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  #241  
Old Posted May 19, 2022, 12:11 PM
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Part 41: UK | Tenaga Nasional Bhd
TNB enhances sustainability journey via UK offshore wind farm company stake buy
Bernama May 19, 2022 16:36 pm +08
Quote:
KUALA LUMPUR (May 19): Tenaga Nasional Bhd's (TNB) wholly-owned subsidiary Vantage RE Ltd (Vantage RE) enhanced TNB’s renewable energy (RE) portfolio and net-zero goals with the acquisition of a 49% stake in the UK's Blyth Offshore Demonstrator Ltd (BODL), an offshore wind farm company, from EDF Renewables (EDFR), a subsidiary of French utility company Électricité de France (EDF).

In a statement on Thursday (May 19), TNB said the acquisition, which was sealed on Oct 18, 2021, marks TNB’s maiden entry into the international offshore wind market as BODL currently owns offshore wind assets off Blyth, Northumberland, England.

"The assets include five turbines with a total installed capacity of 41.5 megawatt (MW) (Blyth 1) and further development rights for a floating offshore wind project of up to 58.4MW (Blyth 2) located off Northumberland.

"The five 8.3MW turbines of Blyth 1 are installed with gravity-based foundations, which use a concrete load to keep the turbines securely in place without penetrating the seabed.

"The wind farm has been in operation since 2017 under the Renewable Obligation Certificates (ROC) subsidy regime that is expected to provide stable revenues," it said, adding that Blyth 2 is an innovative floating offshore wind project currently in the early stage of development.

TNB said the acquisition is one of the planned strategic acquisitions for the national utility company to accelerate its journey in delivering on its environmental, social and governance (ESG) vision.

"Last year, TNB announced its Sustainability Pathway, a blueprint with an aspiration to achieve net zero emissions by 2050.

"The Sustainability Pathway is underpinned by a commitment to reduce 35% of TNB’s emissions intensity as well as 50% of coal generation capacity by 2035," it said.

Vantage RE was launched on July 1, 2021 to own, operate and manage TNB’s portfolio of RE assets in the United Kingdom and Europe. To date, it has achieved a 530.4MW RE portfolio, including offshore wind, onshore wind and solar farms in the UK.

It said as at December 2021, TNB has a total RE capacity of 3,487.2MW, including 2,771.4MW in Malaysia and 715.8MW across the UK, Turkey and India, and is targeting to grow its RE capacity to 8,300MW by 2025.

Locally, TNB’s RE mix includes hydroelectric and large scale solar (LSS) plants. TNB also offers “beyond kWh” kilowatt hour (kWh) solutions such as rooftop solar solutions, energy audits, and a digital marketplace for RE certificates.

TNB is also looking at the adoption of new technologies such as energy storage system to enhance the grid’s flexibility and address the intermittency issue in RE.
https://www.theedgemarkets.com/artic...pany-stake-buy
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  #242  
Old Posted May 31, 2022, 9:11 AM
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Part 42: Australia | Matrix Concepts Holdings Bhd
Malaysian developer Matrix Concepts unveils M333 St Kilda in Melbourne
Chung Ying Yi May 29, 2022 18:05 pm +08



PETALING JAYA (May 29): Matrix Concepts Holdings Bhd launched its latest Australian project called M333 St Kilda on Sunday.

"M333 St Kilda is our third project in Australia, following M.Carnegie and M.Greenvale that have been fully sold since they were launched in 2016 and 2019 respectively. Due to the good response of our previous projects, we are confident that there will be demand for M333 St Kilda. The construction works of the project will start in end-2022 and is expected to be completed in the fourth quarter of 2024," said Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin at the exclusive preview of M333 St Kilda.

https://www.theedgemarkets.com/artic...ilda-melbourne


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  #243  
Old Posted Jun 1, 2022, 11:14 PM
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Part 43: UK/Europe | Tenaga Nasional Bhd (TNB)
TNB to expand global renewable energy footprint
Bernama June 01, 2022 20:28 pm +08
Quote:
KUALA LUMPUR (June 1): Tenaga Nasional Bhd (TNB) through its New Energy Division is striving to future-proof its business by expanding its renewable energy (RE) footprint globally through mergers and acquisitions, asset development and establishing strategic partnerships with leading RE players.

Its wholly-owned subsidiary Vantage RE Ltd, launched on July 1, 2021, is currently operating and managing TNB's portfolio of RE assets in the United Kingdom and Europe, the national utility company said in a statement on Wednesday (June 1).

