Latest news with #KualaLumpur-based
Mint
6 hours ago
- Business
- Mint
Petronas Is Said to Explore Sale of $7 Billion Canadian Business
(Bloomberg) -- Petroliam Nasional Bhd. is considering options for its Canadian company formerly known as Progress Energy Resources Corp., including a sale, according to people familiar with the matter. Petronas, as the Malaysian state energy firm is known, is working with a financial adviser on a potential disposal, the people said, asking not to be identified because the deliberations are private. A transaction could value the Canadian business at $6 billion to $7 billion, they said. Petronas may also consider selling a minority stake in the business, depending on valuation, the people said. The company has started sounding out preliminary interest from prospective buyers, they said. Considerations are ongoing and no final decisions have been made, they added. A representative for Petronas couldn't immediately respond to a request seeking comment. Petronas bought Progress Energy for about $5.3 billion in 2012, boosting the Kuala Lumpur-based firm's shale-gas assets and gas supplies. Petronas also holds a 25% stake in the LNG Canada project, a joint venture for liquefied natural gas in which Shell Plc, PetroChina Co. Ltd., Mitsubishi Corp. and Korea Gas Corp. also participate. Lower oil prices have hit Petronas, which reported a slide of more than 30% in net income in 2024 and announced job cuts that will start taking place this year. Petronas Canada operates in the North Montney basin in northeast British Columbia and, together with joint venture partners, owns more than 800,000 gross acres of mineral rights with 53 trillion cubic feet of reserves and contingent resources, its website shows. --With assistance from Vinicy Chan and Anisah Shukry. More stories like this are available on
The Sun
4 days ago
- Entertainment
- The Sun
Humiliation release album number 15
WHEN discussing the local death metal scene, one name that keeps cropping up is Humiliation. Though not as long in tooth as veteran scenesters such as Sil Khanaz, this Kuala Lumpur-based outfit has carved a solid reputation as serious player by sheer dint of its output. Not one to rest on its laurels, the quintet has successfully raised its profile the old fashioned way – record, tour and record again. This has led to a formidable output of 15 full-length albums since forming in 2009, which the band promoted with tour treks across Europe, taking in some choice metal festivals. Drummer Mudon (Hishamuddin Khalid) speaks exclusively to theSun on the band's latest continental jaunt and the release of its latest opus. Humiliation is one of the most consistent local bands since formation. Since forming 16 years ago, Humiliation has released 15 full-length studio albums, 12 split EPs with various bands worldwide, one live compilation and two EPs either on CD, vinyl and cassette formats. Talk us through this work ethic that has shaped the band since the debut EP Face the Disaster. Humiliation just wants to be consistent in doing what it is passionate about. Nothing more. The band had an initial target of achieving five albums just as a means to avoid the project dying out halfway. It was also a measure of progress. It is also a result of the band members' discipline and commitment. But the releases grow naturally from one to another, and once you have momentum, productivity will overcome any hurdles. Just keep on doing it and it will become routine. Humiliation is also a heavy touring machine, having played Japan and numerous European festivals. Talk us through your experiences. Our first ever performance outside Malaysia was in Singapore on Jan 16, 2011 as supporting act for Impiety. The response was so overwhelming given Humiliation was an unknown entity then. This experience made the band explore gig opportunities abroad. Later that year, our label (Ultra Hingax Productions) which had close ties with a Japanese label (Bloodbath Records) proposed a four-date tour in Japan. We were extremely nervous seeing how good and professional the supporting Japanese bands were but we did great! We sold out on our merchandise on the third day of the tour and the reception was wild. Imagine, this from crowds that did not understand a word of Malay (Bahasa Melayu)! Since then, we have been privileged to play countless European tours and festivals. Playing abroad is not easy though. It can be as colourful as a beautiful painting and on the other extreme, it can be as dark and gloomy as rough seas. Daily commuting from one location to another, hiccups in the middle of nowhere, nights with insufficient rest, cold freezing weather, unexpected change of plans and plenty more. These is the reality of a touring band abroad. What are your expectations for the September European dates? Our last tour was in 2019, a year before Covid-19 struck us worldwide. This time, we are going to many new places and making new friends, concurrently we will meet our old-time friends. Energy from the crowd is something that we miss a lot. In short, we hope we can regain our momentum as a touring band since we also treat this tour as a restart after being silent on the live circuit for five years. What has been the reception like abroad? In general, the reception is positive. Anyhow, we are not a big band, so we do not put too