Trading ideas: Bumi Armada, Zetrix, Kelington, Kim Hin, Hibisucs, Johor Plantations, Ajiya, Tex Cycle, Pekat, Kimlun, Jiankun, Rimbunan Sawit, Ramssol
Bumi Armada Bhd and Petronas-linked MISC Bhd have mutually called off their proposed merger, ahead of the lapse of their memorandum of understanding on Aug 14.
Zetrix AI Bhd said it will provide front-end solutions in future IT project collaborations with its 19.2%-owned Heitech Padu Bhd .
Kelington Group Bhd is in talks with an unnamed client for a semiconductor hook-up project at a wafer fabrication plant in Dresden, Germany, potentially worth up to EUR50mn.
The independent adviser for Kim Hin Industry Bhd , New Paradigm Securities Bhd, has advised minority shareholders against accepting the offer from chairman Chua Seng Huat to take the company private for 85 sen a share, calling it not fair and not reasonable.
Hibiscus Petroleum Bhd , under its 2030 Mission strategy, wants to increase its net production rate to 70,000 barrels of oil equivalent per day by 2030 from 27,000 currently and raise its proven and probable reserves to 150mn mmboe from 84.9 mmboe as at end-January 2025.
Johor Plantations Group Bhd has signed an MOU with YPJ Plantations Sdn Bhd and PIJ Holdings Sdn Bhd to improve and modernise the palm oil sector in Johor.
Ajiya Bhd is disposing of two industrial land parcels in Nilai, Negeri Sembilan, for a total of RM51.9mn as part of its strategy to monetise non-core assets and strengthen its financial position.
Tex Cycle Technology (M) Bhd has acquired Meridian World Sdn Bhd for RM42.8mn to the vendors, while an additional RM6.7mn retention sum was also paid to its solicitors.
Pekat Group Bhd 's 60%-owned subsidiary company EPE Switchgear (M) Sdn Bhd has bagged a RM31.3mn contract from Tenaga Nasional Bhd to undertake switchgear equipment maintenance and repair works.
Kimlun Corp Bhd has proposed a private placement to raise up to RM40.6mn to raise funds to meet the company's working capital needs.
Jiankun International Bhd plans to issue shares to settle RM8.2mn in outstanding debt, which will result in subcontractor Crimson Power Sdn Bhd emerging as its new largest shareholder with a 30.1% stake.
Rimbunan Sawit Berhad has announced the appointment of Datuk Tiong Thai King, 80, as its new Non-Executive Chairman.
Ramssol Group Bhd 's 2Q25 net profit surged 42.5% YoY to RM6.2mn with revenue climbing 44% YoY to RM24.9mn, driven by robust demand for its human capital management and artificial intelligence cloud solutions.
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The Star
16 hours ago
- The Star
PETRONAS' PUSH TO CREATE MALAYSIA'S VIBRANT UPSTREAM ECOSYSTEM
PETRONAS MPM aims to unlock five new frontier basins in the country. MALAYSIA'S oil and gas (O&G) sector is asserting enduring significance and robust growth potential driven by the inherent dynamics of resource abundance, technological innovation and persistent global demand. This critical industry, a bedrock of the economy, continues to unlock new opportunities and sustain vital energy supplies. While Malaysia embraces a responsible energy transition, the fundamental value and strategic importance of its hydrocarbon wealth remain undeniable, with the sector's trajectory defined by its foundational role in meeting both national and global energy needs. Malaysian Petroleum Management (MPM) senior vice-president Datuk Bacho Pilong stated that the upcoming decades are set for continued growth, evidenced by the heightened upstream momentum last year, which coincided with Petroliam Nasional Berhad's (PETRONAS) 50-year anniversary. Over the past half-century, Malaysia's oil production has experienced a twenty-fold increase, from over 100,000 barrels per day in the 1970s to over two million barrels per day in 2024. Last year, PETRONAS also secured RM50bil in upstream investments and signed a record 14 product sharing contracts (PSCs) with 12 operators. 'From our humble beginnings in 1974, PETRONAS and MPM have grown leaps and bounds,' said Bacho. 'Last year, we awarded the highest number of blocks (14) the country has ever done. 'Our role is about creating a future for the industry, to ensure its prominence for the decades to come. I believe that PETRONAS' future could be even more exciting than the past fifty years,' said Bacho. — IZZRAFIQ ALIAS/The Star 'This is thanks to the mature infrastructure network, progressive fiscal terms, enhanced transparency and a skilled talent pool, crucial for the industry to flourish. 