Malaysian Investor Thread

[nazrey]

WORLD 2021
Part 77: Hong Kong | Top Glove
Top Glove shareholders approve US$473 million Hong Kong listing plan
Liz Lee Reuters December 08, 2021 15:12 pm +08

KUALA LUMPUR (Dec 8): Glove maker Top Glove Corp Bhd has won shareholders' approval for its plan to list in Hong Kong, saying on Wednesday it expects to complete the exercise by the first quarter of next year.

In a statement, the company said an extraordinary general meeting of shareholders approved resolutions backing its dual primary listing on the Stock Exchange of Hong Kong (HKEx), adding that the next step was to seek approval from the HKEx.

"The proposed listing is expected to be completed by the first quarter of 2022," the world's largest manufacturer of medical gloves said.

In October, Top Glove slashed for a second time the amount it aimed to raise from the Hong Kong listing to HK$3.68 billion (US$473 million), or less than a quarter of its initial target.

The company could raise about HK$4.24 billion if the overallotment option is fully exercised, it said. Top Glove initially planned to raise US$1.9 billion but nearly halved the target in April.

Top Glove said it was raising capital for business growth; geographic expansion; strategic investments; accretive mergers and acquisitions; automation, facilities, and machines upgrades; as well as strengthening environmental, social, and corporate governance practices and initiatives.

Its listing plan was delayed over a struggle to resolve a year-long import ban by the US Customs over accusations of forced labour. The ban was lifted in September after a review showed Top Glove had addressed all indicators of forced labour.

https://www.theedgemarkets.com/artic...g-listing-plan

[nazrey]

WORLD 2021
Part 78: Pakistan | Axiata Group Bhd
Axiata lends subsidiary edotco US$20m for its Pakistan ops
Seah Eu Hen December 08, 2021 21:51 pm +08

KUALA LUMPUR (Dec 8): Axiata Group Bhd has extended a US$20 million loan to edotco Sdn Bhd for the 63%-owned subsidiary to inject further capital into its Pakistan operations.

The loan agreement signed on Tuesday will have a tenure of 12 months, Axiata said in a bourse filing.

“The shareholder loan is provided on comparable commercial terms and on an arms-length basis. It is expected to contribute positively to the interest income of Axiata based on prevailing market benchmarks,” the group said.

Axiata added that its directors are of the opinion that the loan is fair and reasonable, and not detrimental to the interest of Axiata and its shareholders.

Meanwhile, one of its non-independent non-executive director, Ong King How, who is the representative and a full time executive of Khazanah Nasional Bhd — which owns 36.75% in Axiata and a deemed interest of 10.57% in edotco — will abstain from all deliberations related to the loan.

Axiata said the highest percentage ratio of the related party transaction is 0.46% based on an exchange rate of US$1 to RM4.04 in the group’s audited consolidated financial statements for its financial year ended Dec 31, 2021.

Shares of the telecommunications group closed nine sen or 2.37% down at RM3.70, giving it a market capitalisation of RM33.95 billion.

https://www.theedgemarkets.com/artic...s-pakistan-ops

[nazrey]

ASEAN 2021:
Part 91: Indonesia | TSH Resources Bhd
TSH to net nearly RM400mil gain from Kalimantan land sale
By Farah Adilla - December 13, 2021 @ 9:06am

KUALA LUMPUR: TSH Resources Bhd is expected to realise a net disposal gain of RM398 million from the proposed disposal of its North Kalimantan landbank for RM679 million, Kenanga Research said.

The firm said the disposal would be positive for the company as the land was not generating profit or cash-flows.

"Assuming the Heads of Agreement (HoA) leads to a simple outright cash sale, the proposal is welcomed on several counts - earnings per share (EPS) uplift thanks to lower interest cost moving forward due to debts being repaid, less volatile EPS once debts are trimmed and an acceleration in new or re-planting which should translate to earlier growth.

"On completion, we believe TSH will likely pare down some debts. If the entire consideration of RM679 million is indeed used to repay borrowings, the reduction in after-tax interest expenses is estimated at RM25 million a year," Kenanga Research said in a report today.

Recently, TSH's 90 per cent-owned Indonesian subsidiary PT Bulungan Citra Agro Persada entered into HoA to negotiate the sales of land to PT Kawasan Industri Kalimantan Indonesia (KIKI) and PT Kalimantan Industrial Park Indonesia (KIPI).

The land is located in Tanah Kuning and Mangkupadi in Bulungan Regency by the north eastern coast of Kalimantan.

TSH said 13,215ha of the land certified under Hak Guna Usaha (HGU) would be sold for about RM679 million in cash while additional pieces of nearby land which it had acquired but still awaiting certification and registration would be sold for about RM51,380 per ha.

However, the HoA is not binding at this juncture.

Kenanga said TSH had attempted to develop 9,000ha of this land into industrial properties with an Indonesian partner in 2018 but the deal was aborted in 2019.

"It is thus not clear whether TSH still harbour such ambition as the rationale for the HoA is quite open ended.

"This contrast with two earlier proposed divestments where TSH clearly announced its intention was to repay debts following its asset sales.

