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  #161  
Old Posted Jan 13, 2022, 4:00 AM
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Part 5: UK | YTL
YTL is revising its plans for the Brabazon mixed-use development in north Bristol
By Sharen Kaur - January 6, 2022 @ 8:14pm





https://www.nst.com.my/property/2022...-north-bristol
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  #162  
Old Posted Jan 13, 2022, 8:43 AM
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Part 6: Pakistan | Scomi Group Bhd (SGB)
ASEAN 2022
Part 3: Cambodia, Myanmar | Scomi Group Bhd (SGB)
Scomi Group inks MoA with Xair Pulsecor to supply power generation solutions, hybrid power generation system to domestic, international markets
By NST Business - January 13, 2022 @ 2:46pm

Quote:
KUALA LUMPUR: Scomi Group Bhd (SGB) subsidiary Scomi Capital Sdn Bhd (SCSB) has signed a memorandum of agreement (MoA) with Xair Pulsecor Sdn Bhd (XPSB) to collaborate on the supply of power generation solutions and hybrid power generation system.

The MoA entails a joint development of a hybrid power generation system combing genset, battery and solar, provision of power management services such as leasing, operation and maintenance of power generation.

According to a Bursa Malaysia filing today, the deal also encompasses the export of Xair DCR Generator and Xair SMARTGen Controller.

The target market for both companies under the deal will be domestic, which will be on a project-to-project basis for the supply of gensets and any other related system to SCSB for its energy management business, while the export market will include Pakistan, Cambodia and Myanmar.

Both companies agree to leverage on XPSB's knowledge in the business of providing and manufacturing power generators and SCSB's expertise in the business of renewable energy management services.

The MoA has no effect on the share capital and substantial shareholders' shareholdings of SGB and is not expected to have a material effect on the earnings per share, net assets per share and gearing of SGB for the financial year ending 30 June 2022, the filing noted.
https://www.nst.com.my/business/2022...lutions-hybrid
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  #163  
Old Posted Jan 13, 2022, 8:47 AM
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Part 4: Indonesia | Axiata Group Bhd
XL Axiata, MoEngage to deliver personalised digital to over 57mil customers
By NST Business - January 12, 2022 @ 3:47pm

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KUALA LUMPUR: Axiata Group Bhd's Indonesian subsidiary XL Axiata is delivering personalised digital experiences to over 57 million subscribers with MoEngage Inc.

XL Axiata said the partnership allowed MoEngage to drive multi-channel customer engagement via their offerings, AxisNet and myXL.

MoEngage's Insights-led customer engagement platform provides XL Axiata with a deeper understanding of customer behaviour and actionable analysis to boost retention across all touchpoints throughout the customer lifecycle.

Indonesia is among the top 10 countries worldwide for internet usage with more than 185 million active users, 68 per cent market penetration, and monthly average consumption of up to 30 GB (per user).
https://www.nst.com.my/business/2022...7mil-customers
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  #164  
Old Posted Jan 14, 2022, 9:56 AM
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Part 5: Cambodia | Pestech International Bhd
Pestech, Singapore firm to explore collaboration in battery recycling activities
Syafiqah Salim January 13, 2022 19:33 pm +08

Quote:
KUALA LUMPUR (Jan 13): Pestech International Bhd has teamed up with Singapore-based Green Li-Ion Pte Ltd to explore the possibility of collaborating in lithium-ion battery recycling activities and businesses in Malaysia and Cambodia.

In a bourse filing on Thursday, the integrated electrical power technology company said it has entered into a memorandum of understanding (MoU) with Green Li-Ion on the proposed collaboration. Green Li-Ion has developed a patented multi-cathode processor called GLMC-1, which recycles spent lithium-ion batteries directly into 99.9% pure cathodes, speeding up the current recycling process at a lower cost.

"Under the MoU, Pestech will conduct the necessary due diligence on the technical and financial viability of the GLMC-1 LION Batteries recycling solutions, and if found feasible, proceed further with the execution of an exclusive affirmative collaboration agreement for the region with Green Li-Ion for the establishment of a lithium-ion battery recycling facility," it added.

The MoU will remain in effect for one year from now.

"The MoU will have no material effect on the group's earnings, revenue and net assets per share for the financial year ending June 30, 2022 but is expected to contribute positively to its future earnings if the collaboration between the parties is successful," said Pestech.

Pestech shares closed down 0.5 sen or 0.66% to 75.5 sen on Thursday with 1.57 million shares done. It has a market capitalisation of RM716.56 million.
https://www.theedgemarkets.com/artic...ing-activities
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  #165  
Old Posted Jan 20, 2022, 6:18 AM
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Part 6: Hong Kong | Genting
Cruise operator Genting Hong Kong files to wind up company
Kyunghee Park & K Oanh Ha/Bloomberg January 19, 2022 11:37 am +08

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(Jan 19): Genting Hong Kong Ltd has filed to wind up the company in one of the biggest stumbles by a cruise operator globally after the pandemic ravaged the industry and drove its German shipbuilding subsidiary into insolvency.

