Latest news with #MODEC
New Straits Times
29-05-2025
- Business
- New Straits Times
Fuelling global ambitions through high impact investments
DESPITE global uncertainties, Malaysia remains a resilient and competitive investment destination. As it advances towards becoming a high-income economy, global business hubs are central to this goal. At the forefront is InvestKL, which is leading strategic initiatives to elevate Greater Kuala Lumpur (Greater KL) as a top destination for global businesses. InvestKL chief executive officer Datuk Muhammad Azmi Zulkifli said multinational corporations' (MNCs) confidence in Greater KL reaffirms its position as a hub for modern services and cutting-edge activities. He said these investments go beyond capital. They drive knowledge transfer, strengthen local capabilities, create job opportunities and spark innovation. "Notably, InvestKL has successfully achieved its key performance indicator of securing RM35 billion in committed investments ahead of its initial target. "We are now entrusted with a new target of RM50 billion in committed investments by 2030, reinforcing our role in advancing Malaysia's economic ambitions. "With a clear strategy and a strong investor pipeline, we are confident of meeting this goal and creating wider economic spillovers that benefit Malaysia as a whole," said Azmi. INVESTMENT PERFORMANCE In 2024, InvestKL secured RM4.08 billion in foreign direct investments from 12 leading global companies, further strengthening Greater KL's position as a strategic gateway to the region. To date, InvestKL has attracted over 150 global companies, contributing a cumulative RM33.8 billion in investments and generating 31,849 executive jobs. "With 80 per cent of hires being Malaysians, InvestKL is committed to connecting MNCs with the country's talent pool. "Through partnerships with universities and upskilling initiatives, we are ensuring professionals are equipped to thrive in high-demand industries, strengthening Malaysia's position as a hub for skilled talent in the region. "Our role goes beyond investment attraction. We support MNCs in regulatory compliance, talent acquisition, business expansion and connections to key stakeholders across the ecosystem," said Azmi. A MAGNET FOR GLOBAL INVESTORS At InvestKL's 2024 Performance Highlights event, investors cited Greater KL's rich business ecosystem, access to skilled talent and supportive regulatory frameworks as key drivers in their decision to establish regional hubs there. Malaysia's pro-investment and pro-trade stance further reinforces Greater KL's position as a gateway to Asean and beyond. One of the investors is MODEC, a global provider of floating production solutions. Its vice-president, project execution and Malaysia country manager, Masataka Utsumi, said: "Greater KL stood out due to its strong pool of industry-ready talent, robust business environment, and well-established oil and gas ecosystem. Driven by a mature and integrated energy industry and a steady pipeline of graduates, Malaysia provides a natural fit for our operations." He highlighted InvestKL as a vital partner throughout MODEC's investment journey. The agency provided end-to-end support in navigating Malaysia's regulatory landscape, enabling a smoother and more efficient setup process. Leading software provider Access Group Malaysia managing director Lim Chee Gay said InvestKL was instrumental in its office launch. "They helped us connect with key agencies and supported us in accessing tax incentives and grants. Greater KL's talent pool and innovative ecosystem impressed our leadership and will support the Access Group's expansion." Meanwhile, Vale in Malaysia chief administrative officer Afzal Mohsin said Malaysia offers strategic connectivity in the Asia-Pacific region. "In 2023, we realigned our corporate presence by moving key functions to Malaysia, bringing our operations and corporate leadership closer together. Asia-Pacific is critical for us—it's the region that consumes the most iron ore globally." "Greater KL's strategic location within the region made it the ideal choice," Afzal said. He said InvestKL played a key role in supporting Vale's transition and has facilitated Vale's connections with institutional and regulatory bodies, making it easier for the company to navigate the setup process. "They also helped us address niche talent needs through mobility support and local upskilling efforts. For a company like ours, with very specific technical requirements, this partnership has been essential," he said. Global customer experience leader Foundever chose Greater KL as its first multilingual hub in Southeast Asia, citing the area's diverse and multilingual talent pool as a key factor. "The average Malaysian speaks multiple languages, and that makes Greater KL an ideal location for us to serve our global clients," said Foundever Malaysia finance director Ronald Portula. Portula said InvestKL was key to Foundever's expansion, offering early advisory, valuable market insights, and connections to local partners and ecosystem players, ensuring a seamless setup and effective talent acquisition process. PageGroup shared service centre director Azlinda Ab Kassim highlighted Greater KL's multicultural environment and strong government support as key factors in its market decision. "Greater KL has a robust ability to nurture talent, enabling the development of a skilled workforce that can support both local and international markets," she said. Azlinda commended InvestKL for enabling the group's smooth and efficient market entry into the region. CATALYSING ECONOMIC GROWTH THROUGH TALENT AND INNOVATION Foreign investments are no longer just about capital inflows. They enable national ambitions such as job creation, talent development and innovation-led growth. This emphasis on nurturing local talent is reinforced through strong public-private collaborations, which Azmi describes as a cornerstone of InvestKL's growth. By working closely with ecosystem partners, InvestKL drives knowledge transfer and capability building. A key initiative is the Greater KL Live Lab (GKL Live Lab), now in its fifth year, that brings together MNCs, startups, small and medium enterprises (SMEs) and academia to pilot innovation and commercialised solutions. "Thirteen companies have come onboard, strengthening Greater KL's position as a regional innovation hub," Azmi said. COMMITMENT TO FUTURE GROWTH Guided by the goals of the Madani Economy framework, the New Industrial Master Plan 2030 and the New Investment Incentive Framework, InvestKL continues to play a pivotal role in shaping Greater KL into a thriving hub for global businesses, contributing to Malaysia's progress and transformation.