"One of the previous proposals involved the sales of matured Indonesian estates to KLK for US$141 million but has since been terminated.

"The other proposal to sell matured Sabah estates and a mill for RM248 million is still ongoing but.it is unclear whether this latest deal will have an impact on the negotiation," it added.

Kenanga has maintained its "Market Perform" call on TSH, with an unchanged target price of RM1.05.

https://www.nst.com.my/business/2021...ntan-land-sale

[nazrey]

ASEAN 2021:
Part 92: Vietnam | Straits Energy Resources Bhd
Straits Energy Resources bags call-off contract from PetroVietnam
By Azanis Shahila Aman - December 13, 2021 @ 5:59pm

KUALA LUMPUR: Straits Energy Resources Bhd's (SER) subsidiary Tumpuan Megah Development Sdn Bhd (TMD) has bagged a call-off contract from PetroVietnam Technical Services Corporation (PTSC) for the supply of diesel for the PM3-CAA project.

PTSC is a member of the Vietnam National Oil and Gas Group (PetroVietnam) and has established itself as a multi-sector corporation and leader in providing oil and gas technical services in and outside Vietnam.

The contract will last about three and half years from December 6, 2021, to June 4, 2025, and has no specific value as the supply of diesel will be on-call basis throughout the duration of the contract.

The PM3-CAA project involves offshore fields located throughout a 2008 square kilometre (sq km) in the overlapping zone between Malaysia and Vietnam.

This is the first international contract secured by SER as it expanded its footprint throughout the region and this award is a recognition of the company's brand name in delivering reliable services and quality products.

"With this contract, PTSC will get to enjoy highly reliable, efficient and safe fuel delivery services through SER's comprehensive network, infrastructure and tight operating procedures," it said.

SER group managing director Datuk Seri Ho Kam Choy said the company has been working the last few years tirelessly to grow its business, and this contract win has further given SER's the impetus to scale new heights.

Ho said with the company's established network, infrastructure and fleet size of 14 vessels, it stands ready to deliver reliable services and products for this PTSC project.

"Moving forward, we will explore further with PTSC for other areas of collaboration in their other projects to increase our revenue stream," he said.

SER is principally engaged in oil trading and fuel bunkering services, ship management, port operation and management, inland transportation and investment holding activities.

Oil bunkering services involve refuelling marine fuel oil and marine gas oil through its vessels to other ships and ocean-faring vessels such as oil tankers, container vessels, cargo vessels and cruise ships.

Currently, its 70 per cent owned subsidiary TMD operates in 15 ports in Malaysia.

https://www.nst.com.my/business/2021...t-petrovietnam

[nazrey]

WORLD 2021
Part 79: Chad | Petronas (E&P) Overseas Venture Sdn Bhd
Petronas inks deal with Savannah Energy to dispose business interests in Chad
Surin Murugiah December 14, 2021 07:28 am +08

KUALA LUMPUR (Dec 14): Petronas (E&P) Overseas Venture Sdn Bhd is disposing its entire stake in Petronas Carigali Chad Exploration & Production Inc. (PCCEPI), its subsidiary in Chad.

In a statement Tuesday (Dec 14), the national oil company (NOC) said it had signed a Share Sale and Purchase Agreement (SPA) with Savannah Energy Chad Limited for the deal.

The NOC said the sale was aligned the asset rationalisation strategy shaped by a regular review of its investments to ensure a better fit with its growth ambitions in the changing industry environment and accelerated energy transition landscape.

It said the SPA includes the transfer of PCCEPI’s shares and interests in Petronas Carigali Chad (EP) Inc., DOBA Pipeline Investment Inc. (a shareholder in both Tchad Oil Transportation Company and Cameroon Oil Transportation Company), and Petronas Chad Marketing Inc, to Savannah Energy.

For the proposed transaction, Petronas was advised by Jefferies International Limited.

Petronas said the transaction is currently pending regulatory approvals and fulfillment of conditions precedent, including the approval from Chad’s Ministry of Petroleum and Energy.

Petronas said it remains focused on maintaining a robust portfolio with a healthy and sustainable risk and return profile as it expands into non-traditional businesses, including new energy and renewables, to improve its carbon profile and advance its sustainability agenda.

https://www.theedgemarkets.com/artic...interests-chad

[nazrey]

WORLD 2021
Part 80: India | IHH Healthcare Bhd
IHH Healthcare completes Continental Hospitals divestment
By Azanis Shahila Aman - December 14, 2021 @ 6:54pm

KUALA LUMPUR: IHH Healthcare Bhd has completed the divestment of Continental Hospitals Private Ltd as part of its portfolio strategy review.

IHH said its subsidiary, Gleneagles Development Pte Ltd today has completed the sale of its entire 62.2 per cent stake in Continental Hospitals to Gurunath Reddy and affiliates, IHH's partner shareholder in Continental Hospitals.

IHH managing director and chief executive officer Kelvin Loh said this divestment is part of the company's portfolio strategy review.

Loh said this divestment focused on strengthening IHH's healthcare capabilities for its patients and creating more value for our stakeholders.