The filing with the Supreme Court of Bermuda to appoint provisional liquidators comes after the firm “exhausted all reasonable efforts” to negotiate with its creditors and stakeholders, it said in a statement to the Hong Kong stock exchange Wednesday.

Covid-19 has wiped out travel demand and cruise operations globally were among the first to be halted at the start of the pandemic in early 2020. Travel restrictions since then have led to a string of restructurings and insolvencies in the hospitality industry. Genting Hong Kong, which has offered “seacations” amid a broader trend of cruises-to-nowhere, reported a record loss of US$1.7 billion (RM7.12 billion) in May. The latest developments come just as Hong Kong reimposes some of its strictest virus curbs since the pandemic began.

Lim owns a 76% stake in Genting Hong Kong, which was established in the early 1990s when the Malaysian tycoon wanted to diversify risk away from the flagship hilltop casino resort in his home country of Malaysia.
https://www.theedgemarkets.com/artic...-funding-dries
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  #166  
Old Posted Jan 20, 2022, 6:21 AM
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Part 7: Mexico | Coastal Contracts Bhd
Coastal Contracts seeks to provide RM924m financial aid to JV in Mexico to fund gas conditioning plant project
Justin Lim January 19, 2022 22:42 pm +08
Quote:
KUALA LUMPUR (Jan 19): Coastal Contracts Bhd is proposing to provide financial assistance of up to US$220 million (RM924 million) to its joint venture company in Mexico, Coastoil Dynamic SA de CV.

The amount is more than 5% of Coastal Contracts's net tangible assets for the financial year ended June 30, 2021. Thus, the group is required to issue a circular to its shareholders and seek their approval at an extraordinary general meeting.

In a bourse filing, the integrated marine oil and gas service and solution provider said the financial assistance is mainly to fund the construction of the Papan plant project and working capital for the initial operations of the plant.

Papan is a new project awarded to Coastoil Dynamic by state-owned Petroleos Mexicanos (Pemex) to undertake the second Pemex onshore gas conditioning plant project in Tierra Blanca, Veracruz, Mexico.

“The availability of expedient funding by Coastal Group would allay unnecessary delays throughout the construction period of the Papan plant project and to ensure the timely completion of the plant,” the group said, adding that the plant is expected to commence operation in the third quarter of 2022.

“The bulk or US$175 million (79.5%) from the funding would be allocated for the construction of the plant while the remaining US$45 million (20.5%) will be used for contingencies and working capital.

"Upon completion of the Papan plant project, Coastoil Dynamic would potentially have a combined gas conditioning plant capacity of 480 million standard cubic feet per day (mmscfd) working at Ixachi Field. The Papan plant project with the plant capacity of 300 mmscfd is capable of providing gas sweetening, dehydration, dew point control and extraction of liquefied petroleum gas services for Ixachi Field," the group said.

Coastal Contracts said the financial assistance will be a combination of debt participation (comprising loan and subscription of redeemable convertible preferred shares in Coastoil Dynamic) and equity participation through the subscription of Coastoil Dynamics shares.

“The proposed provision of financial assistance is envisaged to be funded via Coastal group’s internally-generated funds, bank borrowings, issuance of bonds and/or project financing,” it added.

The group’s future gearing is expected to increase to 0.67 times from zero gearing, after the project's financial assistance given to Coastoil Dynamic.

Coastal Contracts' total cash and bank balances and short-term investments stood at RM187.95 million and RM111.42 million respectively, as at Sept 30, 2021.

Incorporated in 2019, Coastoil Dynamic is primarily involved in the leasing and subleasing of all kinds of offshore assets related to the oil and gas industry as well as provision of drilling and engineering and other ancillary services to the oil and gas industry. It is a 50:50 joint venture between Coastal Contracts’s subsidiary Coastal Marine Pte Ltd and Nuvoil group's subsidiary Grupo Empresarial Alfair S.A.P.I. de C.V.

The joint venture company was established by both parties with the intention to undertake the construction and operations of an onshore gas sweetening plant project in Veracruz for Pemex. The plant has a production capacity of 180 mmscfd and commenced its operations in July 2021.

Coastal Contracts’ shares price closed down five sen or 2.86% at RM1.70, giving it a market capitalisation of RM910 million.
https://www.theedgemarkets.com/artic...astoil-dynamic

Last edited by nazrey; Jan 20, 2022 at 6:50 AM.
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  #167  
Old Posted Jan 20, 2022, 6:23 AM
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Part 6: Indonesia | Kejuruteraan Asastera Bhd (KAB)
KAB set to acquire mini-hydropower plant in Indonesia
Izzul Ikram January 19, 2022 15:03 pm +08

Quote:
KUALA LUMPUR (Jan 19): Electrical and mechanical engineering services provider Kejuruteraan Asastera Bhd (KAB) is set to acquire a mini-hydropower plant located in North Sumatera, Indonesia.