Al Bawaba
24-03-2025
- Business
- Al Bawaba
Drydocks World Secures FPSO Baobab Ivoirien Refurbishment And Life Extension Project
Drydocks World has been awarded the contract for the refurbishment and life extension of the FPSO BAOBAB IVOIRIEN, by MODEC Management Services Pte. Ltd., further strengthening its position as a global leader in complex offshore asset upgrades. Set to commence in May 2025, the eight-month expedited project on the Floating Production Storage and Offloading (FPSO) vessel will involve extensive structural enhancements, including 1,000 tonnes of steel renewal, 250,000 square meters of tank coating, and 11,500 meters of new piping. The scope also covers enhancements to crew living quarters and integration of advanced technologies to boost its efficiency and reliability. Upon completion, the vessel's lifespan will be extended by 15 years, ensuring sustained energy production for West Africa. Drydocks World, a DP World company, has a proven track record in vessel refurbishments, life extensions and conversions, having successfully completed over 50 similar projects, including more than 30 FPSO upgrades. This latest contract underscores its unmatched expertise in offshore engineering and life extension solutions while reaffirming its commitment to delivering tailored solutions that meet the unique operational needs of its clients. The FPSO BAOBAB IVOIRIEN plays a crucial role in West Africa's offshore production, with a processing capacity of 70,000 barrels of oil per day (bpd) and 75 million cubic feet of natural gas. It can also inject 100,000 bpd of water and store up to two million barrels of crude oil. The vessel, currently operating at the Baobab oil field, 25 km off the coast of Côte d'Ivoire, will relocate to Drydocks World's Dubai facility for its eight-month refurbishment. The contract signing ceremony, held at Drydocks World, was attended by Rado Antolovic, CEO of Drydocks World, and Gary Kennedy, President of MODEC Management Services Pte. Ltd. Capt. Rado Antolovic PhD, CEO of Drydocks World, said: 'Signing this agreement with MODEC highlights our expertise in complex FPSO refurbishment and life extension projects. Our proven track record in executing large-scale offshore engineering works positions us as the ideal partner to enhance the vessel's longevity, efficiency, and operational safety. We are proud to support MODEC in ensuring the long-term efficiency and reliability of its FPSO.' Gary Kennedy, President, MODEC Management Services Pte. Ltd., said: "This contract award is the result of a rigorous selection process to find the best partner for this critical project. Drydocks World's extensive experience in FPSO upgrades and their commitment to quality and safety made them the ideal choice. The vessel's deepwater operations demand precise refurbishment and life-extension measures to overcome complex engineering and operational challenges, while ensuring efficiency and long-term safety. 'We look forward to working closely with Drydocks World to deliver a revitalised vessel that will continue to play a key role in Côte d'Ivoire's offshore production."Originally converted in 2003 from an Ultra Large Crude Carrier (ULCC), FPSO BAOBAB IVOIRIEN was designed with expandable topsides to maximize offshore production capacity. FPSOs like this are essential in deepwater operations, enabling crude oil and gas processing at sea before transferring resources to tankers or World remains at the forefront of offshore innovation, delivering world-class engineering solutions that enhance asset performance, longevity, and sustainability in the global energy sector.