"Our priority remains in deepening our presence in India, which is a key market for IHH through its multi-city based platform assets, and to continue working hand in hand with our people and the government," he said.

https://www.nst.com.my/business/2021...als-divestment

[nazrey]

WORLD 2021
Part 81: USA | AT Systematization Bhd
AT Systematization expands its product reach to the US market
By Ayisy Yusof - December 17, 2021 @ 7:56pm

KUALA LUMPUR: AT Systematization Bhd's subsidiary, AT Glove Engineering Sdn Bhd, has been allowed to proceed with marketing activities of its nitrile gloves in the United States (US) after meeting the US Food and Drug Administration's (FDA) procedural requirements.

The company recently received a notification letter dated December 16, 2021, from the FDA concerning the 510(k) premarket notification clearance, which provides the potential to ship and market the nitrile examination gloves into the US.

Managing Director Choong Lee Aun said the FDA 510(k) Medical Product License clearance would allow the company to expand its product reach to a broader market into the highly lucrative US market.

"It is part of our efforts to expand the company's geographical reach. These moves to expand to the US markets will also support the take-up of additional production capacity coming onstream," he said in a statement today.

Cheong said the company would add four lines to be commissioned soon at its factory located at Chemor, Perak, which will boost its production capacity to 2.0 billion per year.

AT Systematization had entered into the production of medical-grade nitrile examination gloves in 2020.

The company is currently running six production lines with an annual capacity of 1.2 billion at the factory located at Chemor, Perak.

AT Systematization is also aggressively ramping up capacity expansion for the glove division to capture more business.

The company had recently acquired several industrial plots in Kamunting, Perak, to cater for more than 50 production lines that will boost its annual production capacity.

Choong said demand for gloves is expected to rise due to better healthcare awareness, especially from the emerging economies.

"There is increasing usage of gloves in more sectors and industries as part of the new normal, including airlines, hospitality, and the food processing sector.

"The rising need for quality medical gloves will continue to sustain the global demand for gloves in the long run," he added.

https://www.nst.com.my/business/2021...C2%A0us-market

[nazrey]

ASEAN 2021:
Part 93: Indonesia | CIMB Group Holdings Bhd
CIMB names Lani Darmawan as new president director and CEO of CIMB Niaga, the group's first female country CEO
Shazni Ong December 17, 2021 18:22 pm +08

KUALA LUMPUR (Dec 17): CIMB Group Holdings Bhd has appointed Lani Darmawan as the president director and chief executive officer (CEO) of CIMB Niaga, making her the first female country CEO under the group.

The appointment will be effective as of the date specified in CIMB Niaga’s extraordinary general meeting held on Friday, CIMB said in a statement.

The appointment is subject to approval from the financial services authority of Indonesia Otoritas Jasa Keuangan (OJK) and/or the fulfilment of the requirements as stipulated in the OJK letter, it added.

Lani succeeds Tigor M Siahaan, who is currently serving his notice period following his resignation in October this year.

According to CIMB, Lani is an established leader with a proven track record in the industry with more than 35 years of banking and finance experience.

“Lani has been with CIMB Niaga since 2016 and was most recently the bank’s CEO of consumer business. She has been instrumental in the transformation of CIMB Niaga’s consumer banking business to better serve the needs of customers across Indonesia, as well as driving the bank’s business strategy in alignment with the group’s Forward23+ strategic plan,” it said.

Prior to CIMB Niaga, Lani held leadership roles in several large financial institutions in Indonesia.

“I am pleased to welcome Lani to her new role as she takes up the helm at CIMB Niaga.

“I am confident that her strong leadership acumen coupled with her extensive industry experience, strategic vision and constant customer focus will further strengthen CIMB Niaga’s position as a leading banking franchise in Indonesia,” said CIMB Group chairman Datuk Mohd Nasir Ahmad.

As the first female country CEO under CIMB Group, Mohd Nasir noted Lani’s appointment also demonstrates CIMB's commitment to promote diversity and inclusion in its leadership bench, in line with the group’s sustainability agenda.

“Indonesia is a key market for CIMB Group, and CIMB Niaga is stronger today thanks to the team which has been ably led by Tigor.

“On behalf of CIMB Group, I would like to express my sincere gratitude to Tigor for his leadership and invaluable contributions in building CIMB Niaga into what it is today,” he added.

CIMB’s share price finished for the day nine sen or 1.72% higher at RM5.32, valuing the group at RM53.36 billion with 21.9 million shares traded.

https://www.theedgemarkets.com/artic...s-first-female

[nazrey]

WORLD 2021
Part 82: Brazil | Petroliam Nasional Bhd (Petronas)
Petronas consortium wins Sépia field in Brazil bid round
Adam Aziz December 18, 2021 00:34 am +08

KUALA LUMPUR (Dec 17): Petroliam Nasional Bhd (Petronas) and its consortium partners have won the producing Sépia field in the Santos Basin offshore Brazil, during the country’s Second Transfer of Rights Surplus Volume Bidding Round held in Rio de Janeiro.

With the win, Petronas will hold a 21% interest in the field via Petrona Petróleo Brasil Ltda (PPBL), alongside operator Petrobras (30%), TotalEnergies (28%), and QatarEnergy (21%), Petronas said in a statement.

