot phase.

“Etiqa Philippines provides a wide range of group life and general insurance, group medical benefits, individual life and non-life, and variable products that cater to various protection, savings and investment needs across all market segments.

“It is also one of the leading providers of group health insurance, with over 1,600 accredited hospitals and clinics nationwide, 30,000 doctors and a 24/7 in-house call centre,” PBCOM said.

Founded in 1939, PBCOM said the bank has its roots in Manila’s Binondo district and that the bank now operates 95 branches across the Philippines.

According to Etiqa’s website, Maybank via its 100%-owned subsidiary Etiqa International Holdings Sdn Bhd owns a 68.3% stake in Etiqa Philippines.

“We offer a full range of life and general conventional insurance products, as well as family and general takaful plans across multiple distribution channels, through our presence in Malaysia, Singapore, the Philippines, Indonesia and Cambodia,” Etiqa said.

At Bursa Malaysia on Wednesday, Maybank’s share price dipped one sen or 0.12% at 3:43pm to RM8.56, which gives Maybank a market capitalisation of about RM102.55 billion.

Maybank’s latest-reported number of outstanding shares stood at 11.98 billion, according to Maybank’s Bursa filing on Tuesday (Sept 27).
https://www.theedgemarkets.com/artic...communications
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Old Posted Oct 21, 2022, 1:27 AM
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WORLD 2022
Part 78: UK | Atlan Holdings Bhd
Atlan buys hotel and asset management company in UK for RM58 mil
Syafiqah Salim October 20, 2022 22:59 pm +08
Quote:
KUALA LUMPUR (Oct 20): Atlan Holdings Bhd is buying a property in the UK and its asset management company for a total combined value of RM58.83 million.

Atlan said in an announcement on Bursa that it is purchasing The Cornwall Hotel Spa & Estate — a four star hotel located at St Austell in Cornwall — from Belle Isle Property Ltd (BIP) for £10.8 million (equivalent to RM57.5 million), to diversify into GBP-based assets and generate income from foreign-based assets, after the cessation of its hospitality operations in Kuala Lumpur due to the Covid-19 pandemic in 2020.

Additionally, Atlan is also buying all of BIP’s existing assets and liabilities related to the operations with an aggregate net asset value of RM107,706, to minimise any disruptions to hotel operations, as well as costs required to furnish the hotel anew.

The acquisition of the hotel and its assets and liabilities is deemed to be related party transactions, in view of the interests of Datuk Seri Adam Sani Abdullah, Atlan’s executive chairman and major shareholder who is also deemed interested in BIP by virtue of his interest in Chesterwood Ventures Ltd.

Further, Atlan is also acquiring the management company that has been managing The Cornwall Hotel since 2014. Atlan inked an agreement with Mark Trevor Rudrum to buy Belle Isle Hotels (Cornwall) Management Ltd (BIM) for RM1.33 million.

Both acquisition of the hotel, as well as the management company, will be funded via internally-generated funds and/or bank borrowings, said the company.

The recovery of the hospitality sector in the UK, arising from the relaxation of lockdowns and the reopening of borders for international travel, presents an opportune time for Atlan to enter the hospitality sector in the UK.

“Both domestic and international travel is expected to pick up and is expected to benefit the hotel’s occupancy rates and revenue per available room. However, the management of Atlan expects recovery in the near term to be slow, due to, among others, rising inflation and cost of living,” it said in a bourse filing.

Nevertheless, Atlan believes that the proposed acquisitions will benefit the group over the longer term and contribute positively to the group’s earnings in future.

The proposed acquisitions are expected to be completed in the second quarter of 2023.

Atlan’s shares were up six sen or 2.07% at RM2.96 on Thursday (Oct 20), giving it a market capitalisation of RM750.81 million.
https://www.theedgemarkets.com/artic...ny-uk-rm58-mil
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Old Posted Oct 21, 2022, 1:29 AM
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Part 79: Nigeria | Yinson Holdings Bhd
Yinson gets further one-month extension of contract for Adoon FPSO
Syafiqah Salim October 20, 2022 23:55 pm +08
Quote:
KUALA LUMPUR (Oct 20): Yinson Holdings Bhd has received another one-month interim extension of contract, worth RM16.04 million, for charter of its Adoon floating storage and offloading vessel (FPSO).

The oil and gas service provider said its indirect unit Adoon Pte Ltd and Addax Petroleum Development (Nigeria) Ltd have agreed to extend the contract from Oct 17 to Nov 16. Addax is a subsidiary of China Petroleum & Chemical Corporation (Sinopec).