In a statement on Wednesday (Jan 19), KAB said that its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd (KABEH) had entered into a term sheet agreement with Sarawak Cable Bhd (SCB) to acquire the entire issued share capital of the latter’s Indonesia-based subsidiary, PT Inpola Mitra Elektrindo (PT IME), for a purchase consideration of RM10,000.

“KABEH’s acquisition shall be free from all encumbrances. PT IME will also be released from all liabilities and encumbrances upon the full settlement of the purchase consideration and outstanding dept of up to RM61.5 million.

“As part of the agreement, KABEH is required to undertake a due diligence exercise, which is expected to be completed within three months from the date of the execution of the term sheet,” the group added.

KAB noted that PT IME is a company that designed, constructed, developed and operates a mini-hydropower plant, named Kombih III, with an installed capacity of 11 megawatts.

“It achieved commercial operations on Oct 12, 2021,” KAB added.

According to the group, PT IME has an existing power purchase agreement to supply energy to Indonesian state-owned utility company PT Perusahaan Listrik Negara for a concession period of 20 years.

KAB managing director Datuk Lai Keng Onn noted that this is the group’s maiden venture into the hydropower sector as well as its first foray into Indonesia.

“We are excited to embark on this business journey and see this proposed acquisition of PT IME as being in line with the group’s business direction to expand the income stream and have a strong foothold in our green energy solution business, particularly in the renewable energy (RE) sector,” he added.

Lai said that annually, Kombih III generates approximately 49.056 million kWh, which offsets 26,784 tonnes of CO2 emissions.

He added that the group is confident that the proposed acquisition will yield very profitable returns, which in turn will provide stable and sustainable long-term recurring income for KAB for the next 20 years.

“Upon completion of the acquisition, the asset is projected to contribute at least RM270 million in revenue to the group over the concession period,” he said.

KAB noted that according to Indonesia's National Electricity Master Plan, the ratio of RE for energy resources is anticipated to continue accelerating to 23% by 2025, while the realised amount hit around 14% at the end of 2020.

“Hydropower generation capacity is expected to grow to about 40%,” the group added.

Meanwhile, in a separate filing, SCB said PT IME was identified as a target for sale after it entered into an asset sharing agreement with Hong Leong Islamic Bank Bhd, AmBank (M) Bhd and Bank Muamalat Malaysia Bhd and a trustee to settle debts of around RM124.59 million.

The company said the sale is expected to raise up to RM61.5 million, of which RM59.1 million will be used to clear some of its outstanding debts.

At 2.12pm on Wednesday, KAB had gained one sen or 2.86% to 36 sen, valuing the group at RM640.08 million.

Meanwhile, SCB slipped half a sen or 2.7% to 18 sen, giving it a market capitalisation of RM69.93 million.
https://www.theedgemarkets.com/artic...lant-indonesia

ASEAN 2022
Part 7: Thailand | Perusahaan Otomobil Nasional Sdn Bhd (Proton)
Proton inks MoA to distribute smart Automobile's EVs in Malaysia, Thailand
Izzul Ikram January 19, 2022 19:04 pm +08

Quote:
KUALA LUMPUR (Jan 19): Perusahaan Otomobil Nasional Sdn Bhd (Proton) is planning to introduce premium electric vehicle (EV) brand smart Automobile Co Ltd's range of new EVs into the rapidly growing ASEAN automotive market.
In a statement Wednesday (Jan 19), Proton said it and smart Automobile have signed a memorandum of agreement (MoA) which will see both parties collaborating via Proton Edar, who will be appointed as the importer, distributor and dealer for smart Automobile in Malaysia and Thailand. At the same time, smart Automobile (Nanning) Sales Co Ltd — a wholly-owned unit of smart Automobile — will fulfil the role of a gateway for smart Automobile to the region, said Proton.

smart Automobile is a joint venture between German and Chinese automotive groups Mercedes-Benz AG and Zhejiang Geely Holding Group Co Ltd founded in 2019, which they plan to develop into a world-leading, premium EV technology brand.

“With the signing of the MoA, Proton is taking its first steps on its New Energy Vehicle strategic journey. By collaborating with smart Automobile, we will be able to gain experience in the selling, servicing, and charging of new EVs and build up the skill sets we require to be a force in Asean’s rapidly expanding new EV sector. This is also an opportunity to tap on smart’s customer base, which will open up more opportunities for the Proton brand,” said Proton chairman Datuk Seri Syed Faisal Albar.

Proton also shared, citing forecasts by the International Renewable Energy Agency, that the new EV market will grow to around 10 million units in Southeast Asia by 2025, and that smart Automobile, with its new product portfolio due to be launched in the coming years, will be well placed to take advantage of growth in the region.

“The MoA with Proton Edar is for the company to establish a multi-level sales and service network in Malaysia and Thailand, as well as a brand experience centre and a number of sales locations, providing local markets with sales and after-sales services for smart vehicles.

“With smart’s ‘dual-home’ (Europe and China) business strategy, the company already covers two of the world’s largest automotive markets. Now, as part of our forward-looking strategy, we are joining hands with Proton in Southeast Asia. With minimal investment, the agreement will allow us to enter the Thai and Malaysian markets in the near future.

