Latest news with #PLB
New Straits Times
02-05-2025
- Business
- New Straits Times
PLB Engineering to dispose of land in Penang for RM48mil
KUALA LUMPUR: PLB Engineering Bhd's wholly owned subsidiary PLB Land Sdn Bhd has entered into a sale and purchase agreement with Telaga Raya Sdn Bhd to dispose of 80.72 hectares of land in Tasik Gelugor, Penang, for RM48 million. In a filing with Bursa Malaysia today, PLB said the disposal forms part of the group's strategy to monetise and crystallise the value of its landbank. The company said the proceeds from the proposed disposal will be used to repay bank borrowings, thereby reducing the group's gearing level, improving its financial position by enhancing the current ratio, and strengthening cash flow through lower interest expenses. "Based on the consideration of RM48 million, the proposed disposal is expected to result in a gain of approximately RM12.88 million," it said. PLB added that the proposed disposal will not have any effect on its issued share capital or substantial shareholders' shareholdings, as it will be fully satisfied in cash without involving the issuance of new ordinary shares. Barring any unforeseen circumstances and subject to all relevant approvals being obtained, the proposed disposal is expected to be completed by 2025.
The Star
02-05-2025
- Business
- The Star
PLB Engineering unit to dispose of Penang land for RM48mil
KUALA LUMPUR: PLB Engineering Bhd 's wholly-owned subsidiary, PLB Land Sdn Bhd, is disposing of five parcels of vacant freehold land at Jarak Atas, Tasik Gelugor, in Penang for RM48mil to repay bank debts and improve its cash flow. The group said it purchased the lands - which have a combined size of 807,157sqm - for RM25.48mil back in June 11, 2013. As at Aug 31, 2024, the lands held a net book value of RM30.38mil. PLB expects to gain about RM12.88mil from the disposal, after deducting the investment cost and land related cost for the six months ended Feb 28, 2025, as well as estimated expenses and taxation. PLB said in its bourse filing it plans to utilise the proceeds of the sale to repay bank borrowings of RM10mil and trade creditors and working capital of RM33.33mil. Of the remaining proceeds, RM606,000 will be used to cover the estimated expenses of the proposed disposal, and RM4.07mil go to taxes. The proposed disposal is expected to be completed in 2025.
Free Malaysia Today
27-04-2025
- Business
- Free Malaysia Today
Proposed landfill reclamation creates perception of ‘selling out' to China, says NGO
ProtectKarpal chairman AD Chandrasekaran said the four-year recycling, reclamation and 20-year development plan would choke local traffic, displace small businesses along Karpal Singh Drive and erode the area's appeal. (File pic) GEORGE TOWN : An NGO has urged Prime Minister Anwar Ibrahim to reject outright the proposed 70-acre reclamation project at the Jelutong landfill, arguing among others that it creates the perception of 'selling out' to China. In a meeting with residents of the Karpal Singh Drive area today, Protect Karpal Singh Drive action committee (ProtectKarpal) chairman AD Chandrasekaran called for the matter to be discussed in the state assembly. 'The DAP-led Penang government and its role in the (ruling) federal coalition risk severe backlash as this arrangement feeds directly into long-standing public concerns about foreign influence. 'If the project is approved, it would confirm critics' accusations against DAP's ethnic Chinese leadership of prioritising China's interests over Malaysian sovereignty, public health and environmental protection. 'Transferring this strategic location to a company directly controlled by the Chinese government raises serious national security implications that cannot be overlooked. 'The state and federal governments must demonstrate their commitment to protecting Malaysian interests,' the NGO also said in a statement. At the centre of the controversy is a land-for-works arrangement involving China Railway Engineering Corporation (M) Sdn Bhd (CRECM), a unit of the China Railway Group. PLB Engineering Bhd's joint development agreement with the Penang government and Penang Development Corporation grants PLB 75% of the 90-acre dumpsite and 70% of any additional reclaimed land in exchange for landfill rehabilitation. A memorandum of understanding between PLB and CRECM also allows the China entity to fund and execute RM1.01 billion of rehabilitation work in return for 90% of PLB's entitled land. Chandrasekaran said under the project, continuous construction and recycling machinery noise is projected to exceed the threshold of 65dB(A) during the day and 60dB(A) at night, thus disrupting sleep, impairing cognition and lowering the quality of life for thousands of residents in the area. He added that the four-year recycling, reclamation and subsequent 20-year development plan would choke local traffic, displace small businesses along Karpal Singh Drive and erode the area's appeal as a recreational and dining precinct. Jelutong MP RSN Rayer, who was present at the meeting, said he would bring the matter up with Penang chief minister Chow Kon Yeow and Sungai Pinang assemblyman Lim Siew Khim.
