Indonesia approves Kuwaiti explorer to develop Anambas block in Natuna Sea
KUFPEC will invest about $1.54 billion to develop the Anambas block to produce 55 million standard cubic feet a year with an estimated 185 billion cubic feet of total gas sales, upstream oil and gas regulator SKK Migas said.
The company aims to reach a final investment decision early next year with production expected to start in 2028, country manager Sara Al-Baker told reporters.
The company sees Indonesia as a strategic location for expansion, its chief executive, Eisa Al-Maraghi, said.
"We are working with other partners in Indonesia to reach a mutual agreement to look into more assets to be acquired," Al-Maraghi told a press conference, but declined to give details.
The Anambas development includes installation of subsea pipelines connecting the field to existing facilities in the West Natuna Transportation System, KUFPEC said.
It is expected to deliver gas to both domestic and regional markets when it begins production, the company added.
Anamabas will be KUFPEC's second project in the gas-rich Natuna Sea. It has a 33% participating interest in Natuna Block A, which supplies gas to Singapore.
The company, which has stepped up activities in Indonesia in recent years, is part of two separate consortia that signed contracts last year to explore Indonesia's Melati and Amanah blocks.
Elsewhere in the Natuna Sea, KUFPEC has completed its joint-study on Natuna D-Alpha block and is reviewing the result of the study, Al-Baker said.
Natuna D-Alpha has one of world's biggest gas resources in the world, but has high carbon dioxide (CO2) content.
Once a member of OPEC, Indonesia is now a net importer of oil due to ageing wells and lack of investment, and President Prabowo Subianto is keen to reverse the trend and reduce reliance on imported energy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
7 hours ago
- Zawya
India plans credit guarantees for small firms, exporters hit by US tariffs, sources say
India is planning to provide credit guarantees for loans overdue up to 90 days to small businesses and exporters, amid higher tariffs imposed by the U.S., two government sources told Reuters. The federal finance ministry has proposed to provide 10-15% credit guarantees to banks for advancing loans to stressed small businesses, with turnover up to 5 billion rupees, that fall under the Reserve Bank of India's (RBI) so-called special mention accounts (SMA), the sources said. Loans that have not been repaid for 0-90 days fall under RBI's SMA 0-2 category, but are not classified as non-performing assets. India's small businesses still struggle with limited access to timely and adequate formal credit. The government will allocate about 40 billion rupees for providing guarantees to banks, both the sources said. The scheme is designed for firms that are stressed due to external factors "beyond their control", and the eligibility criteria is being firmed up, according to the sources. The criteria will cover small exporters who are currently facing uncertainties due to higher tariffs imposed by the U.S., a key market for Indian exports, the second source said. The government estimates that about 55% of its merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration. The finance ministry did not immediately respond to an email seeking comment. Separately, the Indian government is preparing a scheme to provide term loans for small exporters that would be backed by a government guarantee of a maximum 70-75%, the second source said. The scheme was announced by India's finance minister in the budget for 2025/26. (Reporting by Nikunj Ohri; Editing by Janane Venkatraman and Anil D'Silva)
Zawya
8 hours ago
- Zawya
Sunlight Real Estate Investment Trust ("Sunlight REIT") Interim Results for the Six Months Ended 30 June 2025
HONG KONG SAR - Media OutReach Newswire - 11 August 2025 - Henderson Sunlight Asset Management Limited (the " Manage r") announces the interim results of Sunlight REIT for the six months ended 30 June 2025 (the " Reporting Period"). Sunlight REIT recorded a 4.8% year-on-year decline in revenue to HK$391.2 million for the Reporting Period. Net property income was down by 5.4% to HK$307.4 million and the cost-to-income ratio was 21.4%. Distributable income was relatively sturdy with a mild drop of 1.8% to HK$168.6 million, reflecting the positive impact from an approximately 14% savings in cash interest expense to HK$91.5 million. The Board has resolved to declare an interim distribution per unit of HK 9.1 cents, representing a payout ratio of 93.8% and an annualized distribution yield of 8.1% based on the closing price of HK$2.26 on the last trading day of the Reporting Period. At 30 June 2025, the appraised value of Sunlight REIT's real estate portfolio was HK$17,630.5 million. Total assets stood at HK$18,220.2 million, while its net assets attributable to unitholders came in at HK$12,634.1 million, implying a net asset value of