Latest news with #RM50.4
Daily Express
01-08-2025
- Business
- Daily Express
RM50 million for 42,000 Sarawak students
Published on: Friday, August 01, 2025 Published on: Fri, Aug 01, 2025 Text Size: Premier Abang Johari emphasised the programme's role in cultivating a globally competitive generation, capable of seizing opportunities both domestically and internationally. KUCHING: The Sarawak Government demonstrated its unwavering commitment to education by launching the Special Financial Aid (BKK), a RM50.4 million initiative providing crucial financial support to 42,000 Sarawakian students pursuing higher education nationwide. Each eligible student will receive RM1,200, disbursed via the S Pay Global platform in two RM600 instalments per semester. This aid, announced by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg in Kuala Lumpur, is open to all Sarawakian students, regardless of income, signifying a proactive approach to ensuring accessibility and opportunity. The BKK is more than just financial assistance; it's a strategic investment in Sarawak's future. Premier Abang Johari emphasised the programme's role in cultivating a globally competitive generation, capable of seizing opportunities both domestically and internationally. This initiative underscores the Sarawak Government's vision of empowering its youths through education, bolstering the State's economic competitiveness on a global scale. The programme's expansion from its initial focus on lower-income households to encompass all full-time diploma and bachelor's degree students highlights a commitment to inclusivity and equity. Deputy Prime Minister Datuk Seri Fadillah Yusof's Facebook post confirmed the approval of 15,000 applications, with payments underway, and announced a second application phase opening in September for new and missed applications. This phased rollout ensures a smooth and efficient distribution of funds, maximising the impact of this significant investment. The BKK exemplifies the Sarawak Government's dedication to its people, translating its strengthening revenue into impactful welfare and education programs. This initiative is not merely a financial handout; it's a powerful symbol of the State's determination to leave no one behind in its pursuit of progress and prosperity. The programme's success will undoubtedly contribute to Sarawak's continued growth and development, driven by a well-educated and empowered populace. * 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
Borneo Post
30-07-2025
- Business
- Borneo Post
Sarawak rolls out special cash aid for tertiary students, RM50.4 mln allocated
Abang Johari (fourth left) shows the S Pay Global app on his phone to some Sarawakian students attending the ceremony in Kuala Lumpur today. – Photo by Sarawak Public Communications Unit KUCHING (July 30): The Sarawak government has allocated RM50.4 million for the Special Financial Aid (BKK) to support Sarawakian students pursuing higher education during its launch in Kuala Lumpur today. Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg during the launch announced that each eligible student will receive RM1,200, disbursed in two phases of RM600 per semester via the S Pay Global platform. Open to all Sarawakian students regardless of household income, the BKK aims to ease the financial burden on families and help students focus on their academic journey. The aid is expected to benefit around 42,000 Sarawakian students currently enrolled in institutions of higher learning nationwide. 'The Sarawak government under Gabungan Parti Sarawak (GPS) has delivered on its promise. This shows that we care, not only about the students as Sarawakians, but because we are a government that is genuinely concerned about the future of our state,' said Abang Johari. Also at the ceremony here were Deputy Prime Minister Dato Sri Fadillah Yusof; Sarawak Minister for Education, Innovation and Talent Development, Dato Sri Roland Sagah Wee Inn; Works Minister Dato Sri Alexander Nanta Linggi; Sarawak State Secretary Datuk Amar Mohamad Abu Bakar Marzuki; Sarawak Attorney-General Dato Sri Saferi Ali; and other dignitaries. The Premier described the BKK as part of a larger strategy to empower youth through education and enhance Sarawak's global economic competitiveness. 'This assistance is provided regardless of students' backgrounds. We want to cultivate a generation that is knowledgeable, competitive and ready to seize opportunities not just within Sarawak, but internationally,' he said. Abang Johari also stressed the importance of preparing Sarawak's youth to become globally competent professionals in an increasingly borderless economic landscape. 'This is a strategic form of assistance. We have bright Sarawakian students who are intellectually capable and can pursue studies that are relevant to current global economic developments,' he said. He further noted that application numbers are expected to increase and reaffirmed the state's commitment to introducing more student-focused initiatives in the future. Introduced as part of Abang Johari's winding-up speech during the Sarawak State Legislative Assembly sitting in November last year, the assistance was initially targeted at students from households with a per capita income of RM1,500 or below. However, the eligibility has since been broadened to include all full-time diploma and bachelor's degree students with Sarawakian status, regardless of socioeconomic background. Meanwhile, Sarawak Minister for Education, Innovation and Talent Development, Dato Sri Roland Sagah Wee Inn, in his speech said the aid is designed not only to ease students' financial pressures but also to motivate them to excel in their studies. A second application phase will open in September, catering to newly enrolled students and those who missed the initial round. Abang Johari BKK financial aid tertiary education