In October 2021, Vantage RE enhanced TNB’s RE portfolio and net-zero goals with the acquisition of a 49% stake in offshore wind farm Blyth Offshore Demonstrator Ltd from EDF Renewables, a subsidiary of the French utility company, Électricité de France, the statement said.

It has also completed its 100% acquisition of a 97.3 megawatt (MW) onshore wind portfolio in the UK in April 2022. Both acquisitions will help accelerate its environmental, social and governance agenda.

To date, it has an RE portfolio of 530MW, including offshore wind, onshore wind and solar farms in the UK; this underscores the national utility company's strategy to expand its RE portfolio in focus markets such as the UK and Europe.
https://www.theedgemarkets.com/artic...ergy-footprint
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  #244  
Old Posted Jun 1, 2022, 11:16 PM
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Part 45: Singapore | YTL Power International Bhd
YTL Power International completes Tuaspring Power Station acquisition for RM862.31 mil
Sulhi Khalid June 01, 2022 19:55 pm +08
Quote:
KUALA LUMPUR (June 1): YTL Power International Bhd via its wholly owned subsidiary YTL PowerSeraya Pte Ltd has completed the acquisition of Tuaspring Pte Ltd’s 396MW combined cycle gas turbine power plant in Singapore.

In a statement on Wednesday (June 1), the group said the purchase consideration was reduced to a purely cash consideration of SGD270.0 million (RM862.31 million) on completion from the original purchase consideration of SGD331.45 million (RM1.06 billion), which was to be settled via a combination of cash, together with shares and shareholder loans in the holding company of YTL PowerSeraya.

“Tuaspring’s combined cycle power station complements the Group’s existing power generation assets in Singapore, creating significant synergies across our portfolio of utility businesses.

“The Tuaspring plant is one of the most technologically advanced assets on Singapore’s power generation grid and this was a sound opportunity to acquire a well-structured, operating asset with a proven operational track record, enabling us to consolidate our power generation capacity in Singapore,” YTL Power Managing Director, Dato’ Yeoh Seok Hong.

The power station was commissioned in 2016 and was originally constructed as part of a desalination project under a private public partnership project with PUB, Singapore's National Water Agency.
https://www.theedgemarkets.com/artic...on-rm86231-mil
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  #245  
Old Posted Jun 1, 2022, 11:26 PM
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Part 44: Saudi Arabia | ERL
25 ERL staff seconded to support Makkah Metro haj operations [NSTTV]
By Mohamed Basyir, Tengku Zarith Sofia - April 18, 2022 @ 12:46pm

Quote:
KUALA LUMPUR: After a two-years hiatus, Express Rail Link Sdn Bhd (ERL) will once again be sending its staff to Saudi Arabia to support the Al Mashaaer Al Mugaddassah Metro train operations during the haj season this year.

Twenty-five of its staff will be going to the Holy Land to offer their services with the first 10 to leave on April 20 while the remaining on May 20.

ERL chief executive officer Noormah Mohd Noor said this year marks ERL's ninth year of providing operational support to the Makkah Metro in collaboration with China Railway Construction Corporation Limited (CRCC) Saudi since 2012.

"We are honoured to be given the trust once again by CRCC Saudi to provide skilled and experienced operations staff to support the Makkah Metro operations for the next three years until 2024.
https://www.nst.com.my/news/nation/2...erations-nsttv

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  #246  
Old Posted Jun 9, 2022, 1:03 AM
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Part 45: Canada | Dialog Group Bhd
Dialog buys Canadian-listed firm in first mature upstream O&G venture outside Malaysia
Priyatharisini Vasu June 07, 2022 15:01 pm +08

Quote:
KUALA LUMPUR (June 7): Dialog Group Bhd's wholly-owned Singapore subsidiary Dialog Systems (Asia) Pte Ltd (DSAPL) via DSAPL’s 100%-owned Canada-based company 2432707 Alberta Ltd is buying the entire stake in Canada-listed oil and gas (O&G) firm Pan Orient Energy Corp (POEC) for US$38.7 million (about RM170 million) in Dialog’s first upstream O&G venture outside Malaysia for mature oil producing fields.

In a Bursa Malaysia filing on Tuesday (June 7), Dialog said DSAPL had on Monday entered into a conditional agreement with POEC for the proposed acquisition.

"POEC is an Alberta, Canada incorporated corporation with its shares listed on the TSX Venture Exchange. POEC, through its wholly-owned Singapore incorporated subsidiary Pan Orient Petroleum Pte Ltd (POPS), holds 50.01% equity interest in Pan Orient Energy (Siam) Ltd (POES), which is the operator of concession L53/48, onshore Thailand.