Zawya
24-03-2025
- Business
- Zawya
Drydocks World secures FPSO Baobab Ivoirien refurbishment and life extension project
Dubai, UAE: Drydocks World has been awarded the contract for the refurbishment and life extension of the FPSO BAOBAB IVOIRIEN, by MODEC Management Services Pte. Ltd., further strengthening its position as a global leader in complex offshore asset upgrades. Set to commence in May 2025, the eight-month expedited project on the Floating Production Storage and Offloading (FPSO) vessel will involve extensive structural enhancements, including 1,000 tonnes of steel renewal, 250,000 square meters of tank coating, and 11,500 meters of new piping. The scope also covers enhancements to crew living quarters and integration of advanced technologies to boost its efficiency and reliability. Upon completion, the vessel's lifespan will be extended by 15 years, ensuring sustained energy production for West Africa. Drydocks World, a DP World company, has a proven track record in vessel refurbishments, life extensions and conversions, having successfully completed over 50 similar projects, including more than 30 FPSO upgrades. This latest contract underscores its unmatched expertise in offshore engineering and life extension solutions while reaffirming its commitment to delivering tailored solutions that meet the unique operational needs of its clients. The FPSO BAOBAB IVOIRIEN plays a crucial role in West Africa's offshore production, with a processing capacity of 70,000 barrels of oil per day (bpd) and 75 million cubic feet of natural gas. It can also inject 100,000 bpd of water and store up to two million barrels of crude oil. The vessel, currently operating at the Baobab oil field, 25 km off the coast of Côte d'Ivoire, will relocate to Drydocks World's Dubai facility for its eight-month refurbishment. The contract signing ceremony, held at Drydocks World, was attended by Rado Antolovic, CEO of Drydocks World, and Gary Kennedy, President of MODEC Management Services Pte. Ltd. Capt. Rado Antolovic PhD, CEO of Drydocks World, said: 'Signing this agreement with MODEC highlights our expertise in complex FPSO refurbishment and life extension projects. Our proven track record in executing large-scale offshore engineering works positions us as the ideal partner to enhance the vessel's longevity, efficiency, and operational safety. We are proud to support MODEC in ensuring the long-term efficiency and reliability of its FPSO.' Gary Kennedy, President, MODEC Management Services Pte. Ltd., said: "This contract award is the result of a rigorous selection process to find the best partner for this critical project. Drydocks World's extensive experience in FPSO upgrades and their commitment to quality and safety made them the ideal choice. The vessel's deepwater operations demand precise refurbishment and life-extension measures to overcome complex engineering and operational challenges, while ensuring efficiency and long-term safety. 'We look forward to working closely with Drydocks World to deliver a revitalised vessel that will continue to play a key role in Côte d'Ivoire's offshore production." Originally converted in 2003 from an Ultra Large Crude Carrier (ULCC), FPSO BAOBAB IVOIRIEN was designed with expandable topsides to maximize offshore production capacity. FPSOs like this are essential in deepwater operations, enabling crude oil and gas processing at sea before transferring resources to tankers or pipelines. Drydocks World remains at the forefront of offshore innovation, delivering world-class engineering solutions that enhance asset performance, longevity, and sustainability in the global energy sector. For more information, please contact: Drydocks World Marija Boskovic / Shamsa AlMehairi / About Drydocks World Over the past 40 years, Drydocks World, a DP World Company, has become a leading provider of marine and offshore services to the shipping, oil, gas, and renewable energy sectors. Conceived as an ambitious project under the guidance of H.H. Sheikh Rashid Bin Saeed Al Maktoum the late Ruler of Dubai, the yard is strategically located in a rapidly developing region of the world. Drydocks World completes over 300 projects a year on average, with a record of handling 42 refurbishment projects simultaneously. Located next to Dubai's Port Rashed, the yard is spread over 200 hectares and includes three graving docks and a floating dock, as well as more than 3,700m of berth space. It also boasts an in-house-built floating crane, which can lift 2,000 metric tonnes, including the weight of lifting gear for all types of heavy lift operations. The facilities have allowed Drydocks World to break records in constructing some of the largest new build offshore fabrications in the world. Drydocks World aims to consistently deliver excellence and achieve further success for the UAE's maritime industry, positioning Drydocks World as an international yard of choice. About DP World DP World is reshaping the future of global trade to improve lives everywhere. Operating across six continents with a team of over 100,000 employees, we combine global infrastructure and local expertise to deliver seamless supply chain solutions. From Ports and Terminals to Marine Services, Logistics and Technology, we leverage innovation to create better ways to trade, minimising disruptions from the factory floor to the customer's door. WE MAKE TRADE FLOW