"As our regional partner, Proton has a first-class corporate reputation, extensive experience and valuable knowledge of local operations. We look forward to working together to provide consumers in Southeast Asia with a new premium, intelligent, all-electric driving experience,” said smart Automobile's chief executive officer Tong Xiangbei.

According to Proton, the MoA with Proton Edar is for the company to establish a multi-level sales and service network in Malaysia and Thailand, as well as a brand experience centre and a number of sales locations, providing local markets with sales and after-sales services for smart vehicles. "Currently, there are no plans to collaborate beyond the tenets of the agreement," it added.
https://www.theedgemarkets.com/artic...aysia-thailand

Last edited by nazrey; Jan 20, 2022 at 6:42 AM.
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  #168  
Old Posted Jan 24, 2022, 1:48 AM
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Part 8: Thailand | CIMB Group Holdings Bhd
CIMB Thai posts stronger net profit for FY21
Bernama January 21, 2022 14:40 pm +08
Quote:
KUALA LUMPUR (Jan 21): CIMB Group Holdings Bhd's 94.83% indirectly held subsidiary, CIMB Thai Bank Public Co Ltd, saw net profit soar to 2.44 billion Thai baht (RM309.4 million) in its financial year ended Dec 31, 2021 (FY21), an increase of 89.1% or 1.15 billion baht from FY20.

The stellar improvement was mainly attributed to better cost control, resulting in an 8.1% decline in operating expenses and a 25.7% decrease in expected credit losses, despite a 3.9% drop in operating income.

President and chief executive officer Paul Wong Chee Kin said CIMB Thai's operating income declined by 579.7 million baht to 14.35 billion baht from the drop in net interest income of 988.5 million baht due to the lower interest income on loans, as well as a decline in hire purchase business from the lower credit expansion.

This was partially offset by the increase of 337.6 million baht in net fee and service income driven by higher fee income from insurance and mutual fund brokerage, he said in a statement.

For FY21, operating expenses decreased by 723.3 million baht, largely due to better optimisation of cost management and this consequently improved the cost-to-income ratio to 57% for FY21 compared with FY20's 59.6%.

Meanwhile, net interest margin over earning assets stood at 3.1% for 2021, compared to 3.2% for 2020, arising from lower interest income on loans and the hire purchase business.

Wong said gross non-performing loans (NPLs) stood at 7.9 billion baht, with a lower equivalent gross NPL ratio of 3.7% compared with 4.6% as of Dec 31, 2020.
https://www.theedgemarkets.com/artic...et-profit-fy21
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  #169  
Old Posted Jan 26, 2022, 1:18 AM
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Part 9: Vietnam | Hibiscus Petroleum Bhd
Hibiscus Petroleum completes US$212.5m acquisition of FIPC from Repsol
Tan Siew Mung January 25, 2022 09:58 am +08
Quote:
KUALA LUMPUR (Jan 25): Hibiscus Petroleum Bhd said on Tuesday (Jan 25) that its indirect wholly-owned subsidiary Peninsula Hibiscus Sdn Bhd had successfully completed the acquisition of the entire equity interest in Fortuna International Petroleum Corporation (FIPC) from Repsol.

Hibiscus Petroleum noted in a statement that out of the purchase price of US$212.50 million (about RM890.06 million), the net amount paid at completion was US$123.65 million after taking into account various adjustments, including the deposit paid of US$15 million.

It said that the completion came shortly after all conditions were fulfilled as announced on Jan 20, 2022.

According to Hibiscus Petroleum, the asset portfolio comprises interests and operatorship under five production sharing contracts in Malaysia and Vietnam.

Hibiscus Petroleum said the group’s average daily oil and gas production is projected to increase almost threefold.

As the operator of the newly acquired assets, it added that the group is well positioned to build on the successful operational track record of its other producing assets in the UK and Malaysia.

“The completion of this acquisition brings to a close the process which began when we first bid for these assets and opens a new chapter in the group’s next phase of growth,

“We welcome on board the Repsol team into the Hibiscus family and look forward to working together on further enhancing value from these assets in 2022 and beyond,” said Hibiscus Petroleum managing director Dr Kenneth Gerard Pereira.

According to him, almost 50% of the production comprises gas, and the addition of gas production is expected to present a better balance to the group’s asset portfolio in terms of price stability, markets and operations.

He also said such diversification represents a key aspect of the group’s energy transition strategy as natural gas is regarded as an important bridging fuel as the world transits to a lower carbon energy mix.

“Finally, this transaction has been made possible with the strong support of our shareholders, industry regulators both in Malaysia and Vietnam as well as our business partners.

“Our current partnership with Petroliam Nasional Bhd (Petronas) and Petronas Carigali Sdn Bhd will be further strengthened, and we are excited to forge a new working relationship with PetroVietnam as we expand our geographic footprint into Vietnam,” he said.

At 9.38am on Tuesday, Hibiscus Petroleum was unchanged at 88 sen, valuing the group at RM1.77 billion.