"Upon finalisation of the proposed acquisition through POEC’s plan of arrangement, POEC will cease to be listed and Dialog will acquire the delisted POEC holding 100% equity interest in POPS which in turn owns 50.01% in POES.

"As concessionaire and operator of concession L53/48, POES produced approximately 2,700 barrels of oil per day from seven oil fields in Thailand in 2021 with plans to increase production in the future. The current production offtake is to a local refinery. POES has 2P (proven plus probable) oil reserves of 4.6 million barrels as at Dec 31, 2021,” Dialog said.

According to Dialog, the purchase price for POEC will be funded by Dialog’s internal funding or external borrowing including proceeds from Dialog’s Islamic bond or sukuk issuance.

Barring any unforeseen circumstances, the proposed acquisition is expected to be completed by the third quarter of calendar year 2022, Dialog said.

"The proposed acquisition will not have any effect on the earnings and net assets of Dialog for the current financial year ending June 30, 2022.

"However, the completion of the proposed acquisition will have positive effect on earnings and net assets of Dialog for the financial year ending June 30, 2023 onwards and is expected to contribute positively to the long-term future earnings of Dialog,” Dialog said.

At Bursa on Tuesday, Dialog’s share price fell six sen or 2.55% at 2:36pm to RM2.29 for a market value of about RM12.92 billion.

Dialog has 5.64 billion outstanding shares, according to its latest quarterly financial report.
https://www.theedgemarkets.com/artic...tside-malaysia
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  #247  
Old Posted Jun 11, 2022, 12:58 AM
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Part 45: Philippines | MY EG Services Bhd
MY EG partners Philippines tourism authority to implement online travel tax payment portal
Chester Tay June 10, 2022 21:23 pm +08
Quote:
KUALA LUMPUR (June 10): MY EG Services Bhd’s unit is partnering with the Philippines’ tourism authority to implement an online payment portal designed to facilitate payment for travel taxes.

In a filing with Bursa Malaysia, the group said its 40%-owned unit I-Pay MYEG Philippines Inc has entered into a Memorandum of Agreement to partner Tourism Infrastructure and Enterprise Zone Authority (TIEZA) to make payment of travel taxes more effortless.

Philippines citizens will have multiple options to pay for travel tax anytime online through this partnership, the group said.

“We are committed to support TIEZA in providing the traveling citizens an easier, faster and hassle-free way of paying for their travel taxes,” said I-Pay MYEG Philippines CEO Ann Margaret Saldaña.

“With this partnership, TIEZA will be able to provide 90,000 ways for the citizens to settle and pay for their travel taxes, thus, giving them more reasons to have safer, more enjoyable and hassle-free travel," she said.

Shares of MY E.G. closed unchanged at 91 sen on Friday (June 10), giving the group a market capitalisation of RM6.74 billion.
https://www.theedgemarkets.com/artic...payment-portal
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  #248  
Old Posted Jun 14, 2022, 10:05 AM
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Part 46: Singapore | TNG Digital Sdn Bhd
Touch 'n Go e-wallet expands cross-border payments to Singapore
By NST Business - June 14, 2022 @ 1:38pm



Touch' n Go Group, via TNG Digital Sdn Bhd, has expanded its cross-border payments capability to Singapore, led by Touch' n Go e-wallet's acceptance at ComfortDelGro taxis.
Quote:
KUALA LUMPUR: Touch' n Go Group, via TNG Digital Sdn Bhd, has expanded its cross-border payments capability to Singapore, led by Touch' n Go e-wallet's acceptance at ComfortDelGro taxis.

In a statement today, Touch' n Go said this capability was made available through a collaboration with Alipay+, a suite of global cross-border digital payments and marketing solutions operated by Ant Group.

TNG Digital chief executive officer Alan Ni said ComfortDelGro is the operator of the largest taxi network in Singapore, operating about 9,000 taxis across the city.

"We view this as an excellent milestone to expand our payments proposition to Singapore, and we're extremely pleased to have been able to bring our users this added convenience and use-case," he said.

Ni added that as borders reopen and international travel resumes, he expects users to enjoy using the e-wallet when it has more acceptance points in Singapore, in the same seamless way they would use the e-wallet in Malaysia.


"We will continue to grow our acceptance network in time to come," he added.