high hopes. It is hard to anticipate things when you are abroad. For friends-like organisers, they treat you good most of the time. For big event such as an open-air festival, they usually treat you very professionally. Tell us about the recording process of the new album? We wanted to experience a different studio environment with the new record. After evaluating a few studios, we chose Jongro Music Studio in Kuala Lumpur for the drum and vocal tracks, while guitar and bass tracks were done at No Where Studio (also in Kuala Lumpur). Sendart (Khairul Wan) was responsible for the sound engineering, mixing and mastering of Echoes of Annexation. What is different about Echoes of Annexation compared with previous albums? We are hoping recording in a new studio and bringing a new recording engineer will have an influence on the sound. We also collaborated with a new artist on the album art – Kei Vector. What do you hope to achieve with this new album? Let this release bleed your ears and crush you like a tank-rolling when you see us live! Since some of the band members are passing the half-a-century milestone, please join us to spread the noise! Humiliation is greatly influenced by Bolt Thrower in sound as well as lyrical themes. Any other bands that have had a major influence on Humiliation? Some of the bands that have inspired Humiliation include Asphyx, Benediction, Morbid Angel, Gorefest, Sodom, Entombed, Overkill and Motorhead. Humiliation was among the last bands to share a stage with Power Trip. Any anecdotes you want to share about the late Riley Gale? Yeah, that show was on Feb 12, 2020 (just before the pandemic). He was a really nice guy and extremely friendly although it was our first meeting ever. We traded some stuff after our slot on stage. Later after the show, we talked a lot more. His kindness and passion in the extreme music scene was incomparable. Apart from the European tour, what can we expect from Humiliation this year? There are three things that are our focus this year, which are festival shows in July (Netherlands and Germany), Europe Tour in September and recording sessions for the next project. Humiliation will play Pitfest in Holland as well as In Flammen in Germany between July 11 and 13.
The Sun
4 days ago
- Entertainment
- The Sun
Ceaseless passion
WHEN discussing the local death metal scene, one name that keeps cropping up is Humiliation. Though not as long in tooth as veteran scenesters such as Sil Khanaz, this Kuala Lumpur-based outfit has carved a solid reputation as serious player by sheer dint of its output. Not one to rest on its laurels, the quintet has successfully raised its profile the old fashioned way – record, tour and record again. This has led to a formidable output of 15 full-length albums since forming in 2009, which the band promoted with tour treks across Europe, taking in some choice metal festivals. Drummer Mudon (Hishamuddin Khalid) speaks exclusively to theSun on the band's latest continental jaunt and the release of its latest opus. Humiliation is one of the most consistent local bands since formation. Since forming 16 years ago, Humiliation has released 15 full-length studio albums, 12 split EPs with various bands worldwide, one live compilation and two EPs either on CD, vinyl and cassette formats. Talk us through this work ethic that has shaped the band since the debut EP Face the Disaster. Humiliation just wants to be consistent in doing what it is passionate about. Nothing more. The band had an initial target of achieving five albums just as a means to avoid the project dying out halfway. It was also a measure of progress. It is also a result of the band members' discipline and commitment. But the releases grow naturally from one to another, and once you have momentum, productivity will overcome any hurdles. Just keep on doing it and it will become routine. Humiliation is also a heavy touring machine, having played Japan and numerous European festivals. Talk us through your experiences. Our first ever performance outside Malaysia was in Singapore on Jan 16, 2011 as supporting act for Impiety. The response was so overwhelming given Humiliation was an unknown entity then. This experience made the band explore gig opportunities abroad. Later that year, our label (Ultra Hingax Productions) which had close ties with a Japanese label (Bloodbath Records) proposed a four-date tour in Japan. We were extremely nervous seeing how good and professional the supporting Japanese bands were but we did great! We sold out on our merchandise on the third day of the tour and the reception was wild. Imagine, this from crowds that did not understand a word of Malay (Bahasa Melayu)! Since then, we have been privileged to play countless European tours and festivals. Playing abroad is not easy though. It can be as colourful as a beautiful painting and on the other extreme, it can be as dark and gloomy as rough seas. Daily commuting from one location to another, hiccups in the middle of nowhere, nights with insufficient rest, cold freezing weather, unexpected change of plans and plenty more. These is the reality of a touring band abroad. What are your expectations for the September European dates? Our last tour was in 2019, a year before Covid-19 struck us worldwide. This time, we are going to many new places and making new friends, concurrently