HK$7.27 per unit. Operating Highlights The overall occupancy rate of Sunlight REIT's portfolio at 30 June 2025 was 89.2% as compared to 91.3% at 31 December 2024, of which the office occupancy rate dropped to 90.0%, while the retail occupancy rate came in at 87.6%. At 30 June 2025, the passing rent of the office portfolio declined mildly by 1.2% from six months ago to HK$31.7 per sq. ft., while that of the retail portfolio was stable at HK$65.5 per sq. ft. At 30 June 2025, the occupancy rate of Dah Sing Financial Centre was 90.6%, while its passing rent remained steady at HK$36.3 per sq. ft. As for the retail portfolio, Sheung Shui Centre Shopping Arcade recorded a lower occupancy rate of 87.0% at 30 June 2025, but its passing rent registered a slight improvement to HK$105.2 per sq. ft. Meanwhile, due to the departure of an education tenant in the second quarter of 2025, the occupancy rate of Metro City Phase I Property slipped to 87.1%, while its passing rent was HK$53.9 per sq. ft. Mr. Au Siu Kee, Alexander, Chairman of the Manager, said, "Hong Kong's commercial property market has yet to benefit from a more stable economic setting as the ongoing headwinds remain stiff, and the pressure of negative rental reversion is likely to stay. However, we are delighted to report that the refinancing of borrowings maturing in the next 12 months is progressing smoothly with favourable indicative pricing, underscoring the financial strength of Sunlight REIT. In sum, while it is envisaged that operational hurdles are bound to persist, the possibility of lower funding costs may help alleviate pressure on distributable income." Remarks: Attached financial highlights of 2025 interim results of Sunlight REIT. Financial Highlights of 2025 Interim Results (in HK$' million, unless otherwise specified) Six months ended 30 June 202 5 Six months ended 30 June 2024 Note Change (%) Revenue 391.2 411.0 (4.8) Net property income 307.4 324.9 (5.4) (Loss) / profit after taxation (172.2) 79.5 N/A Distributable income 168.6 171.6 (1.8) Distribution per unit (HK cents) 9.1 9.1 - Payout ratio (%) 93.8 90.9 N/A At 30 June 20 25 At 31 December 2024 Change (%) Portfolio valuation 17,630.5 17,933.6 (1.7) Net asset value 12,634.1 13,010.1 (2.9) Net asset value per unit (HK$) 7.27 7.53 (3.5) Gearing ratio (%) 27.4 27.0 N/A Note: The comparative figures are derived from the condensed interim financial statements for the 12 months ended 30 June 2024. Disclaimer: The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Sunlight REIT in Hong Kong or any other jurisdiction. Hashtag: #SunlightREIT #REIT The issuer is solely responsible for the content of this announcement. About Sunlight REIT Listed on The Stock Exchange of Hong Kong Limited since 21 December 2006, Sunlight REIT (stock code: 435) is a real estate investment trust authorized by the Securities and Futures Commission, and constituted by the trust deed dated 26 May 2006 (as amended and restated) (the " Trust Deed"). It offers investors the opportunity to invest in a diversified portfolio of 11 office and six retail properties in Hong Kong with a total gross rentable area of approximately 1.3 million sq. ft. The office properties are located in both core and decentralized business areas, while the retail properties are situated in regional transportation hubs, new towns and urban areas with high population density. About the Manager The Manager of Sunlight REIT is an indirect wholly-owned subsidiary of Henderson Land Development Company Limited. Its main responsibility is to manage Sunlight REIT and all of its assets in accordance with the Trust Deed in the sole interest of its unitholders. Sunlight Real Estate Investment Trust
Zawya
8 hours ago
- Zawya
Capella at Galaxy Macau Offers Exclusive Previews to the Luxury Resort's Most Distinguished Clientele
Previewing the Glittering New Landmark, Galaxy Macau celebrates its unwavering commitment to the craft of ultra-luxury hospitality at Asia's Award-Winning Integrated Resort MACAU SAR - Media OutReach Newswire - 11 August 2025 - In a move which promises to redefine the contours of luxury hospitality in Asia, Galaxy Macau announces the soft opening of Capella at Galaxy Macau. This meticulously conceived property brings with it an ethos of crafted luxury, cultural authenticity and highly personalized service. This eagerly anticipated exclusive private preview of Capella at Galaxy Macau for the luxury resort's most distinguished VIPs, is offering stays and previews of its food and beverage concepts by invitation only. As Asia's entertainment capital enhances its contemporary lifestyle offering as a global center of UNESCO World Heritage and sensory fusion, the arrival of Capella at Galaxy Macau marks a bold new chapter in the city's rich history, one that thoughtfully aligns with the evolving needs of the discerning global traveler. Designed by dynamic French interior architects Moinard Bétaille – whose clientele includes the world's leading