Latest news with #PetronasCarigaliSdnBhd
The Star
5 days ago
- Business
- The Star
Trading ideas: MMAG, Keyfield, KAB, Rimbunan Sawit, Jentayu, AYS, Country Heights, Metronic, Nestle, ViTrox, Oriental Interest, KIP REIT, Luxchem, Betamek
MMAG Holdings Bhd has entered into a conditional aircraft sale agreement to acquire a Boeing 737-800BCF freighter for US$25.9mn (RM109.9mn) cash. Keyfield International Bhd has secured 2 work orders from Petronas Carigali Sdn Bhd for the provision of accommodation work boats to support the national oil company's offshore operations. Kinergy Advancement Bhd has secured fee-in approvals for two hydropower projects with a total installed capacity of 8.04MW under the Sustainable Energy Development Authority's FiT 2.0 initiative. Rimbunan Sawit Bhd has announced the termination of its JV with LCDA Holdings Sdn Bhd to develop a parcel of native customary rights land in Ulu Selangau, Sibu into an oil palm plantation. Jentayu Sustainables Bhd said Sumitomo Corporation does not intend to extend a MoU the parties signed 2 years ago to collaborate on renewable energy projects. AYS Ventures Bhd said the voluntary takeover offer by its associate company 3HA Capital Pte Ltd for all shares in Singapore-listed CosmoSteel Holdings Ltd has become unconditional, after 3HA Capital's shareholding crossed the 50% threshold. Country Heights Holdings Bhd 's wholly-owned unit, Country Heights Commercial Development Sdn Bhd has been served with a winding-up petition by the Inland Revenue Board over RM312,560 in unpaid taxes. Metronic Global Bhd is ending its JV with Zhuhai SingYes New Materials Technology Co Ltd to develop and market smart city solutions across the country. Nestlé (Malaysia) Bhd's net profit rose 20.0% YoY to RM112.1mn in 2QFY25, thanks to a disciplined focus on operational efficiency and a prudent pricing strategy, which helped offset rising input costs. Vitrox Corporation Bhd reported a flat net profit of RM28.1mn in 2QFY25, despite a 33.4% YoY increase in revenue to RM 183.0mn due to a sharp rise in tax provision following the expiration of its pioneer status in mid-June. Oriental Interest Bhd reported its highest-ever quarterly net profit of RM45.5mn for 3QFY25, driven by record revenue of RM305.3mn from construction progress of ongoing projects and contribution from newly launched developments. KIP Real Estate Investment Trust 's FY25 net property income surged 24.4% YoY to RM96.8mn, mainly driven by the contribution from its 7 KIPMalls and its 4 industrial properties, as well as the newly bought D'pulze Shopping Centre and TF Value-Mart. Luxchem Corporation Bhd 's 2QFY25 net profit declined by 27.1% YoY to RM8.9mn amid lower sales from its business segments. Betamek Bhd 's 1QFY26 net profit rose 10.5% YoY to RM5.4mn due to consistent favourable performance of the ringgit against the USD and the CNY as well as the better expenses monitoring by each unit of the group.
New Straits Times
13-05-2025
- Business
- New Straits Times
Uzma unit bags electric wireline cased-hole services contract from Petronas Carigali
KUALA LUMPUR: Uzma Bhd's wholly owned subsidiary, Uzma Engineering Sdn Bhd, has secured a contract from Petronas Carigali Sdn Bhd for the provision of electric wireline cased-hole services. Uzma said the contract, secured via a letter of award, comprises non-rig assisted (NRA) electric wireline logging (EWL) equipment and services in East Malaysian waters. "This includes technical consultancy, provision of electric-line units, logging services, perforation, plug/packer setting services, downhole auxiliary tools, and other services for all types of wells," it told the stock exchange in a filing. The contract duration is three years, commencing from March 26, 2025 to March 25, 2028. The contract is expected to contribute positively to the company's earnings and net assets per share for the financial year ending June 30, 2025 and beyond until its expiry.