At a depth of 2,000 meters, Sépia is a pre-salt oil field located 200km off the coast of Rio de Janeiro.

The field started production in August this year through floating production storage offloading vessel FPSO Carioca chartered from Modec, which has capacity to process up to 180,000 bpd of oil and compress up to 6 million cubic meters of natural gas.

In its statement, Petronas said a second FPSO is expected to be sanctioned soon, which would increase the overall production capacity of the field.

“Petronas is extremely encouraged with the outcome of the bid round, which marks our entry into the Santos Basin,” said Petronas president and group chief executive officer Datuk Tengku Muhammad Taufik.

“This signals our commitment to strengthen our ventures in Brazil, which offers the world’s most prolific basins. Establishing our presence in the Americas is in line with our global growth strategy.

"Even as we work closely with our partners, together with the support of the Host Government, Petronas will remain focused on pursuing value creation, while continuing our decarbonising efforts in order to sustainably develop and monetise the Sépia field,” Muhammad Taufik added.

Aside from Sépia, PPBL also has participating interest in the Tartaruga Verde (BM-C-36 Concession) and Module III of the Espadarte (Espadarte Concession) deepwater fields located in the Campos Basin, offshore Brazil.

In addition, it holds participating interests in three other deepwater exploration blocks in the Campos Basin (C-M-661, C-M-715 and C-M-541), which were awarded during Brazil’s Concession Exploration Bid Round 16 in 2019, according to Petronas.

https://www.theedgemarkets.com/artic...azil-bid-round

[nazrey]

WORLD 2021
Part 83: Brazil | Yinson Holdings Bhd
Yinson bags US$505mil FPSO asset operations, maintenance from Enauta in Brazil
By NST Business - December 20, 2021 @ 9:02am

KUALA LUMPUR: Yinson Holdings Bhd has accepted a letter of intent (LoI) from Enauta Energia S.A. (Enauta) for the provision, operation, and maintenance of floating production storage and offloading (FPSO) asset in the Atlanta Field, located in the Santos Basin, offshore Brazil.

The LoI includes a call option for Yinson to acquire the contact's asset-owning business in exchange for a 15-year time-charter agreement.

It also includes a 15-year operation and maintenance agreement, with Enauta having the option to extend the terms of these agreements by an additional five years.

The estimated aggregate value of the contract is US$505 million, including a two-year operations and maintenance agreement, with a further increase to US$1.98 billion, inclusive of five years extension period, should Yinson exercise the call option.

Yinson group chief executive officer Lim Chern Yuan expressed confidence in the working relationship between the company and Enauta, which has been the foundation of the fruitful memorandum of understanding (MoU) and LoI negotiations.

"This will continue to see us through the execution of the project and its subsequent operations.

"We believe that this will ultimately allow both parties to reach our shared goal of advancing Brazil's energy industry through solutions that are as sustainable as possible," he said in a statement today.

The LoI was issued to Yinson Acacia Ltd, an indirect wholly-owned subsidiary of Yinson.

The LoI follows the signing of a binding MoU between Yinson and Enauta on 27 August 2021 to engage in exclusive negotiations for the potential supply and charter of the FPSO.

Yinson Offshore Production chief executive officer Flemming Grønnegaard said emission-lowering technologies had been included in the FPSO's design.

"We believe that Yinson and Enauta's joint commitment to pioneering low-emission designs will pave the way for the FPSO industry to contribute towards mitigating the world's climate change issues.

"Having successfully strengthened our resources, capacity and expertise in Brazil over the past few years, we are excited to swing into high gear in order to execute this project well and deliver on our commitments," he said.

The FPSO will be Yinson's third project award in Brazil, with the earlier two awarded assets on track for completion in 2023 and 2024, respectively.

Established in 1998, Enauta is one of the leading independent companies in Brazil's exploration and production sector.

The company has a strong presence in Brazil with two producing offshore assets, Atlanta and Manati field, as well as 19 exploration blocks.

Enauta is a wholly-owned subsidiary of Enauta Participacoes S.A., a listed entity on the Brazilian stock exchange B3 since 2011 with a market capitalisation of RM2.9 billion, total equity of RM2.6 billion and a net cash position of RM1.7 billion as at third quarter (Q3) of 2021.

https://www.nst.com.my/business/2021...-enauta-brazil

[nazrey]

ASEAN 2021:
Part 94: Singapore | YTL Power International Bhd
YTL Power acquires 12.5MW green hyperscale data centre in Singapore
Justin Lim December 20, 2021 19:28 pm +08

KUALA LUMPUR (Dec 20): YTL Power International Bhd has completed the acquisition of Dodid Pte Ltd, the owner of a 12.5 megawatt (MW) tier-three data centre in Singapore.

This marks the group's first foray into the data centre industry outside Malaysia, and its first step towards establishing a regional data centre platform in Southeast Asia, the group said in a statement on Monday.

Built and commissioned in 2018, Dodid is a green, state-of-the-art facility that serves the largest hyperscale customers in Asia. The acquisition was done through YTL Power's digital infrastructure subsidiary, YTL Data Center Holdings Pte Ltd (YTL DC).

