Bumi Armada Achieves 35% Revenue Growth In 9M11 Offshore oil field services provider Bumi Armada realised a 34.8% gain in revenue to RM1.17 billion for 9M11. The improved performance was led by higher sales from Offshore Support Vessels (OSVs) (+10.4%) and Transport and Installation (+54.8%) segments coupled with the new…
Malaysia And Singapore To Join Hands In $5 Billion Financing Deal The state-owned investment companies of Malaysia and Singapore namely Khazanah Nasional (Khazanah) and Temasek Holdings (Temasek) respectively, had recently hired banks to arrange $5 billion (RM12.2 billion) of property development loans. The loans, structured as a 5-year bullet facility…
PLUS Expressways’ New Owners Conclude New Toll Concession Agreements PLUS Expressways’ new owners, UEM Group (UEM) and Employees Provident Fund (EPF) have agreed to waive the RM2.9 billion of outstanding compensation owed by the government under the recently concluded toll concession agreements. Under the new agreement, there will be a…
Petronas Hits ‘Black-Gold’ Well Offshore Sahab Petronas Carigali (Carigali), a wholly owned subsidiary of Malaysia’s national oil company Petronas Nasional, has discovered oil 100km off the north-west coast of Kota Kinabalu. The discovery was found via the Wakid-1 well within Block 2G-2J whereby Carigali is the sole equity holder as…
Potential Interest Rate Cut In 1Q12 CIMB Investment Bank revised the overnight policy rate (OPR) for end-2012 to 2.50%-2.75% from 3%, reporting that a cut in the benchmark interest rate may come early next January if domestic economic conditions deteriorate due to global economic uncertainties. However, some economists expect OPR…
JCorp And UDA Holdings To Develop Two Parcels of Land In Tampoi Valued At RM280 million Johor Corporation (JCorp), Johor’s state investment arm and UDA Holdings, a Malaysia government entity tasked with urban development will come together and undertake mixed development in Tampoi, Iskandar Malaysia. The two developments, whose gross…
Economic Transformation Programme Hits RM177.1 Billion in Committed Investments Economic Transformation Programme (ETP), an initiative from the Malaysian government, have received RM177.1 billion of committed capital up to year 2020, an investment when translated to gross national income (GNI) terms to be RM237.2 billion. To this end, Malaysia had opened…
Malaysia Aims To Reclaim Number 1 Rubber Producer Malaysian Rubber Products Manufacturers Association executive director Kong Ping Yee noted that Malaysia can become the world’s number one rubber producer again with efforts made by the government to open up land space in Sabah and Sarawak. The government has assigned Rubber…
Latin American Interest In Malaysia’s Consumer Market Chilean Export Promotion Bureau (ProChile), the Trade Commission of Chile, will be leading a trade delegation of more than 15 Chilean firms to an event in Kuala Lumpur. The ‘Flavours of Chile’ event, hosted by the ProChile and the Embassy of Chile in…
Melati Ehsan Wins Housing Projects Worth RM298 Million Turnkey contractor Melati Ehsan Holdings announced that its wholly-owned subsidiary Pembinaan Kery has accepted two letters of award from the Housing and Local Government Ministry to undertake two housing projects worth a total of RM298 million. The first project, valued at RM82.1…
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