Yahoo
12-02-2025
- Business
- Yahoo
Discovering February 2025's Undiscovered Gems with Strong Potential
As global markets navigate a landscape marked by tariff uncertainties and mixed economic indicators, small-cap stocks have shown resilience despite broader index declines. With U.S. job growth cooling and manufacturing activity expanding for the first time in over two years, investors are increasingly attentive to undiscovered gems that demonstrate robust fundamentals and adaptability in this dynamic environment. Name Debt To Equity Revenue Growth Earnings Growth Health Rating Darya-Varia Laboratoria NA 1.44% -11.65% ★★★★★★ Anpec Electronics 3.15% 3.67% 9.94% ★★★★★★ Wilson Bank Holding NA 7.87% 8.22% ★★★★★★ Ovostar Union 0.01% 10.19% 49.85% ★★★★★★ Prima Andalan Mandiri 0.94% 20.24% 15.28% ★★★★★★ Yulie Sekuritas Indonesia NA 18.62% 9.58% ★★★★★★ Central Finance 1.16% 10.03% 16.10% ★★★★★☆ Vinacomin - Power Holding 42.01% -0.84% 34.75% ★★★★★☆ Li Ming Development Construction 236.64% 31.54% 34.00% ★★★★☆☆ Bhakti Multi Artha 45.21% 32.37% -16.43% ★★★★☆☆ Click here to see the full list of 4692 stocks from our Undiscovered Gems With Strong Fundamentals screener. Let's uncover some gems from our specialized screener. Simply Wall St Value Rating: ★★★★★☆ Overview: Shanghai Zhongchen Electronic Technology Co., Ltd. operates in the electronic technology sector, focusing on the development and production of electronic components, with a market capitalization of CN¥5.26 billion. Operations: Shanghai Zhongchen Electronic Technology Ltd generates revenue primarily from the sale of electronic components. The company has a market capitalization of CN¥5.26 billion, reflecting its position in the electronic technology sector. Shanghai Zhongchen Electronic Technology Ltd. has shown promising growth, with earnings rising by 10% over the past year, surpassing the Electrical industry average of 1%. The company enjoys a comfortable financial position, having more cash than its total debt and covering interest payments effectively. Its price-to-earnings ratio stands at 27x, which is attractive compared to the broader CN market's 37x. Recent activities include repurchasing 22,000 shares for CNY 0.64 million as part of a larger buyback initiative totaling CNY 24.23 million for nearly 897,230 shares since February last year. Delve into the full analysis health report here for a deeper understanding of Shanghai Zhongchen Electronic TechnologyLtd. Review our historical performance report to gain insights into Shanghai Zhongchen Electronic TechnologyLtd's's past performance. Simply Wall St Value Rating: ★★★★☆☆ Overview: MODEC, Inc. is a general contractor that specializes in the engineering, procurement, construction, and installation of floating production systems for the offshore oil and gas industries globally, with a market cap of ¥214.14 billion. Operations: The primary revenue stream for MODEC, Inc. is derived from the construction of floating oil production facilities and related services, generating $4.08 billion. MODEC stands out in the energy services sector with a remarkable earnings growth of 309.8% over the past year, significantly outpacing the industry's 23.3%. This performance is bolstered by high-quality earnings and a debt-to-equity ratio that has risen from 18.8% to 46.8% over five years, suggesting increased leverage but manageable risk given its cash holdings exceed total debt. Trading at approximately 64% below estimated fair value, MODEC presents an attractive valuation compared to peers, though future prospects may be tempered by forecasted declines in earnings averaging 3.8% annually for the next three years. Take a closer look at MODEC's potential here in our health report. Gain insights into MODEC's historical performance by reviewing our past performance report. Simply Wall St Value Rating: ★★★★★☆ Overview: Nitto Kogyo Corporation manufactures and sells electric and mechanical equipment worldwide, with a market cap of ¥109.98 billion. Operations: Nitto Kogyo's revenue streams are primarily derived from the sale of electric and mechanical equipment. The company focuses on optimizing its cost structure to enhance profitability. Nitto Kogyo, a player in the electrical industry, has shown impressive earnings growth of 33.6% over the past year, outpacing the industry's 15.5%. Despite this strong performance, its debt to equity ratio has increased from 5% to 28.5% over five years, which may raise some eyebrows. The company trades at a value that is currently 6.4% below its estimated fair value, suggesting potential for investors seeking undervalued opportunities. While earnings are expected to decline by an average of 1.9% annually over the next three years, revenue is forecasted to grow at a steady pace of 4.33%. Click here to discover the nuances of Nitto Kogyo with our detailed analytical health report. Examine Nitto Kogyo's past performance report to understand how it has performed in the past. Investigate our full lineup of 4692 Undiscovered Gems With Strong Fundamentals right here. Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments. Maximize your investment potential with Simply Wall St, the comprehensive app that offers global market insights for free. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SHSE:603275 TSE:6269 and TSE:6651. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