The stock was halted from trading from 9am to 10am following the announcement.
https://www.theedgemarkets.com/artic...on-fipc-repsol
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  #170  
Old Posted Jan 27, 2022, 5:41 PM
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Part 10: Indonesia | Axiata Group Bhd
Axiata to acquire 66% stake in Indonesia’s Link Net for RM2.5 bil
Ahmad Naqib Idris January 27, 2022 19:37 pm +08
Quote:
KUALA LUMPUR (Jan 27): Axiata Group Bhd will be acquiring a 66.03% stake in Indonesia’s PT Link Net Tbk for a total cash consideration of 8.72 trillion rupiah (about RM2.55 billion).

In a filing with the bourse, the group said its indirect wholly-owned subsidiary Axiata Investments (Indonesia) Sdn Bhd (AII) and PT XL Axiata Tbk, an indirect 61.48% subsidiary of the group, have entered into a conditional share purchase agreement with Asia Link Dewa Pte Ltd (ALD) and PT First Media Tbk (FM) to acquire the 1.82 billion shares in Link Net.

Upon completion of the acquisition, AII will be obligated to undertake a proposed mandatory tender offer (MTO) as per the regulations of the Indonesian Financial Services Authority.
https://www.theedgemarkets.com/artic...k-net-rm25-bil


https://www.axiata.com/investor-rela...-business.html
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  #171  
Old Posted Feb 1, 2022, 12:28 AM
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Part 11: Thailand | Genetec Technology Bhd
Exciting prospects for Genetec in Thailand thru Asia Precision partnership, says CGS-CIMB Research
By Ayisy Yusof - January 27, 2022 @ 9:22am



Quote:
KUALA LUMPUR: Genetec Technology Bhd's participation in Thailand's electric vehicle (EV) ecosystem development via a potential partnership with Asia Precision Public Company Ltd (APCS) could bring exciting prospects to the company.

CGS-CIMB Research said Genetec might leverage APCS' contract manufacturing service of precision metal parts for automotive customers.

"We gather that APCS supplies battery pack covers for a leading renewable energy player in Thailand, whose 1GWh lithium-ion battery plant in Thailand recently commenced operations," it said in a research report today.

CGS-CIMB Research said Genetec had recently secured RM60 million worth of new orders, bringing its orderbook to RM198 million.

Of the total, RM50 million are related to the EV and energy storage (ES) and e-mobility segments, and the remaining to the hard disk drive segment.

"Most of the new orders for the EV and ES segment are related to the pilot line for its North America customer's ES expansion plan in California."

CGS-CIMB Research said Genetec expected more order replenishment in EV and ES and e-mobility solutions from its North America EV and tier I automotive customers in the financial year ending March 31, 2023 (FY23).

CGS-CIMB Research has reiterated an 'Add' call for Genetec with a higher target price of RM4.30, with earnings per share rising to eight per cent between FY22 and FY24, after accounting for higher-order replenishment.
https://www.nst.com.my/business/2022...rship-says-cgs
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  #172  
Old Posted Feb 15, 2022, 12:05 PM
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Part 8: Australia | Hibiscus Petroleum Bhd
Hibiscus Petroleum's associate secures exploration permit in Australia
Justin Lim February 04, 2022 15:50 pm +08
Quote:
KUALA LUMPUR (Feb 4): Hibiscus Petroleum Bhd's associate company in Australia, 3D Oil Ltd (TDO), has been awarded a VIC/P79 exploration permit in Australia.

In a filing with the local bourse, Hibiscus said the permit in the offshore Otway Basin was awarded by the National Offshore Petroleum Titles Administrator.

The firm said the 2,576 square km permit is located next to the largest gas fields in the offshore Otway Basin, Thylacine and Geographe, and contains the highly prospective Vanguard Prospect.

"An exploration well commitment during the first three years of the work programme demonstrates the company's high confidence in the potential of Vanguard and aligns with planned drilling activities in the basin," it added.

Vanguard has a best estimate prospective resource of 161 billion cubic feet (Bcf) (in-permit), supported in part by Direct Hydrocarbon Indicators (DHIs), including multiple flatspots and amplitude anomalies.

The basin has witnessed a 100% success rate for almost two decades due to the identification of DHIs.

The permit adds to an already strong portfolio of leads and prospects in the area that will likely further grow after the processing and interpretation the Sequoia 3D Marine Seismic Survey (MSS), recently acquired in nearby T/49P (owned 20% TDO) by operator ConocoPhillips Australia (COPA), it added.

Hibiscus said the work programme for VIC/P79 was designed to rapidly exploit an existing opportunity in the permit via one exploration well at Vanguard Prospect in permit year three, after the reprocessing, merging and interpretation of 630 square km of existing 3D seismic data.

"Reprocessed data will also support geological and geophysical studies of additional leads already identified. The Secondary Term will focus on adding additional value by exploring the large, underexplored region to the west. This will be achieved by acquiring and processing 1000 square km of 3D seismic data in Permit Year 5 with the intention of searching for additional closures," it noted.

Hibiscus' unit Oceania Hibiscus Sdn Bhd holds an 11.7% equity interest in TDO.

