Latest news with #Petronas'
Daily Express
12 hours ago
- Business
- Daily Express
Emergency gas terminal shutdown leads to power cuts in Sabah
Published on: Friday, July 25, 2025 Published on: Fri, Jul 25, 2025 Text Size: KOTA KINABALU: An emergency shutdown of Petronas' gas terminal on Wednesday disrupted supply to several power stations and led to scheduled electricity rationing across parts of Sabah. Sabah Electricity Sdn Bhd (SESB) Chief Operating Officer Mohd Yusmanizam Mohd Yusof said the shutdown occurred at 2.11pm, affecting gas delivery to power plants in Kota Kinabalu. These plants were forced to switch from gas to diesel, reducing generation capacity on the Sabah and Labuan grid by 60MW. The first round of electricity rationing took place from 2.38pm to 4.53pm, affecting areas including Pitas, Papar, Keningau, Kunak, Balung, and Tawau. A second round began at 6.38pm, impacting Kudat, Kota Marudu, Tuaran, Lok Kawi, Kimanis, Beaufort, Tenom, Nabawan, Beluran, Sandakan, Semporna, Tawau, and Sebatik. Full power supply was restored by 9.36pm the same evening. Sabah Electricity apologised for the inconvenience and delay in notifying users, while urging continued cooperation and understanding as it works to maintain stable service. Users are advised to contact Sabah Electricity via the Careline at 15444, 088-515000, through WhatsApp at 019-852 5427, or by using the Sabah Electricity mobile application. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Business Recorder
2 days ago
- Business
- Business Recorder
Malaysia PM announces new measures to address rising living costs
KUALA LUMPUR: Malaysia's Prime Minister Anwar Ibrahim on Wednesday announced new measures to address growing public disquiet about the rising cost of living, including a cash handout for all adult citizens and a promise to lower fuel prices. The announcement came ahead of a planned protest to be held in Malaysia's capital Kuala Lumpur on Saturday, calling for Anwar to step down over escalating prices and a failure to deliver on promised reforms, among other concerns. Anwar's administration has carried out a number of measures to boost revenue and productivity this year, including a minimum wage hike, increased electricity tariffs on heavy power users, and new sales taxes on some imported fruits and luxury goods. Anwar has said the moves were mainly targeted at large businesses and the wealthy, but critics have voiced fears that higher costs would eventually be passed down to consumers, including lower and middle income earners. On Wednesday, Anwar said all adult Malaysians above 18 years old will receive a 100 ringgit ($23.67) one-off cash aid to be disbursed from August 31. The government will spend a total 15 billion ringgit ($3.55 billion) in cash aid in 2025, up from 13 billion ringgit originally allocated for the year, he said. Police have said they expect between 10,000 and 15,000 people to attend the Saturday protest, which has been organized by opposition parties. 'I acknowledge the complaints and accept that the cost of living remains a challenge that must be addressed, even though we have announced various measures thus far,' Anwar said. Petronas' exploration in South China Sea will continue, Malaysia PM says He added that further initiatives to aid those in poverty will be launched on Thursday. Anwar said the government will also announce details on a long-awaited plan to remove blanket subsidies on the widely used RON95 transport fuel before the end of September. Once the subsidy changes are implemented, Malaysians will see fuel prices at the pump drop to 1.99 ringgit per litre, compared to the current price of 2.05 ringgit, Anwar said. Foreign nationals however will have to pay unsubsidized market prices for the fuel, he added. Anwar also announced additional allocations for a government programme aimed at increasing access to affordable goods and necessities, and vowed to improve other existing aid measures. Malaysia has seen inflation fall this year, but worries persist over increasing prices of basic necessities like food. Data released this week showed consumer prices rising 1.1% from a year earlier last month, but the costs of food and beverages were up at a faster pace of 2.1%.
The Sun
5 days ago
- Business
- The Sun
Malaysia stands firm on national policy amid US tariff talks
PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim has reaffirmed Malaysia's stance against external pressure that could weaken national policies, particularly in ongoing tariff negotiations with the United States. He emphasised that while trade and investment ties with the US remain vital, Malaysia maintains a 'red line' in discussions—specifically the Bumiputera policy—which will not be altered despite external perceptions of it being 'discriminatory.' Anwar, who also serves as finance minister, highlighted the need to protect local companies in procurement and business opportunities during negotiations. He stated that Malaysia's approach is measured yet firm to ensure national interests are safeguarded while expanding trade relations with other nations, including China and ASEAN members. 'That is our red line in negotiations (on tariffs), which is why our approach is more careful and firm. We must continue to trade and engage well with all countries, but no country should be allowed to impose conditions that pressure us,' he said during a monthly meeting with Prime Minister's Department (JPM) staff. The prime minister also pointed to his diplomatic engagements with global leaders as a key factor in strengthening Malaysia's economic resilience. His rapport with Brazilian President Luiz Inácio Lula da Silva has facilitated Petronas' participation in oil exploration and production in Brazil, while Yinson Holdings secured contracts to build oil and gas vessels for Brazilian and Peruvian markets. 'Malaysian companies benefited from these opportunities due to strong diplomatic ties. Expanding trade with BRICS nations (Brazil, Russia, India, China, South Africa) helps Malaysia diversify its economic dependencies,' he added. In Egypt, Anwar's relationship with President Abdel Fattah el-Sisi led to Proton being granted a production hub role for North Africa, boosting bilateral trade by 34 per cent within a year. - Bernama
Daily Express
7 days ago
- Business
- Daily Express
Vulnerable to pollution, industrial waste issues
