Latest news with #JET
The Star
23-05-2025
- Business
- The Star
Malaysia, Thailand collaborate to improve river mouth of Sungai Golok
Illustrative photo of Sungai Golok. BANGKOK: Malaysia has undertaken extensive measures under the Cross-Border Collaboration initiative with Thailand through the Golok River Mouth Improvement Project to mitigate frequent flooding and improve the quality of life for communities along Sungai Golok. Malaysian Deputy Prime Minister Datuk Seri Fadillah Yusof said the river, which forms a natural border between Malaysia and Thailand, has long been prone to flooding, severely affecting local communities. "Mitigating floods at the Sungai Golok estuary necessitates a blend of engineering solutions, environmental management, and policy measures to address sedimentation, regulate water flow, and reduce flood risks,' he said. To tackle these challenges, he said the Malaysian government has implemented comprehensive initiatives as part of the Cross-Border Collaboration between Malaysia and Thailand. Fadillah, who is also the Minister for Energy Transition and Water Transformation, said this during a courtesy call on Thailand's Deputy Prime Minister Prasert Jantararuangtong at the Government House on Friday, held in conjunction with his three-day working visit to Thailand. He said the agreements between the governments of Malaysia and Thailand on the Golok River Mouth Improvement Project have been in place since 1997 through the Joint Evaluation Team (JET), the Joint Technical Working Group (JTWG), and the Joint Steering Committee (JSC). "To mitigate the impact and risks of flooding during the monsoon season, Malaysia plans to conduct dredging at the Sungai Golok estuary and construct a river dyke or groyne by the end of 2025, subject to approval of the JTWG and the Thai government,' he said. He also said both countries agreed during the 40th JTWG meeting to continue discussions in the upcoming JET and JTWG meetings, with updates to be presented at the next JSC meeting later this year. Fadillah said that Malaysia is set to complete a post-monsoon sedimentation survey by April 2025 and highlighted that the sediment levels have exceeded the Tidal Mean Sea Level (TMSL) threshold, necessitating dredging activities. He also said that Malaysia has secured funding for the additional scope of work planned. Meanwhile, Prasert, who is also the Minister of Digital Economy and Society, welcomed Malaysia's initiative and confirmed that his ministry has coordinated with Thailand's Ministry of Agriculture and Cooperatives to support project implementation. During his official visit to Thailand in April, Malaysian Prime Minister Datuk Seri Anwar Ibrahim witnessed the signing of a Memorandum of Understanding (MoU) on the Construction Agreement (CA) for the Rantau Panjang-Sungai Golok Bridge Project. The project is expected to significantly enhance connectivity, trade, and relations between the two nations. In 2024, Thailand ranked as Malaysia's seventh-largest trading partner globally and third-largest within Asean, with total trade amounting to US$25.03 billion (RM114.56 billion). - Bernama
New Straits Times
23-05-2025
- Business
- New Straits Times
Malaysia, Thailand strengthen flood mitigation, connectivity via Golok River project
BANGKOK: Malaysia has undertaken extensive measures under the Cross-Border Collaboration initiative with Thailand through the Golok River Mouth Improvement Project to mitigate frequent flooding and improve the quality of life for communities along Sungai Golok. Deputy Prime Minister Datuk Seri Fadillah Yusof said the river, which forms a natural border between Malaysia and Thailand, has long been prone to flooding, severely affecting local communities. "Mitigating floods at the Sungai Golok estuary necessitates a blend of engineering solutions, environmental management, and policy measures to address sedimentation, regulate water flow, and reduce flood risks," he said. To tackle these challenges, he said the Malaysian government has implemented comprehensive initiatives as part of the Cross-Border Collaboration between Malaysia and Thailand. Fadillah, who is also the Energy Transition and Water Transformation Minister, said this during a courtesy call on Thailand's Deputy Prime Minister Prasert Jantararuangtong at the Government House on Friday, held in conjunction with his three-day working visit to Thailand. He said the agreements between the governments of Malaysia and Thailand on the Golok River Mouth Improvement Project have been in place since 1997 through the Joint Evaluation Team (JET), the Joint Technical Working Group (JTWG), and the Joint Steering Committee (JSC). "To mitigate the impact and risks of flooding during the monsoon season, Malaysia plans to conduct dredging at the Sungai Golok estuary and construct a river dyke or groyne by the end of 2025, subject to approval of the JTWG and the Thai government," he said. He also said both countries agreed during the 40th JTWG meeting to continue discussions in the upcoming JET and JTWG meetings, with updates to be presented at the next JSC meeting later this year. Fadillah said that Malaysia is set to complete a post-monsoon sedimentation survey and highlighted that the sediment levels have exceeded the Tidal Mean Sea Level (TMSL) threshold, necessitating dredging activities. He also said that Malaysia has secured funding for the additional scope of work planned. Meanwhile, Prasert, who is also the Minister of Digital Economy and Society, welcomed Malaysia's initiative and confirmed that his ministry has coordinated with Thailand's Ministry of Agriculture and Cooperatives to support project implementation. During his official visit to Thailand last month, Prime Minister Datuk Seri Anwar Ibrahim witnessed the signing of a Memorandum of Understanding (MoU) on the Construction Agreement (CA) for the Rantau Panjang–Sungai Golok Bridge Project. The project is expected to significantly enhance connectivity, trade, and relations between the two nations. In 2024, Thailand ranked as Malaysia's seventh-largest trading partner globally and third-largest within Asean, with total trade amounting to US$25.03 billion (RM114.56 billion). — BERNAMA