'This stability provides investors with the certainty to come in and invest in the country.' Bacho added that MPM's role goes beyond being a mere regulatory arm, as the organisation aims to actively shape the future of the industry, accelerating growth and global competitiveness. 'Our role is about creating a future for the industry, to ensure its prominence for the decades to come. I believe that PETRONAS' future could be even more exciting than the past fifty years,' he said. These strategic undertakings represent a pivotal phase in PETRONAS' bold transformation journey as an integrated energy company, one that goes beyond maintaining its traditional upstream excellence by 2035. 'We are reimagining Malaysia's role as a regional energy leader through innovative partnerships, cutting-edge technology and asset excellence,' said Bacho. 'This transformation encompasses our evolution as a progressive energy and solutions partner, where every business decision – from frontier basin exploration to portfolio enhancement – serves the larger vision of delivering sustainable, competitive energy for the next decade and beyond. 'This comprehensive shift is what we call PETRONAS 2.0 – building tomorrow's energy ecosystem today, ensuring Malaysia remains not just relevant but essential in the global energy transition,' he added. Untapped resources Bacho shared that to invigorate the sector, PETRONAS, through MPM, plans to reactivate dormant oil basins in the country via strategic partnerships, untapping unutilised reserves. He explained that, in total, Malaysia is home to eight basins. These comprise the Malay Basin, Penyu Basin, Langkasuka Basin in Peninsular Malaysia, Sarawak Basin, Layang-Layang Basin, Kinabalu Basin, Tawau Basin and Sandakan Basin in East Malaysia. 'Just imagine, all this time, our playing field was limited to three basins. But, in the decades to come, it will be expanded to eight basins. There are five dormant basins just waiting to be activated,' he said. 'So, we must attract more investments to capitalise on these opportunities, to unlock this growth potential.' Each of these basins offers distinct geological potential and commercial advantages, backed by enhanced subsurface data, improved fiscal terms and viable infrastructure networks. This year, the production sharing contracts for the Mutiara cluster in the Sandakan Basin and the Temaris Cluster in the Malay Basin were successfully launched and awarded to Dialog Resources Sdn Bhd and Seascape Energy Asia (One) Sdn Bhd respectively. Additionally, strategic technical evaluation agreements (TEAs) were signed with major industry players such as BP, TotalEnergies (France) and Eni (Italy), for the Langkasuka and Layang-Layang basins. Bacho described Sabah as a potential investment opportunity, as there are many blocks available in the state's untapped basins. Recently, Japanese company Inpex Corporation made a comeback into the country, with plans mooted for the Tawau Basin. In the 1960s, the company began expanding abroad, including exploration in Sabah under Sabah Teiseki Oil Co (a subsidiary of Teikoku Oil), and drilled five oil wells at the southeastern tip of Sebatik Island, off the coast of Tawau. Catalysing investments To activate and streamline the operations of these basins, MPM is forming strategic collaborations and partnerships with potential investors. This is done through Malaysia Bid Round (MBR), an annual exercise to develop upstream initiatives and offer investors different opportunities to grow their energy portfolios. MBR 2025 is offering a balanced portfolio with five exploration blocks and three discovered resource opportunities (DRO) clusters in Malaysia. 'Malaysia remains an attractive and vibrant exploration and production (E&P) investment destination for potential investors,' said Bacho. He added that a game-changer in attracting investment interest has been the PETRONAS myPROdata platform. Bacho said this system provides greater access and transparency to Malaysia's E&P data, encapsulating over 100 petabytes of accumulated seismic, production and field data over the past five decades. Access to these datasets eases the decision-making process for investors, enabling them to make well-informed decisions on their investments. 