Published on: Saturday, July 19, 2025 Published on: Sat, Jul 19, 2025 By: Sisca Humphrey Text Size: Clive said liability limits commonly purchased by companies are often insufficient to cover potential environmental claims. Kota Kinabalu: Many Malaysian businesses may lack adequate insurance protection against pollution and industrial waste incidents, according to a briefing by SP&G Gallagher Insurance Brokers Sdn Bhd (SP&G) Environmental Specialist Clive Goddard. Clive said liability limits commonly purchased by companies are often insufficient to cover potential environmental claims. Advertisement 'It is not unusual to see liability cover capped at RM10 million or less. In some cases, this may not reflect the scale of possible losses,' he said at the Marim Conference 2025 in here on Tuesday. He stated the 1982 Bukit Merah rare earth processing case as an example of long-term environmental damage. 'The incident involved radiation exposure in a Perak town, with cleanup efforts still ongoing decades later,' Clive said. Clive also noted that the costs of decontamination have exceeded RM300 million and most of the burden did not fall under insurance coverage. More recently, the Puchong pipeline fire raised concerns about the state of underground infrastructure and the potential consequences of ground subsidence. He cited that similar issues have occurred with a gas pipeline between Sabah and Sarawak, which experienced several structural failures due to shifting soil. 'Some of these cases have not been widely reported, but they are known within the industry,' he added. Another emerging issue mentioned during the session was the presence of PFAS chemicals in consumer and industrial products. Known for their resistance to breakdown, these substances are increasingly found in water sources and human blood samples globally. Clive said they present regulatory and liability challenges that are still being assessed. He also emphasised on carbon capture and storage (CCS), referencing Petronas' Kasawari project in Sarawak, which aims to store carbon dioxide extracted from offshore gas operations. The initiative is one of several being explored to manage emissions from oil and gas production. Despite these developments, he said there is still limited uptake of comprehensive environmental liability insurance among local firms. 'Policy wordings are often narrow. They may exclude gradual pollution, statutory clean-up costs and other exposures that companies assume are covered,' he said. SP&G Gallagher, part of the global Gallagher insurance group, is encouraging businesses to review their coverage in light of current industrial and legislative changes. This includes recent amendments to the Environmental Quality Act and proposals under public consultation that may place more responsibility on site owners. 'Companies need to be clear on what their policies do and do not cover. This is especially relevant as industrial activity increases under national development plans,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
14-07-2025
- Automotive
- The Sun
Blueshark aims to have over 50 battery swapping stations nationwide by mid-2026 in tie-up with Petronas
SHAH ALAM: Blueshark Ecosystem Sdn Bhd, in partnership with Petronas Dagangan Bhd, aims to expand its network of battery swap stations from 20 to more than 50 nationwide by the middle of next year, in a push to accelerate electric vehicle (EV) adoption in Malaysia. Each battery swap station costs about RM50,000, with expenses shared between Blueshark and Petroliam Nasional Bhd (Petronas), Blueshark CEO Jeff Chong told SunBiz in an interview. A joint venture agreement was signed on May 9, aimed at accelerating the adoption of electric two-wheelers in Malaysia. Blueshark holds a 51% stake and Petronas Dagangan the remaining 49% in the joint venture. Chong said the planned expansion is based on the expected uptake of Blueshark's e-bikes. 'We are very confident that this year we will see at least tenfold growth compared to last year,' he said, adding that this growth supports the targeted number of new stations. 'We don't want too many stations that end up underused. We need to ensure a good return on investment (ROI),' he added. The rollout will initially focus on the Klang Valley, Johor and Penang. 'We will prioritise these three areas first because our bike population is concentrated in these cities,' Chong said. He noted that the strategic partnership with Petronas enhances brand trust and broadens market reach. 'Petronas is one of the top five most cash-rich companies in Southeast Asia and a national brand in Malaysia.' Chong said Petronas' network of more than 1,000 stations nationwide offers Blueshark wide coverage. 'Placing our battery swap stations at Petronas stations makes it much easier and more convenient for customers.' Chong highlighted that many Petronas stations are already installing rooftop solar panels, which could eventually power the battery swap infrastructure. 'This would allow us to offer a fully clean energy, net-zero emissions solution.': He pointed out that Petronas' strong business-to-business network would support Blueshark's growth in the commercial segment. 'We are also collaborating with Mesra to create a point system to benefit customers. There's a lot of synergy in working together,' he added. Future plans include opening Blueshark showrooms at Petronas stations and launching joint promotions via Petronas and the Setel app. Chong expressed hope that the upcoming national budget would continue to support two-wheeler EV adoption. 'The carbon emissions from two motorbikes are equivalent to those of one car. So, if the government supports two-wheelers, the ROI is better and emissions can be reduced more effectively,' he said. The current RM2,400 subsidy for electric cars has minimal impact on middle- and high-income groups, he opined. 'For them, the amount is too small to make an impact. But if you apply a RM2,400 subsidy to e-bikes, you can help the B40 group and achieve better environmental outcomes with a relatively small investment.' Chong cited data showing that motorcycles emit about 103 grams of carbon per passenger per kilometre, compared to 192 grams for cars. 'If the government wants to address this issue effectively, it should focus on bikes rather than cars. The ROI will be higher, especially considering Malaysia has almost 15 million bikes on the road,' he said. Chong called for more green funding to support industry growth, noting that Malaysia's adoption of electric two-wheelers remains relatively low compared to countries like Thailand and Vietnam, where supportive policies and stronger demand have driven growth. 'Right now, there isn't much funding or support to grow this sector. The government should consider this,' he said.