Free Malaysia Today
04-05-2025
- Business
- Free Malaysia Today
Anwar calls for calm over Petronas-Petros gas dispute
Prime Minister Anwar Ibrahim said he will meet with Sarawak premier Abang Johari Openg after the latter returns from his official trip to London. (Facebook pic) PETALING JAYA : Prime Minister Anwar Ibrahim has called for calm and restraint amid escalating tensions between national oil firm Petronas and Sarawak's state-owned Petros over their licensing dispute. Citing the need to protect mutual interest, Anwar urged all parties to hold off any action or public statement until further discussions are held, following a conversation with Sarawak premier Abang Johari Openg yesterday. 'Upon the premier's return from his official visit to London, United Kingdom, we will immediately hold further discussions to finalise the matter. 'I am strongly confident that this issue can be resolved prudently through prudent and meaningful discourse, God willing,' he said in an X posting today. This comes after Petronas confirmed that its subsidiary, Petronas Carigali Sdn Bhd, received a notice on April 30 from the Sarawak utility and telecommunications ministry concerning gas processing and distribution. In the letter, Carigali was accused of operating its Miri Crude Oil Terminal without a state licence. The state has given the company 21 days to rectify the matter, failing which it would face financial penalties under Section 21a of the state's Distribution of Gas Ordinance (DGO) 2016. Petronas maintains that its operations are authorised under federal law and has expressed willingness to engage with both federal and state governments to ensure regulatory clarity. Separately, Abang Johari was quoted by the Sarawak Public Communications Unit (Ukas) as saying he had given Anwar his assurance of pursuing a 'win-win solution' that ensures fair revenue distribution. 'In this issue, we're playing the game a bit with Petronas, but we will resolve it,' he reportedly said. 'The prime minister contacted me this morning, and we agreed to move forward with a fair and sincere approach,' he said, adding that Sarawak had fulfilled its responsibilities despite not receiving additional revenue.
Malaysiakini
03-05-2025
- Politics
- Malaysiakini
S'wak govt should respect Petroleum Development Act
The Sarawak government should respect the agreement with Putrajaya as outlined in the Petroleum Development Act 1974 (PDA 1974), instead of creating disputes involving the operations of Petronas Carigali Sdn Bhd (PCSB) at the Miri Crude Oil Terminal, according to an analyst. Azmi Hassan, a geo-strategist from the Nusantara Academy for Strategic Research, said that any disputes raised would only be detrimental to all parties involved, namely the federal government, the Sarawak government, Petronas and Petroleum Sarawak Bhd (Petros)...
Free Malaysia Today
02-05-2025
- Business
- Free Malaysia Today
Petronas acknowledges Sarawak's notices on gas activities
Sarawak's utility and telecommunications ministry has accused Petronas Carigali Sdn Bhd of operating its Miri Crude Oil Terminal without a state licence. KUALA LUMPUR : Petroliam Nasional Bhd (Petronas) today confirmed that its subsidiary, Petronas Carigali Sdn Bhd, received notices on April 30 from the Sarawak utility and telecommunications ministry concerning gas processing and distribution. Petronas said Carigali is statutorily authorised under the Petroleum Development Act (PDA) 1974 to undertake the company's activities and comply with all applicable laws in doing so. 'While we respect the aspirations of the state of Sarawak, Petronas also has a duty to uphold the PDA 1974 and safeguard national interests. 'Petronas will continue to engage constructively and work closely with the federal government, the Sarawak government and Petros in exploring future arrangements to ensure regulatory clarity and operational continuity for the benefit of the industry, state and nation as a whole,' Bernama quoted it as saying. Petronas said it is committed to ensuring the rights and interests of all parties, including end-consumers and investors, are addressed accordingly. Earlier today, Utusan Malaysia reported that Sarawak's utility and telecommunications ministry had accused the Petronas subsidiary of violating Section 7(e) of the state's Distribution of Gas Ordinance (DGO) 2016. In the letter, Carigali was accused of operating its Miri Crude Oil Terminal without a state licence and was given 21 days to rectify the matter, failing which it would face financial penalties under Section 21A. Section 7 of the DGO 2016 spells out the licensing of activities related to the distribution of gas, while subsection (e) covers the activities of building, managing or maintaining a gas pipeline or other apparatus, equipment or mechanisms for the distribution of gas.
