Latest news with #BokorPhase3
The Star
22-05-2025
- Business
- The Star
Trading ideas: YTL Power, BHIC, MMHE, DC, Bumi Armada, Meta Bright, Inari, Public Bank, Supermax, SP Setia, Perdana, Apex, Solarvest, Sarawak Plantation
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. YTL Power International Bhd 's first supercomputer in Malaysia, deploying the Nvidia GB200 Grace Blackwell Superchip on Nvidia DGX Cloud, is on track to go live by the third quarter of this year. Boustead Heavy Industries Corporation Bhd has entered into a memorandum of understanding with Airbus Helicopters for potential collaboration as an industrial partnership in Malaysia. Malaysia Marine and Heavy Engineering Holdings Bhd has secured an injunction against a notice of arbitration issued by its subcontractor in relation to a dispute under a subcontract for the Bokor Phase 3 redevelopment project in Sarawak. DC Healthcare Holdings Bhd is strengthening its brand ecosystem by integrating Dr. Chong Clinic, Dr. Chong Slimming, and NewB Premium Skincare, while broadening its skincare product portfolio. Bumi Armada Bhd 's wholly-owned subsidiary, Armada Kojo BV, has inked a production sharing contract with Indonesia's Energy and Mineral Resources Ministry for the exploration block in Makassar Strait, Indonesia. Meta Bright Group Bhd and ChargeHere EV Solution Sdn Bhd are exploring collaboration opportunities within the rapidly growing electric vehicle ecosystem. In the 3QFY25, Inari Amertron Bhd 's net profit fell 24.7% to RM55.5mn compared with RM73.7mn last year. Public Bank Bhd announced a quarterly net profit of RM1.75bn, up from RM1.65bn in the year-ago quarter, as revenue rose to RM7.31bn, an increase from RM6.65bn in the previous comparative quarter. Supermax Corp Bhd reported a wider net loss of RM23.8mn in the 3QFY25, dragged by higher operating expenses and a RM12.7mn unrealised foreign exchange loss following the depreciation of the US dollar against the ringgit. S P Setia Bhd recorded a net profit after tax of RM89mn for 1QFY25, mainly attributable to operational efficiency and effective cost management. Perdana Petroleum Bhd slipped into the red with a net loss of RM18mn in 1QFY25 from a net profit of RM6mn a year earlier due to lower revenue and lower contribution from third-party vessel chartering and a marginal increase in vessels direct costs. Apex Healthcare Bhd net profit for 1QFY25 dropped 7.1% to RM17.6mn from RM21.2mn in the same quarter last year on lower public sector sales. Solarvest Holdings Bhd reported a net profit of RM20.5mn for 4QFY25, nearly tripling from RM7.7mn a year earlier, driven by increased roll-outs of utility-scale solar projects under the Corporate Green Power Programme. For 1QFY25, Sarawak Plantation Bhd 's net profit rose to RM22.6mn from RM19.1mn in the previous corresponding quarter, mainly because of higher realised average selling price of crude palm oil and palm kernel.
Malaysian Reserve
21-04-2025
- Business
- Malaysian Reserve
MHB's served with notice of arbitration over Bokor Phase 3 subcontract, potential claim of RM57.3m
MALAYSIA Marine and Heavy Engineering Holdings Bhd (MHB) said that its wholly-owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), has been served with a notice of arbitration by Haumea Offshore Sdn Bhd (formerly Trans Fame Offshore). The dispute relates to the subcontract for hook-up and commissioning works and marine vessels for the Bokor Phase 3 redevelopment project. Haumea Offshore is claiming approximately RM57.3 million, including interest and costs. MHB stated the arbitration poses no operational impact and MMHE will vigorously defend the claim while also considering a counterclaim. — TMR
New Straits Times
21-04-2025
- Business
- New Straits Times
MHB's unit faces RM57mil arbitration claim from subcontractor
KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MHB)'s unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), has been served with a notice of arbitration involving a claim of RM57.3 million. The notice, dated April 11, stems from a dispute over a subcontract for the Bokor Phase 3 redevelopment project labeled as Package A, the group said in a filing with Bursa Malaysia today. Under the subcontract, Haumea Offshore, formerly known as Trans Fame Offshore Sdn Bhd, was appointed to carry out hook-up and commissioning works, including providing marine vessels for the project. The arbitration, filed under the Asian International Arbitration Centre rules, concerns disagreements over the performance of the works. The claim includes alleged losses, interest, costs and any other relief deemed appropriate by the arbitral tribunal. MHB said the financial impact on the group will depend on the outcome of the proceedings, but no operational disruptions are expected. It added MMHE intends to vigorously contest the claim and is considering a counterclaim, along with any additional legal remedies available under Malaysian law.