'This can be a catalyst for the industry. By sharing this data with investors, at a nominal subscription fee, we speed up their decision-making and de-risk exploration for them,' said Bacho. He disclosed that MPM will be spending roughly RM500mil annually for five years to acquire valuable seismic data. This initiative, he says, bolsters investor confidence. Coupled with the re-entry of major players into the country and the continued high demand for O&G from the Global South, it highlights the potential for an upward trajectory in the industry. 'It's about confidence in many aspects: our geology, our regulatory systems, our stable market prices. The moment investors have this confidence, it paves the way for more investments,' Bacho affirmed. MPM also recently introduced Malaysia Bid Round Plus (MBR+), an initiative that allows players to bid on relinquished blocks without waiting for the next annual bid round. This flexibility, exclusively available for PETRONAS myPROdata subscribers, ensures continuous opportunities for new operators and investors. To date, MPM has launched two MBR+ licensing rounds with 100% take-up rates. In addition to the PETRONAS myPROdata platform, MPM employs the Right Asset, Right Player (RARP) strategy. This strategy involves the clustering of assets, classified as late-life assets, small-field assets and so on, depending on their maturity. This effectively matches E&P players with assets that align with their niche capabilities, maximising value creation for all parties. 'Different operators have different focuses, priorities and approaches. With RARP and MBR+, we can utilise the assets to the fullest, and extract more value from them, so it's a win-win for everybody,' Bacho explained. Responsible energy management In line with the National Energy Transition Roadmap (NETR), to achieve net-zero carbon emissions by 2050, Bacho emphasised that while the industry continues to drive economic growth and ensure energy security, embedding emission management from the outset is no longer an option, but a fundamental aspect of operations. A proactive stance is critical, as failure to address emissions could lead to challenges, particularly in securing crucial financing for projects. 'The difference between back then and now is that, in production, emissions are now managed upfront. It is part of the plan as built-in mechanisms and no longer an afterthought,' said Bacho. 'We must ask ourselves, 'Can we manage the emissions?', 'Can we capture the released gas?'. It's about a change in thinking for us all.'
Borneo Post
3 days ago
- Borneo Post
Yap: Don't blame Sarawak's oil demands for federal fiscal woes
Wilfred Yap – Photo by Chimon Upon KUCHING (Aug 7): Kota Sentosa assemblyman Wilfred Yap has rebutted former economy minister Datuk Seri Mohd Rafizi Ramli's recent remarks suggesting that increasing Sarawak's share of oil and gas revenues could impact Malaysia's sovereign credit rating and lead to higher interest on national debt. He said it was 'misleading and unfair' to imply that recognising Sarawak's rightful entitlements could destabilise the country's financial position, warning that such a narrative risks turning the state into a scapegoat for deeper federal inefficiencies. 'Sarawak's demands are not arbitrary. They are grounded in legal and constitutional foundations, including the Malaysia Agreement 1963 (MA63), the Inter-Governmental Committee Report 1962, and the Federal Constitution – all of which recognise Sarawak's autonomy over land and natural resources,' he said in a statement. He pointed out that from 1976 to 2020, Petronas had contributed over RM1.2 trillion to the federal government, while Sarawak – a major oil and gas producer – received only a 5 per cent royalty in return. 'To suggest that correcting this longstanding imbalance could threaten Malaysia's finances is to ignore the deeper issue, namely the federal government's over-reliance on Petronas as a fiscal lifeline in distribution of resources, and a long-term plan for national productivity. 'It should not be propped up by extractive dependence on Sarawak's oil and gas, but by reforms that enhance tax efficiency, reduce leakages, and grow high-value sectors across the country,' he said. Yap said Malaysia must transition away from a centralised model of dependency. He pointed out that a resilient economy is built on diversification and not on the back of one company, one region, or one commodity. 'The future lies in inclusive economic development, sound fiscal management, and transparent governance – not in questioning the constitutional rights of Sarawak.' He also defended Sarawak's legal authority to manage its own resources through legislation such as the Oil Mining Ordinance 1958 and Distribution of Gas Ordinance 2016. 