YTL DC is working closely with YTL PowerSeraya, Singapore's second largest power producer, and its retail arm Geneco on green energy solutions to enable the data centre to be run on renewable energy.

YTL Power managing director Datuk Yeoh Seok Hong said the burgeoning growth of the data centre market in Southeast Asia amid digital transformation represents an exciting opportunity for YTL Power to expand its expertise in infrastructure to the digital age.

"This is a major strategic initiative as we seek to expand our infrastructure platform to build sustainable data-driven ecosystems powered by renewable energy, which will help meet the region's growing appetite for cloud-based solutions and services.

"With YTL's deep expertise in key telecommunications and electricity markets in Singapore, Malaysia and Indonesia, we are able to extract synergies from across the YTL group's core businesses to bring cost efficiencies and long-term value to customers," he added.

YTL DC is also working on a pipeline of projects to roll out 300MW of green data centre capacity regionally by 2030, primarily in the key hubs of Singapore, Kuala Lumpur and Johor.

"Plans are underway to expand YTL group's existing data centre facility in Sentul, Kuala Lumpur to provide customers with close proximity network connectivity to key internet exchange hubs in central Kuala Lumpur.

"YTL DC will also utilise the YTL group's expertise in renewable energy, telecommunications and construction to develop new data centre campuses in Southeast Asia," said YTL Power.

Founded in 2021 and headquartered in Singapore, YTL DC offers data centre services that enable scaling with agility and speed, delivering comprehensive customer centric solutions.

YTL Power shares slipped 0.81% or 0.5 sen to close at 61.5 sen on Monday, giving the group a market capitalisation of RM5.02 billion.

https://www.theedgemarkets.com/artic...ntre-singapore

[nazrey]

ASEAN 2021:
Part 95: Singapore | Kelington Group Bhd
Kelington bags RM110mil contract to provide UHP solution to Singapore firm
By Farah Adilla - December 22, 2021 @ 6:12pm

KUALA LUMPUR: Kelington Group Bhd's wholly-owned subsidiary, Kelington Engineering (S) Pte Ltd, has clinched a contract worth RM110 million to provide Ultra High Purity (UHP) solutions for a wafer production facility in Singapore.

The integrated engineering solutions provider said the contract was awarded by a global leader in engineering and project management of high-technology facilities who has been appointed as the contractor of the end-customer.

The Germany-based end-customer is one of the leading manufacturers of silicon wafers which are a key component in semiconductor chips.

Under the contract, Kelington will undertake the bulk and speciality gases distribution system works for the end customer's new manufacturing facility in Singapore.

The project will commence immediately from December 2021 and is slated for completion by May 2023.

Kelington chief executive officer Ir Raymond Gan said the company has significantly benefitted from the robust growth of the semiconductor industry in 2021 as global players accelerate their capacity expansion plans to meet the strong rise in demand for semiconductor chips.

"The UHP equipment for this project will be fabricated and supplied by the company's wholly-owned indirect subsidiary, KE System Integration (Chuzhou) Co Ltd in China.

"This demonstrates that our in-house fabricated equipment is recognised and certified for use in an advanced wafer production facility.

"We believe this will elevate our value chain in the industry as well as our profitability moving forward.

"Notably, as Singapore is one of the most attractive destinations for technological investments globally, our Singapore operations have been one of the key contributors in terms of project flows over the past several months," he said in a statement today.

On top of this RM110 million contract win, Kelington has also secured several other UHP contracts in Singapore totalling RM66.3 million over the past few weeks alone.

This brings the total value of new contracts secured in recent weeks to RM176.3 million.

These contracts are for works to be undertaken for different end customers at some of the most advanced semiconductor facilities in Singapore, it said.

Kelington said the cumulative value of new contracts clinched this year has reached an all-time high of RM1.184 billion, lifting the company's current outstanding orderbook to RM1.225 billion.

Gan said looking ahead, the company remained optimistic on its prospects, underpinned by its robust project pipeline across operating markets in Malaysia, Singapore and China.

"Our tender activities also continue to remain active and by leveraging on our strong market position, we are well-poised to capture more business opportunities.

"Not resting on our laurels, we will continue stepping up our efforts to secure more projects in the coming months while delivering high-quality output to our customers in a timely manner," he added.

https://www.nst.com.my/business/2021...singapore-firm

[nazrey]

WORLD 2021
Part 84: Mexico | Coastal Contracts Bhd
Coastal Contracts' JV bags RM4.5bil Mexican job
By Farah Adilla - December 27, 2021 @ 1:26pm

KUALA LUMPUR: Coastal Contracts Bhd says a consortium led by its joint-venture company Coastoil Dynamic SA de CV (CD) has secured a gas conditioning plant construction project in Mexico worth RM4.5 billion.

In a statement today, Coastal said CD had entered into a service agreement with Pemex Exploracion and Produccion, a subsidiary of Petroleos Mexicanos (Pemex) to undertake an onshore gas conditioning plant project.

The project is the EMC Papan Plant with a capacity of 300 million standard cubic feet per day (mmscfd) at Ixachi field, Tierra Blanca in Veracruz, Mexico.