The Sun
18-07-2025
- Business
- The Sun
Enproserve makes ACE Market debut, steps up diversification to secure recurring income
KUALA LUMPUR: Enproserve Group Bhd, a provider of plant maintenance and engineering services, is charting a strategic expansion into the heavy lifting and equipment rental segment – a move the company views as a scalable, recurring income stream beyond its traditional contract-based operations. While the group remains firmly anchored in its core offerings – plant maintenance and turnaround and engineering, procurement, construction and commissioning – it is now broadening its portfolio to include rental services for cranes, skylifts and small lorries. This diversification gained momentum following the recent signing of a master service agreement with Petroliam Nasional Bhd (Petronas), covering multiple subsidiaries including Petronas Chemicals Group Bhd, Petronas Gas Bhd and Petronas Chemicals Fertiliser Kedah Sdn Bhd. 'This is an asset-heavy segment, but it's one we are confident in,' Enproserve CEO Mohamad Nizam Yaakub said at a press conference following the company's listing on Bursa Malaysia's ACE Market today. 'The rental business provides recurring income, and we're targeting strong demand across Peninsular Malaysia.' Enproserve currently holds 33 long-term contracts, primarily with Petronas and its subsidiaries, extending through 2029. Its exclusive focus on downstream operations provides a degree of insulation from the volatility of crude oil prices. 'Plant maintenance will never stop. These are statutory requirements,' said group managing director Azman Yusof. 'Unlike upstream operations, which may scale down during periods of low oil prices, downstream plants must remain operational – and that means ongoing maintenance is non-negotiable.' This resilience has enabled Enproserve to become one of the few 'pure-play' downstream service providers listed on the local bourse. This niche positioning analysts believe could attract institutional investor interest in the near future. The group's current operations span Johor, Malacca, Terengganu and its Cyberjaya headquarters. While East Malaysia is not on its immediate roadmap, Azman said, the company remains open to expansion should the right partner or opportunity arise. 'Right now, we're staying focused on the 2027 Pengerang Integrated Complex (PIC) turnaround. It requires over a year of preparation, and we don't want to stretch ourselves too thin,' he explained. Enproserve opened at 26 sen in its market debut today, two sen above the initial public offering (IPO) price of 24 sen, with 5.31 million shares traded at the opening bell. It closed at 26.5 sen, 2.5 sen or 10.4% above the IPO price, on volume of 75.849 million shares. The IPO raised RM50.4 million, with RM23.7 million earmarked for capital expenditure, including the purchase of cranes, forklifts, and other heavy machinery. These assets will support internal operations and be made available for rental. 'We didn't expect the price to rise this morning given current market sentiment, but it shows that investors are confident in our direction,' said Azman. 'We feel relieved and optimistic.' While the group does not yet have a formal dividend policy, Azman confirmed that one would be introduced 'eventually', particularly as the company eyes a future transfer to the Main Market. Meanwhile, Enproserve is positioning itself as a key player in Malaysia's largest-ever plant turnaround project – the PIC in Johor. The complex is described by Azman as 'the biggest in Southeast Asia', and the scale of the 2027 turnaround is expected to contribute significantly to the group's revenue. Though exact figures are subject to unit-rate contracts, Azman described the opportunity as 'much larger than what we are currently securing', and one that necessitates a full year of integrated planning. 'We're already mobilising internal resources and preparing our teams to ensure a seamless execution,' he said. 'This is not just another job – it is the largest plant turnaround in Malaysia.' With more than two decades of experience, Enproserve is licensed by Petronas through Standardised Work and Equipment Categories codes, and is registered as a Grade G7 contractor with the Construction Industry Development Board, enabling it to undertake projects of unlimited value. As Malaysia's oil and gas and petrochemical sectors prepare for cyclical maintenance and capacity expansion, Enproserve's combination of niche expertise, deep client relationships, and fresh capital from its IPO places it in a strong position to ride the sector's growth wave. 'We believe in organic growth. And right now, the growth ahead of us is both significant and achievable,' Azman said.