luxury maisons, palaces, museums and private residences, such as Cartier, Grimaldi Forum, the Monte-Carlo Cigar Club and Opéra Garnier – the 17-storey property has been seamlessly integrated into the Galaxy Macau luxury resort's 'house of brands'; nestled alongside the world's largest collection of luxury hotel brands held under one sphere of influence. Behind the gilded façade lies 95 signature suites and private, infinity-pool Capella Penthouses, which invite guests to unwind within sensory spaces infused with tropical splendor and a tapestry of high art and Michelin ambitions. Together, they catapult Macau's living heritage into a new era of contemporary sophistication. Discerning guests of Capella at Galaxy Macau can expect to encounter the ultimate expression of handcrafted elegance, bespoke luxury and refined hospitality courtesy of Capella Hotels and Resorts, voted the "No.1 Hotel Brand in the World" in Travel + Leisure's World's Best Awards for the third consecutive year. This exclusive glimpse of Capella at Galaxy Macau marks a new era of ultra-luxury hospitality; offering new possibilities for distinguished stays at the luxury resort. Underpinned by Galaxy Macau's signature 'World-Class Asian Heart' service philosophy, Capella at Galaxy Macau reinforces the city's status as a 'World Center of Tourism and Leisure.' Hashtag: #GalaxyMacau The issuer is solely responsible for the content of this announcement. About Galaxy Macau Integrated Resort Galaxy Macau™, The World-class Luxury Integrated Resort delivers the "Most Spectacular Entertainment and Leisure Destination in the World". Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meters of unique entertainment and leisure attractions that are unlike anything else in Macau. Eight award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau and Andaz Macau. Unique to Galaxy Macau, the 75,000-square-meter Grand Resort Deck features the world's longest Skytop Adventure Rapids at 575-meters, the largest Skytop Wave Pool with waves up to 1.5-meters high and 150-meters pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz-Carlton Spa, Macau help guests relax and rejuvenate. As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meter, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theaters are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind deluxe lounge that evokes the glitz and glamor of Shanghai's golden era with entertainment in luxury and style; and Foot Hub presents the traditional art of reflexology to make you feel more relaxed and revitalized. For Authentic Macau Flavours & Vibrant Asian Experiences, Broadway Macau – just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at its Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also well looked after with a portfolio of unique venues in Galaxy Macau and a professional service staff. Galaxy International Convention Center (GICC) is the latest addition to the Group's ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world-class event venue featuring 40,000-square-meter of total flexible MICE, and a 16,000-seat Galaxy Arena – the largest indoor arena in Macau. For more details, please visit About Capella Hotel Group Capella Hotel Group is a leading hospitality management company specializing in luxury hotels, resorts, and serviced residences. Based in Singapore, the rapidly expanding group has two brands under its portfolio and properties across eight destinations. The award-winning Capella Hotels and Resorts is renowned for its service excellence, crafted luxury design and immersive experiences celebrating the locale, while Patina Hotels & Resorts is the group's transformative luxury brand pioneering a fresh perspective in luxury hospitality. For more information visit About Capella Hotels and Resorts The Capella Hotels and Resorts constellation consists of properties located in Singapore, Sydney, Ubud, Bangkok, Hanoi, Shanghai, and Hainan. Future openings include exciting destinations such as Macau, Kyoto, Seoul, Riyadh, Nanjing and Shenzhen. The exceptional hospitality brand, taking its name from the brightest star of the Auriga constellation, shines a spotlight on local heritage, culture and community whilst crafting authentic guest experiences with the highest level of personalised service and combining a legacy of thoughtful design. Capella was named Best Hotel Brand in Travel + Leisure's "World's Best Awards" from 2023 to 2025. Capella Bangkok and Capella Singapore earned the distinction of being included in The World's 50 Best Hotels in 2023 and 2024. Capella Bangkok was named The World's Best Hotel and Asia's Best Hotel in 2024, with Côte by Mauro Colagreco elevated to Two MICHELIN Stars for 2025. Capella Hotels and Resorts is a member of GHA DISCOVERY, a multi-brand loyalty programme representing a collection of 40 independent hotel brands over 100 countries worldwide. For more information, visit Instagram @capellahotels | Linkedin @capellahotels Galaxy Macau