Ant Group Alipay+ global payment partnership general manager Cheng Guoming said Touch' n Go e-wallet is a long-time and close partner to the group and the leading mobile wallet in Malaysia, serving over 17 million local users to meeting their daily life needs from making payments to investing.

"The latest collaboration with Alipay+ to enable and further expand its cross-border usage is yet another innovation to allow its users to travel with the eWallet and enjoy a hassle-free and seamless payment experience outside their home country," said Cheng.

As part of the promotional campaign to commemorate this new collaboration, Touch' n Go e-wallet users can enjoy discounts to celebrate the launch.

Users are entitled to an instant discount, from RM4 and RM6, off their total fare when they ride ComfortDelGro taxis on the Touch' n Go e-wallet app until June 25, 2022.

The discounts are varied at different weeks and capped at the first 300 transactions daily.
https://www.nst.com.my/business/2022...ents-singapore
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  #249  
Old Posted Jun 17, 2022, 12:38 AM
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Part 46: Norway | IJM Corp Bhd
IJM Corp reincluded in Norway fund
Syafiqah Salim June 16, 2022 18:45 pm +08
Quote:
KUALA LUMPUR (June 16): IJM Corp Bhd was reincluded in Norway's Government Pension Fund Global's portfolio on Wednesday (June 15, 2022) after the executive board of the fund's manager decided to revoke the exclusion of builder IJM Corp after the company divested its stake in its plantation business in 2021.

"The company has been excluded since 2015 due to unacceptable risk that the company is responsible — through its activities in palm oil plants in Indonesia — for serious environmental damage. Since the activities on which the exclusion was based have terminated, there are no longer grounds for excluding the company.

"The decision is based on a recommendation from the [Government Pension Fund Global's] Council on Ethics of May 5, 2022," said Norges Bank Investment Management, which manages the Government Pension Fund Global, the world's largest sovereign wealth fund with a market value of about 11.7 trillion Norwegian kroner (about RM5.2 trillion).

Norges Bank Investment Management is the asset management unit of Norwegian central bank Norges Bank, according to the group's website.

Norges Bank Investment Management's Wednesday (June 15, 2022) statement included a statement by the Government Pension Fund Global's Council on Ethics.

The council said in its statement on Wednesday that in 2021 IJM Corp divested its stake in its plantation business and is no longer involved in the development and operation of plantation.

"The Council on Ethics therefore considers that the grounds for exclusion no longer exist. The Council on Ethics recommends that the exclusion of the company IJM Corp from the Government Pension Fund Global be revoked," the council said.

Looking back, the council said that in 2014 it recommended to exclude IJM Corp from the Government Pension Fund Global due to the risk of the company being responsible for severe environmental damage through its conversion of tropical forest into oil palm plantation.

"At the time, the company was developing plantations in lowland rainforest in East Kalimantan, Indonesia. The council emphasised that the company seemed not to have implemented measures to reduce the loss of biodiversity," the council said.

According to IJM Corp's Bursa Malaysia filings, IJM Corp has sold its entire 56.2% stake in IJM Plantations Bhd to Kuala Lumpur Kepong Bhd (KLK) for RM1.53 billion or RM3.10 a share.

IJM Corp, which initially announced the transaction with KLK on June 9, 2021, said the IJM Plantations stake disposal was completed on Sept 6, 2021.

On Thursday (June 16, 2022), IJM Corp's share price closed down three sen or 1.73% to RM1.70 for a market value of about RM5.95 billion, based on the company's latest-reported number of issued shares at around 3.5 billion.

IJM Corp's latest-reported net assets per share stood at RM2.81.
https://www.theedgemarkets.com/artic...ed-norway-fund
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  #250  
Old Posted Jun 17, 2022, 12:41 AM
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Part 47: India | AirAsia
Air India gets regulatory nod to acquire AirAsia India
Surin Murugiah June 16, 2022 11:45 am +08
Quote:
KUALA LUMPUR (June 16): The Competition Commission of India (CCI) approved Air India's proposal to acquire the entire shareholding of low-cost carrier AirAsia India.

In a statement on Tuesday (June 14), CCI approved Air India's proposal to acquire the entire shareholding of AirAsia India.

"The proposed combination envisages the acquisition of the entire equity share capital of AirAsia (India) Pte Ltd (AirAsia India) by Air India Ltd, an indirect wholly-owned subsidiary of Tata Sons Pte Ltd.

“The latter currently holds 83.67% of the equity share capital of AirAsia India," the CCI said.