Shares in Hibiscus rose by as much as 7% to RM1.07 in active Friday afternoon trade. At 2.45pm, the stock pared some of its gains to RM1.05, still up 5% or five sen.

There were 46.23 million shares exchanging hands so far, more than two times compared with its 200-day average trading shares of 17.75 million shares.
https://www.theedgemarkets.com/artic...rmit-australia
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  #173  
Old Posted Feb 15, 2022, 12:15 PM
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Part 12: Indonesia | Caely Holdings Bhd
Lingerie maker Caely Holdings to set up JV in Indonesia to ramp up production
Farhana Poniman Bernama February 06, 2022 11:52 am +08
Quote:
GEORGE TOWN (Feb 6): Main market-listed Caely Holdings Bhd hopes to set up a joint-venture (JV) in Indonesia this year to increase its production capacity to cater to the growing global demand for lingerie.

Chief executive officer Gok Ching Hee said the company is currently in the midst of finalising the terms and conditions of the agreement with a potential JV partner, that would then invest in a plant in the republic.

“Our JV partner will invest in the plant, which will likely be ready in May or June this year. We target to sign the JV agreement by the end of March,” he told Bernama.

Gok said Caely’s current main export destinations for its original equipment manufacturer undergarment products are Germany, the United States and Canada, however, it has recently been getting more enquiries from companies in Turkey, France and Australia.

He pointed out that the enquiries from these companies were already double Caely’s existing production capacity, which led to the company's decision to expand further, with the plant in Indonesia aiming to increase capacity threefold, compared with its factory in Teluk Intan, Perak.

“We believe that this recent large amount of orders we are getting is due to companies shifting away from sourcing their products in China and that we are benefitting from the trade war in the international arena.

“Judging by the increasing momentum of orders we are getting, we are confident that we will use up the capacity of the Indonesian plant,” he said.

Caely, which was established in 1986 to produce women's intimate apparels, had allocated RM5 million for working capital in October last year to diversify its products including the production of fabric face mask.

Gok said the company would also utilise part of this investment to produce active wear, nightwear and kids wear, soon.

“We have signed a licensing agreement with Disney and this has opened a lot of opportunities for us because we can produce Disney brand apparels,” he said.

He added that the company had planned to eventually move its lingerie manufacturing to Indonesia, while its Malaysian plant would focus on producing face masks and other apparels.
https://www.theedgemarkets.com/artic...amp-production
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  #174  
Old Posted Feb 15, 2022, 12:42 PM
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Part 9: Brazil | Yinson Holdings Bhd
Yinson says final acceptance of RM22b Petrobras contracts to take place in 4Q24
Adam Aziz February 08, 2022 14:26 pm +08
Quote:
KUALA LUMPUR (Feb 8): Yinson Holdings Bhd said on Tuesday (Feb 8) that the final acceptance of the group's estimated US$5.2 billion (about RM21.7 billion) floating production storage and offloading (FPSO) contracts with Brazil national oil company Petrobras is expected to take place in the fourth quarter of 2024 (4Q24) and that the FPSO, which will be based offshore Brazil, is expected to commence operations upon achieving final acceptance.

In a statement to Bursa Malaysia, Yinson said its indirect wholly-owned subsidiaries Yinson Production Pte Ltd, Yinson Bergenia Production BV and Yinson Bergenia Serviços de Operação Ltda had on Monday entered into the contracts with Petrobras.

Yinson said the signing of the two contracts, of which one is for the provision of the FPSO while the other involves the operations and maintenance of the FPSO, "is pursuant to the binding letters of intent signed on Nov 12, 2021".

"We refer to our announcement dated Nov 15, 2021 (earlier announcement).

"Pursuant to the contracts, the term of the [FPSO] charter is for a fixed period of 8,218 days or approximately 22.5 years and there is no option to extend the term of the charter thereafter," Yinson said.

In the earlier announcement, Yinson said that following the award of the letters of intent on Nov 12, 2021 by Petrobras to Yinson Production, Yinson Bergenia Production would enter into the FPSO charter contract with Petrobras for the provision of the FPSO while Yinson Bergenia Serviços would enter into the service contract with Petrobras for the provision of operation and maintenance services for the FPSO.

At Bursa's 12:30pm break on Tuesday, Yinson's share price settled down seven sen or 1.22% at RM5.68 to give the company a market capitalisation of about RM6.25 billion.

Yinson's latest-reported number of issued shares stood at 1.1 billion.
https://www.theedgemarkets.com/artic...-place-4q-2024
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  #175  
Old Posted Feb 15, 2022, 1:26 PM
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Part 10: Australia | YTL Power International Bhd
YTL Power to dispose of entire stake in Australia’s ElectraNet for RM3 bil
Ahmad Naqib Idris February 08, 2022 20:38 pm +08
Quote:
KUALA LUMPUR (Feb 8): YTL Power International Bhd is disposing of its entire 33.5% equity interest in Australia’s ElectraNet Pty Ltd for A$1.03 billion (RM3.06 billion), as the group looks to realise gains from the two-decade-old investment.