Reuters
25-02-2025
- Business
- Reuters
Swiss lawmakers want to push back public liquidity backstop
ZURICH, Feb 25 (Reuters) - Swiss lawmakers want to push back the introduction of a permanent public liquidity backstop (PLB) for big banks, linking the safety net to a forthcoming government proposal on capital requirements for lenders like UBS (UBSG.S), opens new tab. The unanimous decision by an upper house committee needs to be confirmed in parliament in its upcoming spring session and potentially delays the introduction of Switzerland's permanent PLB until after 2026. A PLB provides cash to lenders in serious trouble, and in 2023 Credit Suisse accessed one via an emergency law before the bank collapsed and was bought by UBS. The exact design of the permanent PLB can only be defined in the overall context of Switzerland's too-big-to-fail regulations, lawmakers found after consulting with the authors of a recent Bern University study and other academics. While the committee "supports the PLB in principle," substantive discussions should be suspended until the Swiss government has clarified how it wants to regulate systemically important banks, it said in a press release on Tuesday. In December, Swiss lawmakers called for stricter oversight of the financial sector after investigating the collapse of Credit Suisse and directed sweeping recommendations and requests at the government.
Yahoo
22-02-2025
- Yahoo
Aussies urged to bring 'crucial' life-saving device on hikes: 'Peace of mind'
Strapping up your hiking boots and exploring the bush is a great way to disconnect, but authorities are urging Aussies to do a few quick things before they go off-grid to help strengthen their chance of getting help if something goes wrong. This week, the NSW National Parks and Wildlife Service (NPWS) reminded Aussies of the two crucial steps they need to take long before stepping out of their front door for a hike — take a personal locator beam (PLB) and fill out a trip intention form. And, while time in the great outdoors is often sought in a bid to avoid the mundane tasks modern-life throws us, these two steps could be the difference between life and death, according to authorities. "In NSW we are lucky to be surrounded by incredible national parks, but these landscapes can be unforgiving and it's very easy to get lost, whether you are new to hiking or a seasoned veteran," Naomi Stephens, NPWS Acting Deputy Secretary, said. "It is crucial for hikers to inform someone about their plans, carry a personal locator beacon, and ensure they are well-equipped with the necessary supplies." Wildlife photographer Greg Tannos often treks in remote areas of the country in search of native animals and, despite his decades of experience, he always carries a PLB — even when he's with friends. "I always carry safety equipment all the time on my walks. I've got a PLB... it gives me peace of mind," he told Yahoo News. He recalled the moment one of his mates fell down a steep, rocky trail near Mermaid Pool in Pheasants Nest, NSW, late last year — with the man tumbling down the sharp rocks and hitting his head and hip. Greg didn't use the PLB at his friend's request, but admitted he was relieved he had it on him "just in case" the situation escalated. 😒 Camper calls for change to combat 'annoying' trend at national parks 🆘 The device that saved young fishermen drifting off Aussie coast ‼️ Inside missing hiker Hadi Nazari's 13-day survival Michael Atkinson, better known as Outback Mike, also swears by carrying a PLB and told Yahoo News previously that "there's a long list of things you can do to help yourself but just put an PLB in your bag". PLBs can be activated at any time by a hiker and it transmits a distress signal via a satellite, allowing emergency services to identify your location and provide assistance within hours — even where there is no mobile reception. In NSW, hikers can hire the life-saving devices for free from a range of 12 national park visitor centres and they are available for purchase nationwide. Hikers are encouraged to complete trip intention forms and share them with a friend not going on the trip, meaning if the alarm is raised after someone doesn't come back from their hike, rescuers have basic information to help with their search. Detailing where you plan to go and what colour you are wearing can help rescuers decide the best course of action when seeking you out. Dressing in "bright, waterproof, windproof and light weight clothing" could make you easier to spot. Outback Mike echoed this sentiment, saying bright clothing and equipment can have a "dual purpose". Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