AirAsia India was set up in 2014 as a joint venture between Tata Sons and AirAsia Bhd, in which Tata Sons raised its stake to 83.67% in December 2020.

The airline does not have rights to operate international flights.

Air India and AirAsia India have a combined domestic market share of 13%.

The approval comes almost six months after the government transferred the ownership of Air India and Air India Express to Tata Sons.

Tata Sons has four airlines in its fold — Air India, Air India Express, AirAsia India and a 51% stake in the joint venture with Singapore Airlines, Vistara.

An integration of Vistara’s business with Air India is likely to take time as negotiations are still underway with Singapore Airlines.
https://www.theedgemarkets.com/artic...-airasia-india
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  #251  
Old Posted Jun 28, 2022, 10:31 PM
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Part 48: Australia | Gamuda
Gamuda Australia’s joint venture bags RM4.12 bil project
Bernama June 19, 2022 18:38 pm +08



An artist's impression of the new bus interchange and pedestrian bridge part of the bypass works.
Quote:
KUALA LUMPUR (June 19): The Ferrovial Construction Australia and Gamuda Australia Joint Venture (FGJV) has been been awarded a AUD$1.35 billion (RM4.12 billion) design and construct contract by the New South Wales (NSW) Government to deliver the main package of works for the Coffs Harbour Bypass project.

The Coffs Harbour Bypass will reduce travel times along the Pacific Highway by 12 minutes, bypassing 12 sets of traffic lights.

The project is funded by the Australian and NSW governments to improve safety, while ensuring a more reliable travel and commute experience, FGJV said in a statement on Sunday (June 19).

“We are thrilled to once again partner with the Australian and NSW governments and deliver the final piece of the Pacific Highway upgrade programme on the Mid North Coast.

“We’ll be applying our combined experience delivering highway projects in Australia and internationally to maximise benefits for all road users and the Coffs Harbour and surrounding community,” said Ferrovial Construction Australia managing director Enrique Blanco.

Meanwhile Gamuda Australia executive director Ewan Yee said the joint venture is focused on combining engineering smarts, environmental and sustainability innovation to ensure a positive legacy far beyond construction.

“Partnering with local stakeholders to respect the traditions and customs of the Gumbaynggir people and protecting a unique natural environment will be vital parts of a successful project,” he said.

The project scope includes 14 kilometres (km) of new and upgraded four-lane divided highway from south of Englands Road roundabout to the dual carriageway highway at Sapphire; bypass of Coffs Harbour City from south of Englands Road intersection to Korora Hill; and tunnels through ridges at Roberts Hill, Shephards Lane and Gatelys Road.
https://www.theedgemarkets.com/artic...12-bil-project
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  #252  
Old Posted Jun 28, 2022, 11:10 PM
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Part 49: China | Kelington Group Bhd
Kelington secures RM62m contract for gas hook-up works in Shanghai
Sulhi Khalid June 20, 2022 18:41 pm +08
Quote:
KUALA LUMPUR (June 20): Kelington Group Bhd has secured a contract worth RMB94 million (about RM62 million) from China's largest semiconductor foundry to perform gas hook-up works in Shanghai, China.

In a bourse filing, Kelington said the job was awarded to its wholly owned Kelington Engineering (Shanghai) Co Ltd, and that it will commence this month and be completed by March 2023.

The contract is expected to contribute to its earnings and net assets for the financial years ending Dec 31, 2022 and 2023.

Shares in Kelington finished four sen or 3.51% lower at RM1.10, giving it a market capitalisation of RM709.77 million. The stock has dropped 36.42% since the start of the year.
https://www.theedgemarkets.com/artic...works-shanghai
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  #253  
Old Posted Jun 28, 2022, 11:13 PM
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Part 47: Thailand | Uzma Bhd
Uzma clinches RM44m contract to provide HWU services in Thailand
Sulhi Khalid June 20, 2022 18:35 pm +08
Quote:
KUALA LUMPUR (June 20): Uzma Bhd has bagged a contract worth US$10 million (about RM44.01 million) to provide hydraulic workover unit (HWU) services in Thailand from the PTTEP Group.

The oil and gas service provider said in a filing with Bursa Malaysia that the contract was secured by its wholly owned foreign subsidiary, MMSVS Group Holdings Co Ltd, on May 25.

"The duration of the contract is for a period of three years on a callout basis, where the services shall be provided upon PTTEP's written callout notice," Uzma said, adding the new job is expected to start contributing to its earnings and net assets per share from the financial year ending June 30, 2022 until the expiry of the contract.