Pemex is the Mexican state-owned petroleum company.

Coastal said the firm period for the contract was 3,902 days, including the construction period of 250 days and operations and maintenance period of 10 years.


Coastal executive chairman Ng Chin Heng said the company was optimistic towards pursuing more projects related to Pemex's production value chain amid a steady recovery of the industry.

"Winning this contract would mean that Pemex recognises our capability to provide quality service to Pemex."

He added that with the oil price hovering around US$70 per barrel and the underinvestment in the industry during the past few years, oil majors were expected to increase capital expenditure spending in year 2022.

"We believe that Coastal and our joint venture company will be able to capitalise these opportunities," he said.

Coastal said EMC Papan Plant, being part of Ixachi field, was considered to be a strategic project not only for Pemex but also for the Mexico government's aim to make gas to reach every Mexican in the country over the years to come.

"For Pemex, this project is attractive due to its proximity to existing gas collection, separation and measuring infrastructure as well as two major pipelines that will allow gas to flow to central, northern and eventually, south eastern of Mexico.

"Ixachi in comparison with Mexico's super-giant shallow-water Cantarell field is expected to be the most productive onshore field in Mexico once it hits its peak production," it added.

https://www.nst.com.my/business/2021...il-mexican-job

[nazrey]

ASEAN 2021:
Part 96: Singapore | Genting Bhd
Genting Singapore places Japan subsidiaries under voluntary liquidation
Shazni Ong December 30, 2021 11:03 am +08

KUALA LUMPUR (Dec 30): Genting Bhd’s 52.7%-owned subsidiary Genting Singapore Ltd announced that it had placed eight Japan-incorporated wholly-owned subsidiaries under voluntary dissolution and liquidation.

In an announcement on Tuesday (Dec 28) to the Singapore Exchange, casino and hotel operator Genting Singapore said the subsidiaries placed under voluntary dissolution and liquidation comprise direct wholly-owned subsidiary Genting International Japan Co Ltd besides indirect wholly-owned subsidiaries BayCity Co Ltd, Genting Osaka Co Ltd, Genting Yokohama Co Ltd, MoonLake Co Ltd, Resorts World Osaka Co Ltd, Spark Yokohama Co Ltd and StarLight Co Ltd.

"The members’ voluntary dissolution and liquidation of the subsidiaries are not expected to have any material impact on the consolidated net tangible assets and earnings per share of the group (being the company and its subsidiaries) for the financial year ending Dec 31, 2021.

"None of the directors or substantial shareholders of the company (Genting Singapore) has any interest, direct or indirect, in the above members’ voluntary dissolution and liquidation other than through their respective shareholdings in the company (Genting Singapore),” Genting Singapore added.

The company, however, did not specify reasons behind the voluntary dissolution and liquidation of the subsidiaries.

In corporate terminology, the phrase voluntary dissolution and liquidation refers to the process of winding up a company by its directors and shareholders when the company no longer serves its purpose to exist as a legal entity.

At a glance, the voluntary dissolution and liquidation of Genting Singapore’s Japan-based subsidiaries are not unexpected after Japan's Yokohama city cancelled the Yokohama integrated resort (IR) bid process, hence the discontinuation of Genting Singapore’s participation in the Yokohama IR bid.

Genting Singapore said in a filing with the Singapore Exchange on Sept 10, 2021 that the company was surprised and disappointed by the unexpected turn of events leading to the decision to cancel the Yokohama IR bid.

"We are surprised and disappointed by the unexpected turn of events leading to the city’s decision to cancel the Yokohama IR bid as the board of directors and management of the company, together with our consortium partners and supporting partners, have devoted considerable time and our best efforts to prepare and submit a compelling bid and proposed a significant investment that will benefit the city of Yokohama and its community — and at the same time make Yokohama a world-class tourism destination.

"The company would like to thank all parties who have supported and contributed to our Yokohama IR bid, and we extend our best wishes to Yokohama city,” Genting Singapore said.

According to news reports, Genting Singapore earlier led a bid to win an IR contract in Yokohama after Japan passed in 2018 a bill permitting the construction of IRs in three cities across Japan.

"Osaka and Yokohama were in the running to host two of these resorts, and Genting Singapore was hoping to form partnerships for their operations. But it dropped out of the Osaka IR race in February 2020, which was eventually won by MGM Resorts in September 2021.

"In the same month, an anti-IR candidate won Yokohama’s mayoral election and the city withdrew its bid,“ Gambling Insider reported.

On Bursa Malaysia on Thursday, Genting Bhd shares were traded unchanged at RM4.71 at 10.52am, with a market capitalisation of about RM18.13 billion based on the company’s 3.85 billion issued shares.

The counter saw 426,700 shares transacted.

https://www.theedgemarkets.com/artic...ry-liquidation

[nazrey]

WORLD 2022:
Part 1: USA | Gemilang International Ltd (GML)
Gemilang to deliver 140 fully electric school bus to California
By Azanis Shahila Aman - January 6, 2022 @ 1:31pm

KUALA LUMPUR: Johor-based bus and bus body manufacturer Gemilang International Ltd (GML) is expected to deliver 140 units of fully-electric school buses to California, United States (US) in 2022.