In a filing with the bourse, the group said the stake sale by its wholly-owned indirect subsidiary YTL Power Investments Ltd (YTLPIL) to Australian Utilities Pty Ltd also includes 3,300 shareholder loan notes, 2,550 preferred loan notes and 26.28 million subsidiary shareholder loan notes issued to YTLPIL.

The sale consideration will be paid in cash and represents a premium of A$767.84 million to the carrying value of the investment in ElectraNet of A$258.16 million, based on YTL Power’s audited accounts for the financial year ended June 30, 2021, the group said.

Upon completion of the disposal, the group will recognise a gain of RM2.21 billion, based on the carrying value of the investment as at June 30, 2021.

ElectraNet operates the high voltage electricity transmission system throughout South Australia state under a 200-year exclusive lease granted by the state government.

YTL Power acquired the 33.5% stake in December 2000 for A$58.5 million (RM122.9 million based on the exchange rate then), which was its first foray offshore, building on its experience as Malaysia’s first independent power producer with its two power stations in Paka, Terengganu, and Pasir Gudang, Johor.

“The proposed disposal represents an opportunity to realise gains from a mature investment, further optimise the balance of assets in its business portfolio, and increase the group’s flexibility to deploy its cash reserves towards viable new businesses that complement its existing assets,” the group said.

It added that the disposal will contribute positively to the value of the group, barring unforeseeable circumstances.

YTL Power intends to use the proceeds raised from the sale for future investments to be identified, as well as for general corporate purposes.

The disposal is expected to be completed by the end of the second quarter of 2022, it said.

YTL Power’s share price rose 0.5 sen or 0.8% to 60 sen on Tuesday (Feb 8), giving it a market capitalisation of RM4.9 billion.
https://www.theedgemarkets.com/artic...tranet-rm3-bil
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Old Posted Feb 15, 2022, 1:27 PM
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Part 11: China | Aemulus Holdings Bhd
Aemulus in talks with China partner to inject capital into JV
February 10, 2022 19:03 pm +08

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KUALA LUMPUR (Feb 10): ACE Market-listed automated test equipment manufacturer Aemulus Holdings Bhd is looking to inject capital into Tangming Shengshi Technology (Jiashan) Co Ltd (TMSS), which is involved in the development and sales of semiconductor equipment and the provision of design consultancy services.

In 2020, Aemulus had entered into an agreement with China-based technology firm Tangren Microtelligence Technology (Jiashan) Co Ltd to form a 40:60 joint venture — TMSS — to enter the China market.

In a bourse filing on Thursday (Feb 10), Aemulus said its wholly-owned subsidiary Aemulus Corp Sdn Bhd has entered into a memorandum of understanding (MoU) with Tangren to discuss the details in relation to the capital injection into TMSS.

"Aemulus and Tangren agree to a capital injection into TMSS at the ratio of 40% and 60% respectively within three months," it added.

According to Aemulus, there is no contract value stated as this MoU marks the intention of the parties to a capital injection into TMSS. "The sum of capital injection will be determined and finalised by both parties."

It added that the MoU is not expected to have a material effect on the group's earnings, net assets and gearing for the financial year ending Sept 30, 2022.

"Should the agreement materialise, it is expected to contribute positively to the future earnings of the group," it said.

It is worth noting that Aemulus executive director and chief executive officer and major shareholder Ng Sang Beng is also a director in TMSS. Ng was nominated by Aemulus to sit on the board of TMSS to represent the interest of the group in TMSS.

Aemulus shares closed down 1.5 sen or 1.52% at 97.5 sen on Thursday, bringing a market capitalisation of RM647.49 million.
https://www.theedgemarkets.com/artic...ect-capital-jv
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Old Posted Feb 15, 2022, 1:30 PM
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Part 12: Australia | Mulpha International Bhd
Mulpha International secures A$67.2m loan facility for an Australian project
Seah Eu Hen February 11, 2022 19:01 pm +08

Quote:
KUALA LUMPUR (Feb 11): Mulpha International Bhd (MIB) said its indirect wholly-owned subsidiary Circa 1 Pty Ltd has accepted an A$67.2 million (RM201.5 million) loan facility from the National Australia Bank Ltd for a property development project in New South Wales, Australia.

In a bourse filing on Friday, MIB said that the loan facility is to fund the development of a seven-storey strata office and healthcare building owned by the JMJ Trust. The loan facility is obtained jointly with JMJ Properties Australia Pty Ltd, the trustee of JMJ Trust.

The project, named “The Bond” is located at 8, Elizabeth Macarthur Drive, Bella Vista, New South Wales, Australia. JMJ has appointed Circa 1 to provide project management and development management services for the development of the project.

The development management agreement stipulates that Circa will receive a development management fee from the profits generated from the sale of the property upon providing project management and development management services.

At Friday’s market close, MIB shares were one sen or 0.41% lower at RM2.41, giving the property developer a market capitalisation of RM749.94 million based on 311.18 million outstanding shares.