Shares in Uzma finished 0.5 sen or 1.3% lower at 38 sen, valuing the group at RM132.06 million. Year to date, the stock has dropped 17.39%.
https://www.theedgemarkets.com/artic...vices-thailand
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  #254  
Old Posted Jun 29, 2022, 12:06 AM
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Part 48: Thailand | Deleum Bhd
Deleum unit incorporates Thai subsidiary to provide software, oilfield and chemical services
Izzul Ikram June 22, 2022 17:04 pm +08
Quote:
KUALA LUMPUR (June 22): Deleum Bhd’s wholly-owned subsidiary Deleum Services Sdn Bhd (DSSB) has incorporated a Thailand-based subsidiary to provide software, oilfield and chemical services in Thailand.

In a filing on Wednesday (June 22), the upstream oil and gas firm said DSSB on Tuesday (June 21) incorporated Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) under the laws of Thailand.

Deleum noted that DOST was incorporated with a registered capital of 1 million Thai baht (about RM124,800) comprising 200,000 shares, and an initial paid-up capital of 250,000 Thai baht (about RM31,200).

“The incorporation of DOST is mainly to facilitate the expansion of the business activities of DSSB and Deleum’s group of companies in the region,” it added.

In a statement, Deleum group chief executive officer Ramanrao Rao Abdullah said the incorporation of DOST is part of the group’s growth strategies.

He added that the group is confident of expanding its footprint in the region by leveraging its years of experience.

“Shareholders of the new entity are listed as DSSB (48%), Ramanrao (1%), Suthee Chivaphongse (50%) and Owan Suzan Bettenhausen (1%), while its board of directors are identified as Ramanrao, Imran Hakim Abdul Aziz and Suthee.

“Ramanrao is holding the shares on behalf of DSSB to satisfy the local legal requirements for three individual shareholders as promoters of DOST,” Deleum said.

At 4.20pm, Deleum was up half a sen or 0.92% to 55 sen, giving the group a market capitalisation of RM222.83 million.
https://www.theedgemarkets.com/artic...mical-services
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  #255  
Old Posted Jun 29, 2022, 12:08 AM
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Part 49: Indonesia | Petroliam Nasional Bhd
Petronas signs production sharing contract for North Ketapang Block
Bernama June 24, 2022 09:56 am +08
Quote:
KUALA LUMPUR (June 24): Petronas North Ketapang Sdn Bhd, a subsidiary of Petroliam Nasional Bhd (Petronas), has signed a production sharing contract (PSC) for the North Ketapang Block located onshore and offshore East Java, Indonesia.

In a statement, Petronas said the company won the North Ketapang Block during the second round of Indonesia Petroleum Bid Round 2021 and holds a 100% equity in the 3,131.8 sq km block with water depths of up to 100 metres below the sea level.

The PSC was signed at the Indonesia's Ministry of Energy and Mineral Resources office, where Petronas was represented by PC Ketapang II Ltd president director Yuzaini Md Yusof, while SKK Migas was represented by the head of SKK Migas, Dwi Soetjipto.

According to Petronas' vice-president of exploration, upstream, Mohd Redhani Abdul Rahman, the signing of the North Ketapang Block further enhances Petronas’ existing upstream portfolio in Indonesia, providing the opportunity to address growing energy demand in the country.

"Petronas is extremely pleased to be awarded this PSC, and we will work closely with our partners as well as SKK Migas to unlock the hydrocarbon potential that lies within the block," he said.

Petronas is also the operator of the Ketapang PSC and North Madura II PSC, offshore East Java, and is a joint-venture partner in six other PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.
https://www.theedgemarkets.com/artic...ketapang-block
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  #256  
Old Posted Jun 29, 2022, 12:11 AM
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Part 50: China | Bioalpha Holdings Bhd
Bioalpha forms JV with Suzhou Medicalsystems to supply supplements in China market
Chester Tay June 22, 2022 19:43 pm +08
Quote:
KUALA LUMPUR (June 22): Bioalpha Holdings Bhd has formed a joint venture (JV) with Shanghai-listed Suzhou Medicalsystems Technology Co Ltd to supply health supplement products in the China market.

In a filing with Bursa Malaysia, Bioalpha said Suzhou Medicalsystems has agreed to invest 6 million renminbi (about RM3.9 million) into the JV for working capital.

Bioalpha said the JV will utilise its four key proprietary formulations to produce supplements that boost immunity, general well-being and anti-ageing.