Chairman and chief executive officer Pang Chong Yong said GML had been supplying bus bodies for various EV makers such as BYD and CRRC to several markets including Malaysia, Singapore and Australia since 2015.

"We expect more countries to catch up with the transition to EV as an increasing number of climate change mitigation commitments have been announced by governments around the globe," he said in a statement.


Pang said the order of 120 units of 12 meter (m) length school buses and 20 units of 7.5m-length school buses was remarkable not just because it was a breakthrough for the US market, but it was also the largest quantity from a single order of EV buses that the company had ever received.


He highlighted that the EV school bus market in the US was enormous with exponential growth.

"This is a result of the recently-announced Bipartisan Infrastructure Deal (Infrastructure Investment and Jobs Act) which was signed into law by US President Joe Biden, committing US$2.5 billion (RM10.5 billion) to buy electric school buses for districts around the US.

"With the new plan to convert all 500,000 US school buses to zero emission vehicles, we are confident to capture more market share with our three decades of industry experience as well as our main competitive advantage – aluminium lightweight superstructure," he said.

GML has designed and manufactured bus bodies, and assembled buses for over 30 years.

Its notable projects recently included the Iskandar Malaysia Bus Rapid Transit (IMBRT), Sarawak's first electric city bus for Kuching Metro, and an electric bus pilot project by the Sabah government for public transport.

GML has also been supplying aluminium buses for Go KL, Rapid KL, Rapid Penang and MRT feeder buses for the last 13 years.

Pang said GML focused on building environmentally-friendly bus and bus bodies, and had been using aluminium body solutions for more than 20 years.

"The lightweight, corrosion-free technology originates from Switzerland and has been proven by our customers from more than 15 markets around the world.

"Usually, our buses last longer and are deemed to be safer than steel-bodied counterparts, and I am pleased that this has helped us to expand our footprint in the US market," he added.

https://www.nst.com.my/business/2022...bus-california

[nazrey]

MALAYSIAN INVESTOR
ASEAN 2022
Part 1: Indonesia | LOTTE Chemical Titan Holding Bhd
Lotte Chemical set to sign deals on key packages for Indonesian line expansion project
By Bernama - January 7, 2022 @ 2:15pm

The LINE Project, with an investment value in the range of RM17 billion (US$3.95 Billion), is a joint venture with its parent company, LOTTE Chemical Corporation that will serve as a key expansion drive for the company with the aim of solidifying its position as a top tier petrochemical company in the Southeast Asia region.

https://www.nst.com.my/business/2022...ansion-project

[nazrey]

WORLD 2022:
Part 2: Japan | Petroliam Nasional Bhd’s (Petronas)
Petronas delivers first carbon neutral LNG cargo to Hiroshima Gas
By Ayisy Yusof - January 10, 2022 @ 1:10pm



Petroliam Nasional Bhd’s (Petronas) subsidiary Malaysia LNG Sdn Bhd delivers its first carbon neutral LNG (CNLNG) cargo to Hiroshima Gas Co Ltd.

KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary Malaysia LNG Sdn Bhd has delivered its first carbon neutral LNG (CNLNG) cargo to Hiroshima Gas Co Ltd.

The delivery is part of the national oil company's continued commitment towards becoming a sustainable solutions partner to its customers.

The CNLNG delivery also augurs well with Hiroshima Gas' management philosophy to be a company trusted by the communities it serves.

Petronas LNG marketing and trading vice president Shamsairi Ibrahim said the company was proud to grow its 16-year relationship by being Hiroshima Gas' chosen partner for their first CNLNG cargo.

"Providing cleaner energy solutions through carbon offsets will not only positively impact the LNG industry but will also create sustainable value for businesses, societies and the world at large," he said in a statement today.

Hiroshima Gas senior executive officer Kazunori Tamura said the company's business was seeing an increasing need to offer carbon neutral city gas to our end-buyers.

"Petronas' ability to provide such solution is certainly essential to ensure we are on track in our sustainability goals.

Petronas' partnership with its long-term customers in CNLNG solution demonstrated its commitment as a responsible LNG provider to advance a common sustainability agenda.

https://www.nst.com.my/business/2022...-hiroshima-gas

[nazrey]

MALAYSIAN INVESTOR
ASEAN 2022
Part 2: Thailand | Genetec Technology Bhd
Genetec inks MoU for proposed partnership in energy storage system business in Thailand
Syafiqah Salim January 11, 2022 21:50 pm +08

KUALA LUMPUR (Jan 11): Genetec Technology Bhd has inked a memorandum of understanding (MoU) with Thailand-based Asia Precision Public Company Ltd (APCS) to study the feasibility of jointly developing factory automation for energy storage system business in Thailand.

APCS is engaged in the business of precision components and parts manufacturing, industrial automation, construction and utilities.

In a bourse filing, Genetec said the parties agree to conduct the feasibility study for the project. If both parties are satisfied with the results of the study later, they will enter further negotiations to carry out the project as a joint venture under a newly-incorporated JV company, it said.