we will meet our old-time friends. Energy from the crowd is something that we miss a lot. In short, we hope we can regain our momentum as a touring band since we also treat this tour as a restart after being silent on the live circuit for five years. What has been the reception like abroad? In general, the reception is positive. Anyhow, we are not a big band, so we do not put too high hopes. It is hard to anticipate things when you are abroad. For friends-like organisers, they treat you good most of the time. For big event such as an open-air festival, they usually treat you very professionally. Tell us about the recording process of the new album? We wanted to experience a different studio environment with the new record. After evaluating a few studios, we chose Jongro Music Studio in Kuala Lumpur for the drum and vocal tracks, while guitar and bass tracks were done at No Where Studio (also in Kuala Lumpur). Sendart (Khairul Wan) was responsible for the sound engineering, mixing and mastering of Echoes of Annexation. What is different about Echoes of Annexation compared with previous albums? We are hoping recording in a new studio and bringing a new recording engineer will have an influence on the sound. We also collaborated with a new artist on the album art – Kei Vector. What do you hope to achieve with this new album? Let this release bleed your ears and crush you like a tank-rolling when you see us live! Since some of the band members are passing the half-a-century milestone, please join us to spread the noise! Humiliation is greatly influenced by Bolt Thrower in sound as well as lyrical themes. Any other bands that have had a major influence on Humiliation? Some of the bands that have inspired Humiliation include Asphyx, Benediction, Morbid Angel, Gorefest, Sodom, Entombed, Overkill and Motorhead. Humiliation was among the last bands to share a stage with Power Trip. Any anecdotes you want to share about the late Riley Gale? Yeah, that show was on Feb 12, 2020 (just before the pandemic). He was a really nice guy and extremely friendly although it was our first meeting ever. We traded some stuff after our slot on stage. Later after the show, we talked a lot more. His kindness and passion in the extreme music scene was incomparable. Apart from the European tour, what can we expect from Humiliation this year? There are three things that are our focus this year, which are festival shows in July (Netherlands and Germany), Europe Tour in September and recording sessions for the next project. Humiliation will play Pitfest in Holland as well as In Flammen in Germany between July 11 and 13.
Business Recorder
4 days ago
- Business
- Business Recorder
Palm logs third weekly gain despite Chicago soyoil drag
KUALA LUMPUR: Malaysian palm oil futures logged a third straight weekly gain, though the market retreated on Friday as it was weighed down by weaker rival Chicago soyoil. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange slid 54 ringgit, or 1.37%, to 3,878 ringgit ($911.83) a metric ton at the close. The contract gained 1.33% this week. Crude palm oil futures traded lower tracking weakness in the Chicago soybean oil market, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. 'We identify support at 3,800 ringgit and resistance at 3,950 ringgit,' he said. Dalian's most-active soyoil contract fell 0.86%, while its palm oil contract lost 0.89%. Soyoil prices on the Chicago Board of Trade were down 1.74%. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Palm edge higher despite expectations of higher output, stock levels Oil prices were stable on Friday, but on track for a second consecutive weekly decline, pressured by expectations of another OPEC+ output hike and uncertainty about U.S. tariffs after the latest legal twist kept them in place. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, weakened 0.31% against the U.S dollar, making the commodity cheaper for buyers holding foreign currencies.
New Straits Times
4 days ago
- Business
- New Straits Times
Palm slips on weaker Chicago soyoil but still set for weekly gain
KUALA LUMPUR: Malaysian palm oil futures fell on Friday, snapping a five-session rally, pressured by weaker rival Chicago soyoil, although the market remained on track for a weekly gain. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange slid RM72, or 1.83 per cent, to RM3,860 (US$910.38) a metric ton at the midday break. The contract has gained 1.99 per cent so far this week. Crude palm oil futures traded lower tracking weakness in the Chicago soybean oil market, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. "We identify support at RM3,800 and resistance at RM3,950," he said. Dalian's most-active soyoil contract fell 0.93 per cent, while its palm oil contract lost 1.16 per cent. Soyoil prices on the Chicago Board of Trade were down 2.91 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Oil prices were on track for a second consecutive weekly decline, weighed down by expectations of another OPEC+ output hike in July and fresh uncertainty after the latest legal twist kept US President Donald Trump's tariffs in place. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, remained unchanged against the US dollar. Palm oil may retrace to RM3,886 per ton, as it has broken support at RM3,912, Reuters technical analyst Wang Tao said.