'Petros, our state-owned oil and gas entity, works professionally and transparently in full legal compliance. This is not rebellion; it is responsible governance,' he stressed. He warned that attempting to frame Sarawak's rightful share as a fiscal threat sends the wrong signal not just to Sarawakians, but to the entire nation and the global market. 'Investor confidence, both domestic and foreign, is built on legal certainty, policy clarity, and institutional integrity. 'When Sarawak is given the fiscal space to develop, the entire country benefits. Investments in infrastructure, education, and industry in Sarawak will strengthen Malaysia's internal economy, uplift rural communities, and contribute to national GDP. 'This is the kind of decentralised development that Malaysia urgently needs,' he said. He reiterated that the Gabungan Parti Sarawak-led state government is not seeking confrontation, but justice under the Federal Constitution and the terms of MA63. 'It is unjust for Sarawak to continually be told to accept less in the name of 'national interest' when that 'interest' is skewed by federal inefficiency and poor financial planning. 'Let us move forward with mutual respect, equity, and sound fiscal policy. The time has come for Putrajaya to embrace a new budget philosophy; one that empowers all states, especially resource-contributing ones like Sarawak, and reduces unhealthy dependence on a single revenue source. 'Malaysia must learn to stand on its own two feet – not lean unfairly on Sarawak's oil and gas,' said Yap. oil and gas rafizi ramli Wilfred Yap
Sinar Daily
3 days ago
- Sinar Daily
Airbnb contributes RM9.2 billion to Malaysia's economy in 2024
Travel in Malaysia is expanding beyond major cities, with more than half of Airbnb guests' spending in 2024 occurring outside Kuala Lumpur and Selangor. 07 Aug 2025 08:00pm Travel in Malaysia is expanding beyond major cities, with more than half of Airbnb guests' spending in 2024 occurring outside Kuala Lumpur and Selangor. - 123RF photo for illustration purpose only KUALA LUMPUR - Airbnb activity contributed RM9.2 billion to Malaysia's economy in 2024, accounting for about five per cent of the tourism sector's gross domestic product (GDP), according to a survey by Oxford Economics. In a statement, the American vacation rental company said the online platform also supported four per cent of tourism-related employment, equivalent to one in every 26 jobs in the industry. Overall, it said Airbnb-linked economic activity helped support around 93,600 jobs and contributed RM2.1 billion in wage income. "Beyond front-line tourism sectors, Airbnb-generated activity injected significant value into the wider economy: contributing almost RM1.4 billion in manufacturing, RM1.2 billion in transport and storage, RM1.2 billion in food and beverage services, and over RM1.0 billion in wholesale and retail trade,' Airbnb said. The survey also found that Airbnb guests' spending in Malaysia, which includes accommodation and non-accommodation expenses, reached RM11 billion in 2024. It said host earnings further support local economies through property upkeep, domestic services, and personal consumption. Additionally, it highlighted a strong rebound in domestic travel, with Malaysian travellers making up 67 per cent of Airbnb guests in 2024, surpassing pre-pandemic levels in 2019. International travellers accounted for the remaining 33 per cent, more than double their share from 2022, reflecting Malaysia's rising global appeal, it said. Malaysians are rediscovering the joy of domestic travel Airbnb said that among international guests, over 80 per cent were from the Asia-Pacific (APAC) region, reaffirming the importance of APAC markets as key inbound sources. Travel in Malaysia is also expanding beyond major cities, with more than half of Airbnb guests' spending in 2024 occurring outside Kuala Lumpur and Selangor. The company said these non-urban areas contributed 62 per cent of Airbnb's GDP impact, supported 63,500 jobs, and generated RM1.3 billion in wages. Airbnb's country head for Southeast Asia and India Amanpreet Bajaj said that with more than half of stays happening outside the major areas of Kuala Lumpur and Selangor, Airbnb is helping spread the economic benefits to more communities in Malaysia. "It is incredibly rewarding to know that Airbnb is helping local businesses thrive, creating jobs, and spreading economic benefits across the country,' he said. - BERNAMA More Like This