New Straits Times
18-07-2025
- Business
- New Straits Times
Enproserve rises 8.3pct on Ace Market debut
KUALA LUMPUR: Mechanical and civil engineering services firm Enproserve Group Bhd made its ACE Market debut at 26 sen, marking an 8.3 per cent premium over its initial public offering (IPO) price of 24 sen. The stock climbed to a high of 30.5 sen, representing a 27 per cent gain, with 32.7 million shares traded. Enproserve raised RM50.4 million through its IPO to enhance its capabilities in providing mechanical and civil engineering services to the oil and gas as well as petrochemical sectors. The IPO involved the issuance of 315 million new shares, representing 30 per cent of its enlarged share capital of 1.05 billion shares. From the total proceeds, Enproserve intends to allocate RM33.7 million, or 66.9 per cent, towards capital and operational expenditure. This includes investments in heavy-lifting equipment, facility upgrades, and the expansion of its plant maintenance and turnaround service offerings. Enproserve holds full accreditation under Petroliam Nasional Bhd's licensing and registration system for the relevant standardised work and equipment category codes, enabling the group to offer a wide range of services to Malaysia's oil and gas and petrochemical industries.
New Straits Times
26-06-2025
- Business
- New Straits Times
Enproserve launches IPO at 24 sen a share to raise RM50.4mil
KUALA LUMPUR: Enproserve Group Bhd has launched its initial public offering (IPO) at 24 sen per share, aiming to raise RM50.4 million to boost its capacity in mechanical and civil engineering services for the oil and gas, and petrochemical industries. The company's IPO, which opened for applications today and closes on July 8, involves the issuance of 315 million shares, representing 30 per cent of its enlarged share capital of 1.05 billion shares. Of the RM50.4 million proceeds raised from the new share issuance, Enproserve plans to allocate RM33.7 million or 66.9 per cent for capital and operational expenditure, including the purchase of heavy-lifting equipment, facility upgrades and expansion of its plant maintenance and turnaround services. Group managing director Azman Yusof said the listing marks a pivotal step in the group's next growth phase, especially as it prepares to meet surging demand under long-term contracts with industry giants like Petronas and PRefChem. "We are gearing up for Malaysia's largest-ever plant turnaround exercise at a petrochemical facility in Johor. This IPO allows us to invest in equipment and improve internal capabilities to support large-scale projects," he said in a statement. Azman added that the group is also constructing a new crane depot and expanding its asset rental operations to create a steady secondary revenue stream and improve operational efficiency. Enproserve recorded its best-ever financial performance in FY2024, with revenue rising 21 per cent year-on-year to RM198.4 million and net profit surging 71 per cent to RM21.1 million. Of the 210 million new shares, 139.18 million will be placed out to selected investors, 52.5 million will be offered to the Malaysian public via balloting, and 18.32 million reserved for eligible directors, staff and contributors. The 105 million offer-for-sale shares will be allocated via private placement. KAF Investment Bank is the principal adviser, sponsor, sole placement agent, and underwriter for the IPO. Enproserve is scheduled to list on the ACE Market of Bursa Malaysia on July 18. Founded in 2001, Enproserve is a long-standing engineering service provider to Petronas and PRefChem, with operations spanning Johor, Melaka, Terengganu, and Putrajaya.