“At a later stage, subject to the success of the JV partnership, Bioalpha will introduce more and more proprietary formulations to deliver further health enhancement products ranging from supplements that promote longevity to those that assist with menopausal symptoms,” it said.

The group said Suzhou Medicalsystems's distribution network of 600 hospitals across 32 provinces in China will provide Bioalpha's supplements an immediate turnkey customer base, potentially reaching out to the masses immediately.

“Bioalpha is extremely delighted that Suzhou Medicalsystems Technology Company has the confidence to invest in this JV with us to distribute our products,” said managing director William Hon.

“It speaks volumes to the confidence level that a company of this size and reputation is gearing up to take us into Greater China," he added.

Bioalpha closed unchanged at 16 sen, giving it a market capitalisation of RM220.49 million.
https://www.theedgemarkets.com/artic...s-china-market
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  #257  
Old Posted Jun 29, 2022, 3:27 AM
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WORLD 2022
Part 51: Saudi Arabia | Dagang NeXchange Bhd (DNeX)
DNeX signs MoU to explore business synergy with Saudi group
Shazni Ong June 27, 2022 19:32 pm +08
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KUALA LUMPUR (June 27): Dagang NeXchange Bhd (DNeX) on Monday (June 27) signed a memorandum of understanding with Saudi Arabia-based Ajlan & Bros Holding Group (Abilitii) to explore business synergy between the two companies.

DNeX said the companies will look into business collaboration in technology, software products and platforms for facilitating trade, oil and gas production and trade, software development, system integration and consultation services.

They will leverage each other’s expertise to explore business opportunities and consider establishing a joint venture company in Saudi Arabia to achieve collaborative arrangements, besides including investment from Abilitii in specific ventures undertaken by DNeX.

DNeX group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said in a statement that the partnership allows the group to expand its footprint in the Middle East and Northern Africa (MENA) area.

“Together with Abilitii, we will explore the vast opportunities in Saudi Arabia, namely efforts in the country’s modernisation and digitalisation as part of the kingdom’s Vision 2030 through our services and solutions in technology consulting and system integration as well as trade facilitation.

“We intend to bring best practice from Malaysia and experience that we had accumulated through our decades long experience in the sector and find ways to build, complement and enhance the service offerings available in the kingdom with the help of Abilitii,” he said.

He added that the partnership may also lead to both parties to find opportunities in the semiconductor industry in both Malaysia and Saudi Arabia.

DNeX’s share price finished 3.92% or three sen higher at 79.5 sen, bringing a market capitalisation of RM2.51 billion.
https://www.theedgemarkets.com/artic...gy-saudi-group
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Old Posted Jun 29, 2022, 3:58 AM
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WORLD 2022
Part 52: China | Inari Amertron Bhd
Inari investing RM283 mil in JV with CFTC to carry out OSAT services in China
Chester Tay June 28, 2022 20:02 pm +08
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KUALA LUMPUR (June 28): Inari Amertron Bhd is forming a joint venture (JV) with China Fortune-Tech Capital Co Ltd (CFTC) to carry out outsourced semiconductor assembly and test (OSAT) services in China.

In a filing with Bursa Malaysia, Inari said its wholly-owned subsidiary Amertron International Ltd has entered into a JV contract with CFTC (Yiwu) Equity Investment Fund Partnership (Limited Partnership) and CFTC Equity Investment Management (Beijing) Co Ltd.

CFTC (Yiwu) is a private equity fund administered by CFTC, while CFTC Equity is wholly owned by CFTC.

Inari said Amertron International will take up 54.4648% interest in the JV company, called Yiwu Semiconductor International Corporation, while CFTC (Yiwu) will own the remaining 45.5352% stake.

Amertron International will have to contribute RM283.33 million cash into the JV company while CFTC (Yiwu) will inject RM131.78 million of new cash investment, said Inari.

The group said it will fund the RM283 million with proceeds raised from its private placement completed in July last year, which raised RM1.03 billion.

The contract on Tuesday (June 28) came after Inari and CFTC entered into a memorandum of understanding on Oct 18 last year with the intention to set up this JV.

Inari said on Tuesday that the JV will enable it to improve its existing captive business strategy and expand its existing operations in the China market.

“This would enable Inari Group to diversify its product and customer base as well as adding revenue and earning streams with a potential IPO in China at later stages,” it said.

Inari said the JV also represents an opportunity to partner with a strong local technology fund which will help in opening up the China OSAT market for the group.