Based on Bloomberg data, MIB is trading at 0.22 times its price-to-book value with a net tangible asset value of RM11.01 per share.
https://www.theedgemarkets.com/artic...ralian-project
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Old Posted Feb 16, 2022, 1:31 AM
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Part 13: Australia | Gamuda Bhd
Gamuda likely to secure contracts worth billion this year from domestic and Australia, says CGS-CIMB Research
By Ayisy Yusof - February 4, 2022 @ 9:45am

Quote:
KUALA LUMPUR: Gamuda Bhd could secure contracts worth billions from several developments in 2022, namely the potential reactivation of the Mass Rapid Transit III (MRT3), a new bypass construction package in Australia and the revival of the Penang South Islands (PSI) land reclamation.

CGS-CIMB Research said Mass Rapid Transit Corp Sdn Bhd might relaunch the MRT3 project worth between RM20 billion and RM30 billion with civil works tender in the first half of 2022.

There are potential awards for the ongoing bid in Australia, averaging up to RM6 billion and the tender process for one new bypass construction package in New South Wales, for which the Gamuda- Ferrovial joint-venture (JV) has emerged as among the three shortlisted bidders.

The research firm said Gamuda could also benefit from the government's review of the divestment of the company's domestic highway assets via a highway trust proposal.

CGS-CIMB Research said Gamuda would still be among the main contenders for the MRT 3 in the civil works tender rounds, which could be launched in the second quarter of 2022, even with a potential change in the structure of the civil works component.

"We are positive the underground scope will likely be tendered as one single package as this bodes well for the MMC-Gamuda JV given its strong track record and credentials in the tunnelling scopes of MRT 1 and MRT2."

CGS-CIMB Research said Gamuda's end-October 2021 net gearing of 0.17 time translated into an additional borrowing capacity of over RM4 billion, based on the company's self-imposed net gearing limit of 0.7 times.

"This allows ample room for Gamuda to participate in the private sector funding component of the MRT 3 project."

CGS-CIMB Research said the PSI land reclamation project could also be launched in the second half (2H) of 2022, following the earlier setback related to a court ruling in favour of a fishing community's appeal to revoke the environmental impact assessment (EIA) approvals.

"We gather the progress is back on track, with resubmission of the project's EIA application targeted by March 2022 and likely approval by mid-2022, and the start of works is targeted for 2H of 2022."

The research firm said Gamuda's share price is at attractive levels and has reiterated an Add call with a target price of RM3.88.
https://www.nst.com.my/business/2022...-and-australia
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Part 13: Thailand | Fraser & Neave Holdings Bhd
F&N performs as expected in Q1, says Kenanga Research
By Farah Adilla - February 9, 2022 @ 9:16am

Quote:
KUALA LUMPUR: Fraser & Neave Holdings Bhd's first quarter (Q1) net profit of RM93 million came within expectations, making up 23 per cent of full-year estimates, Kenanga Research said.

The firm said this was due to strong showing from F&N's Thai food and beverage (F&B) as Malaysian operation was disrupted by the December 2021 floods.

"As expected, F&N saw a robust top-line performance especially its Thai operation on account of the reopening of the economy and incoming festivities.

"Malaysian operation was affected by the December floods which disrupted domestic and export sales.

"Nevertheless, with the reopening of the economy and incoming festivities, we expect sales to continue to be robust in the coming quarters, but downside pressure on margins looks to persists for the remainder of the financial year 2022," it said.

Based on the easing of restrictions coupled with incoming festivities and pent-up demand, Kenanga Research expects robust and sustained earnings ahead.

F&N's investment into the Sri Nona Group has proven its worth in the 2021 festive season which is likely to continue in the coming festivities.

"Sri Nona is providing the platform to venture into the halal food segments, and more product offerings and also likely to expand its halal exports in Middle East and North Africa region and Asean.

"Despite the prevalent headwinds, the encouraging momentum of recovery of economic activities will continue to drive sales for year ahead, particularly for beverages and ready-to-drink business, out-of-home and hotel, restaurant and cafe (HORECA) channels."

Kenanga Research added that rising input costs was the only dampening factor with leading indicators showing input prices looking only to recede in the second half of 2022.

Kenanga Research has maintained its "Outperform" call on F&N, with a higher target price of RM34.25 from RM32.45 previously.
https://www.nst.com.my/business/2022...nanga-research
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  #180  
Old Posted Feb 18, 2022, 12:32 AM
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Part 14: Singapore | Genting
Genting Singapore reports 2HFY21 earnings of S$95.1 mil; maintains dividend at one Singaporean cent per share
The Edge Singapore February 18, 2022 01:19 am +08
Quote:
SINGAPORE (Feb 17): Genting Singapore has reported earnings of S$95.1 million for 2HFY21 ended Dec 2021, down 49% y-o-y.

Revenue in the same period was down 17% y-o-y to S$512.5 million, as the resort operator was hit by lower visitor numbers amid a resurgence in Covid-19 cases.
https://www.theedgemarkets.com/artic...ngaporean-cent
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