Save for the extension of tenure, the terms under the contract extension remain unchanged, Yinson said in a bourse filing.

The Adoon FPSO is stationed at the Antan field, off Nigeria.

Yinson posted a net profit of RM263 million for the six-month period ended July 31, higher than the RM238 million in the previous corresponding period. Six-month revenue also rose to RM2.625 billion, from RM2.05 billion.

Yinson shares have declined 17.11% year-to-date. On Thursday (Oct 20), its shares rose 1.87% to RM2.18, valuing the group at RM6.65 billion.
https://www.theedgemarkets.com/artic...act-adoon-fpso
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Old Posted Oct 21, 2022, 1:30 AM
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Part 82: Vietnam| Malayan Banking Bhd (Maybank)
K-One to conduct cloud computing business in Vietnam
Syafiqah Salim October 20, 2022 18:20 pm +08
Quote:
KUALA LUMPUR (Oct 20): K-One Technology Bhd is planning to form a joint venture (JV) company in Vietnam to conduct cloud computing business.

K-One’s wholly-owned unit G-AsiaPacific Sdn Bhd (GAP) inked an agreement with Vietnet Distribution Joint Stock Company (Vietnet) on Thursday (Oct 20), according to a bourse filing.

The proposed name for the JV company is G-AsiaPacific (Vietnam) Ltd Liability Company — which will be 51%-owned by GAP and the remaining 49% will be owned by Vietnet.

The initial capital contribution of the JV will be US$300,000, where GAP will contribute US$153,000 for its 51% shareholding, while Vietnet contributes US$147,000 for its 49% shareholding.

According to K-One, the cloud market in Vietnam is one of the fastest growing in Asean, driven by its accelerating digital transformation.

“In addition, the multinational cloud computing (cloud) partners of GAP; namely AWS, Google and Microsoft, have big footprints in Vietnam for good reasons. In this regard, the K-One group should ride with these cloud giants to take its share of the fast-rising Vietnamese cloud market,” it said.

The group said Vietnet will focus on developing the business through their wide network, while GAP will provide the technical support to secure the business.

Further, the proposed JV is expected to contribute positively to K-One’s earnings for the financial year ending Dec 31, 2023 (FY23).

K-One group is anchored by two main businesses, the electronic manufacturing services (EMS) and cloud. The current sales contribution ratio for EMS is 60%, while cloud is 40%.

Shares of K-One closed unchanged at 10.5 sen on Thursday, with a market capitalisation of RM83.72 million.
https://www.theedgemarkets.com/artic...siness-vietnam
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Old Posted Oct 21, 2022, 1:32 AM
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Part 83: Indonesia | Capital A
Capital A's Ikhlas platform to tap Indonesian market next year
Bernama October 20, 2022 16:30 pm +08
Quote:
KUALA LUMPUR (Oct 20): Capital A’s Muslim-friendly travel and lifestyle platform, Ikhlas, plans to tap the Indonesian market next year by expanding its umrah and halal travel packages.

Ikhlas chief executive officer Ikhlas Kamarudin said the company foresees huge demand in Indonesia, and expects to launch its product there by early May 2023.

“I feel that we need to get the product a bit [more] ready before we enter the Indonesian market. We’re almost there. By next year, hopefully right before Ramadan or maybe by Ramadan, we will launch our product there,” he told reporters at the launch of the Ikhlas platform here on Thursday (Oct 20).

Ikhlas said Ikhlas aims to have at least one million users within a year after the launch.

Ikhlas started business in April 2020, and took the opportunity of the downtime during the Covid-19 pandemic to accelerate its development to be airasia Super App’s fully fledged Muslim-friendly travel and lifestyle platform.

Spurred by the resumption of AirAsia X flights to Jeddah and many other destinations, Ikhlas now offers many umrah and other travel packages.

Other services available on the Ikhlas platform include digital access to faith-based practices, such as qurban and zakat, as well as other shariah-compliant lifestyle services, including aqiqah, fidyah and sadaqah.

“Besides the ready-made umrah packages that we currently offer, we will also be introducing more flexible, do-it-yourself travel and umrah options, where travellers can customise their trips by selecting their flights, hotels, activities and other add-ons that are curated specifically for Muslims,” Ikhlas said.
https://www.theedgemarkets.com/artic...rket-next-year
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