Inari closed one sen or 0.4% lower at RM2.66, giving it a market capitalisation of RM9.86 billion.
https://www.theedgemarkets.com/artic...services-china
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Old Posted Jun 29, 2022, 5:45 AM
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ASEAN 2022
Part 50: Indonesia | Axiata Group Bhd
Axiata completes RM2.63bil Link Net acquisition
By Asila Jalil - June 22, 2022 @ 7:39pm
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KUALA LUMPUR: Axiata Group Bhd and PT XL Axiata TBK (XL Axiata) has completed the acquisition of a 66.03 per cent stake in PT Link Net Tbk (Link Net) for RM2.63 billion.

In a statement, Axiata said the purchase price stood at 4,800 rupiah per Link Net share or about 8.72 trillion rupiah, which was equivalent to RM2.63 billion for the 66.03 part cent stake.

This valued Link Net at about 13.21 trillion rupiah or about RM3.99 billion.

Post-completion of the acquisition, Axiata Investments (Indonesia) Sdn Bhd (AII), an indirect wholly-owned subsidiary of Axiata, and XL Axiata will hold 46.03 per cent and 20 per cent stakes respectively from the combined equity interest in Link Net previously held by Asia Link Dewa Pte Ltd and PT First Media Tbk.

Axiata will now be obligated to undertake a mandatory tender offer (MTO) to buy the remaining 33.97 per cent in Link Net pursuant to regulatory requirements in Indonesia.

"Details of the proposed MTO will be announced in due course and is expected to be completed in the third quarter of 2022."

Axiata's joint acting group chief executive officers Dr Hans Wijayasuriya and Vivek Sood said the completion of the acquisition marked a significant milestone in the evolution of Axiata's operations in the region.

"As we welcome Link Net into the Axiata family, we strengthen our position as a regional digital champion in the delivery of converged telecommunication services in line with our ethos of 'Advancing Asia'.

"Link Net is among the leading providers of high-speed broadband and cable TV in Indonesia, reaching 2.9 million homes across 23 cities, serving approximately 855,000 broadband and approximately 837,000 cable TV customers respectively.

"The well experienced and accomplished team at Link Net will be accelerating the company's growth opportunities within existing as well as under-served areas," they said.

For the financial year ended December 31, 2021, Link Net's revenue rose 10.3 per cent year-on-year to about 4.5 trillion rupiah or RM1.3 billion.
https://www.nst.com.my/business/2022...et-acquisition
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Old Posted Jun 30, 2022, 6:30 AM
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Part 53: Saudi Arabia | Bintai Kinden Corporation Bhd
Bintai Kinden inks deal to supply piping materials to O&G firms in Saudi Arabia
Surin Murugiah June 29, 2022 13:32 pm +08
Quote:
KUALA LUMPUR (June 29): Bintai Kinden Corporation Bhd is partnering with Marafie Industrial Co to supply piping materials to oil and gas (O&G) related companies in Saudi Arabia.

In a statement to the bourse on Wednesday (June 29), Bintai Kinden said its subsidiary Bintai Energy Sdn Bhd has entered into a marketing and distribution agreement with Saudi Arabia-based Marafie.

Marafie is a company providing total solutions to complicated fabrication projects, from the sales and bidding of the project, to construction engineering, scheduling, quality assurance, logistics, and follow-up with customers.

Bintai Kinden said the Marafie group has established fabrication facilities and offices and regional sales offices in Saudi Arabia.

The company said that under the agreement, Marafie will act as a representative of Bintai Energy to engage in O&G development in the region of Saudi Arabia.

Bintai Energy is a 51:49 joint venture between Bintai Kinden unit Kejuruteraan Bintai Kindenko Sdn Bhd and Petro Flanges & Fittings Sdn Bhd (PFF).

Bintai Energy is a special purpose vehicle identified to supply materials and equipment to the local and international O&G industry including the Middle East via the distributorship channel of PFF.

Bintai Kinden executive director Azri Azerai said the company foresees the demand for piping materials and equipment related to O&G industry to escalate in tandem with the recovery in the global O&G market.

“Saudi Arabia is an oil rich country. It possesses around 17% of the world's proven petroleum reserves.

“We hope to tap on our local partner network and win more O&G contracts in the region,” he said.

Meanwhile, Marafie chairman Abdullah Bayounis said the firm was optimistic with the collaboration with Bintai Energy.

“The company is currently working to get a few contracts in Saudi Arabia,” he said.

At the midday break on Wednesday, Bintai Kinden was trading at 8.5 sen, valuing it at RM72.52 million.
https://www.theedgemarkets.com/artic...s-saudi-arabia
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