Genetec said the MoU provides the company with a big opportunity to enlarge its customer base in the energy storage segment, as part of its ongoing customer base diversification plan.

The potential joint venture will also provide the company with a strong presence in Thailand to grow this energy storage business segment, it said.

Genetec shares ended five sen or 1.73% higher at RM2.94 on Tuesday (Jan 11), giving the automated industrial system group a market capitalisation of RM2 billion.

https://www.theedgemarkets.com/artic...iness-thailand

[nazrey]

WORLD 2022:
Part 3: Nigeria | Nova MSC Bhd
Novs MSC bags Nigerian job
By Azanis Shahila Aman - January 11, 2022 @ 9:15am

KUALA LUMPUR: Nova MSC Bhd has secured a RM14.4 million new order for the provision of FORNAX ePlanCheck (FXEPC) software in Nigeria.

The company said its subsidiary novaCITYNETS International Ltd had signed an agreement with ENL-Nova Ltd (ENLN) for the provision of FXEPC software to ENLN's electronic physical planning process system project (EPPPS) from the Nigeria Lagos state government.

The contract will be for 10 years from 2022 to 2031.

"The agreement is based on a pay-per-use revenue model and would depend on ENLN's revenue collection from EPPPS and the end-users adoption to the EPPPS," it said.

FXEPC service provides Qualified Persons (QPs) and Building Information Modeling (BIM) managers an avenue to perform automated checks on BIM models to audit for data completeness, modelling quality according to best practices, compare models between iterations and detect critical clashes of vital elements.

Nova MSC group chief executive officer Lai Teik Kin said the company's state-of-the-art FXEPC hadvbeen in development since 2002.

Lai said the FXEPC had undergone many cycles of improvements with the incorporation of Artificial Intelligence (AI) to automate the checking process.

"FXEPC will help to change the industry as the laborious nature of building plan checks could be simplified.

"What normally takes weeks or even months for completion, would only require mere hours with our FXEPC, giving a tremendous boost in productivity to the industry," he said.

https://www.nst.com.my/business/2022...s-nigerian-job

[nazrey]

WORLD 2022:
Part 4: Scandinavian region | Aerodyne Group
Malaysia's Aerodyne signs with Astralution to offer drone solutions in Scandinavia
By Azanis Shahila Aman - January 10, 2022 @ 5:02pm



Aerodyne Group inks a strategic partnership with Astralution to offer leading Drone-as-a-Service (DaaS) and Software-as-a-Service (SaaS) solutions in the Scandinavian region.

KUALA LUMPUR: Aerodyne Group has inked a strategic partnership with Astralution to offer leading Drone-as-a-Service (DaaS) and Software-as-a-Service (SaaS) solutions in the Scandinavian region.

Aerodyne is a DT3 (drone tech, data tech and digital transformation) drone-based enterprise solutions provider, and a pioneer in the use of artificial intelligence as an enabling technology for large-scale data operations, analytics and process optimization.

Aerodyne said with Astralution's extensive background in aviation and crisis management in oil and gas, the partnership would bring long-term value to clients by providing tailored Unmanned Aerial Vehicle (UAV) solutions.

The effort will support the digitalisation of the oil and gas sector by adding sensors and another layer of data analysis in the value chain, allowing up to US$20 billion cost-savings from equipment failure and repair.

"The data capture and digital transformation initiatives to be conducted in Norway's renewable energy industry is also in line with the European Commission's climate aim of 55 per cent greenhouse gas emissions reduction by 2030," it said.

Aerodyne founder and group chief executive officer Kamarul A Muhamed said the total renewable capacity in Denmark and Norway in 2020 was 9,677 megawatts and 37.2 terawatts2 respectively, making it a huge market to tap into in terms of renewable energy asset management.

Kamarul said this was especially since the EU was looking to install 30 gigawatts of wind farms every year from 2021 to 20303.

"There is also a huge opportunity to break data silos in the oil and gas sector, and with room to improve in how data can be standardised, integrated and analysed.

"Our AI-powered asset management solution – Vertikaliti – will provide up to 90 per cent time savings with smart oil and gas monitoring systems and 35 per cent operation cost savings for wind turbine analysis.

"It will also provide up to 97 per cent increased productivity for solar panel inspections," he said.

Astralution founder and chief executive officer Nina Bokn Solheim said the company was pleased to represent Aerodyne in Scandinavia.

"For Astralution, this improves our competitive edge and opens up a number of new opportunities in a large growing market.

"With Aerodyne's capability and capacity included, Astralution is able to present state-of-the-art SaaS and DaaS solutions to the Scandinavian marketplace," said Solheim.

Since 2014, Aerodyne has managed more than 560,000 infrastructure assets with 458,058 flight operations and managing over 380,000km of power infrastructure across 35 countries globally.

Aerodyne has also been providing cloud-based oil and gas infrastructure, powerline, offshore and onshore wind turbine, and solar panel inspection and management solutions, empowering clients to make strategic decisions based on real-time data.

https://www.nst.com.my/business/2022...ns-scandinavia

UPDATE: Malaysia is now the world’s second-best drone services firm.


https://www.terra-drone.net/global/