Barnama
23-05-2025
- Politics
- Barnama
Malaysia, Thailand Collaborate To Improve Golok River Mouth
By Kenny Teng Khoon Hock BANGKOK, May 23 (Bernama) -- Malaysia has undertaken extensive measures under the Cross-Border Collaboration initiative with Thailand through the Golok River Mouth Improvement Project to mitigate frequent flooding and improve the quality of life for communities along Sungai Golok. Malaysian Deputy Prime Minister Datuk Seri Fadillah Yusof said the river, which forms a natural border between Malaysia and Thailand, has long been prone to flooding, severely affecting local communities. bootstrap slideshow 'Mitigating floods at the Sungai Golok estuary necessitates a blend of engineering solutions, environmental management, and policy measures to address sedimentation, regulate water flow, and reduce flood risks,' he said. To tackle these challenges, he said the Malaysian government has implemented comprehensive initiatives as part of the Cross-Border Collaboration between Malaysia and Thailand. Fadillah, who is also the Minister for Energy Transition and Water Transformation, said this during a courtesy call on Thailand's Deputy Prime Minister Prasert Jantararuangtong at the Government House on Friday, held in conjunction with his three-day working visit to Thailand. He said the agreements between the governments of Malaysia and Thailand on the Golok River Mouth Improvement Project have been in place since 1997 through the Joint Evaluation Team (JET), the Joint Technical Working Group (JTWG), and the Joint Steering Committee (JSC). 'To mitigate the impact and risks of flooding during the monsoon season, Malaysia plans to conduct dredging at the Sungai Golok estuary and construct a river dyke or groyne by the end of 2025, subject to approval of the JTWG and the Thai government,' he said. He also said both countries agreed during the 40th JTWG meeting to continue discussions in the upcoming JET and JTWG meetings, with updates to be presented at the next JSC meeting later this year.
Yahoo
16-05-2025
- Business
- Yahoo
Phillips 66 Sells Majority Interest in European Fuel Retailer
Investment firms Stonepeak and Energy Equation Partners (EEP) agreed to acquire a 65% interest in a European fuel retailer from Phillips 66 in a transaction valuing the business at 2.5 billion euros (US$2.8 billion), the companies said in a May 15 press release. Phillips 66 Continental Holding will retain a 35% majority interest in JET Tankstellen Deutschland as part of the deal through a newly formed joint venture. Stonepeak declined Hart Energy's request for comments on the value of its stake in JET. 'This transaction advances our strategy to optimize our portfolio and enhances long-term shareholder value,' said Mark Lashier, chairman and CEO of Phillips 66. 'The newly formed joint venture allows us to monetize this non-core asset while retaining the ability to benefit from its future growth.' JET distributes fuel to more than 700,000 customers in Germany and Austria through a network of 970 service stations, the release said. The company also operates convenience stores, car washes and an electric vehicle charging network. In connection with the transaction, Phillips 66 will enter into a multi-year agreement to continue to supply the business with products from the Mineraloelraffinerie Oberrhein GmbH & Co. refinery. The deal represents an enterprise value multiple of 9.1x for JET based on expected 2025 EBITDA, Phillips 66 said. 'Under Phillips 66's ownership, JET has grown into one of the largest fuel retailers in Germany and Austria,' said Anthony Borreca, senior managing director and co-head of energy at Stonepeak. The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals. Akin Gump Strauss Hauer & Feld LLP and Hengeler Mueller served as legal counsel to Stonepeak and EEP. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as financing counsel to Stonepeak and EEP.
CTV News
15-05-2025
- CTV News
RCMP in P.E.I. arrest man wanted for firearm threats in Halifax
RCMP in Prince Edward Island arrested a man for firearm offences Wednesday. The RCMP and Halifax Regional Police Integrated Criminal Investigation Division requested assistance from the PEI Provincial Joint Enforcement Team (JET) in locating a 22-year-old man from Halifax who was allegedly involved in a series of firearm threats in Halifax. Police located the man at a motel in Brackley, P.E.I. at 2:30 p.m. The RCMP Emergency Response Team was deployed and arrested the man, Dreonne Colley-Williams, without incident and transported him to back to Dartmouth, said an RCMP news release. Willams will appear in court Thursday. He has been charged with: uttering threats using an imitation firearm while committing an offence possession of a weapon for a dangerous purpose carrying a concealed weapon JET was assisted by the RCMP General Investigation Section in its search. For more P.E.I. news, visit our dedicated provincial page.
