The Development Bank of Sarawak Bhd (DBOS), which is now into its third year of commercial operation, is an alternative financing model created by the Sarawak government. The state-owned bank’s mission is to play a pivotal role in providing financing of public infrastructure and strategic projects to accelerate Sarawak’s economic
KUCHING: Soaring palm oil prices in recent weeks have driven up the share prices of Sarawak-based plantation companies to their highest levels in about two years. The benchmark palm oil contract for March 2020 delivery on the Bursa Malaysia Derivatives Exchange hit the RM3, 000 per tonne mark and jumped
KUCHING: Sarawak’s exports of logs and timber products jumped by about 15 percent or RM48 million in free on board (FOB) values to RM368.2 million in November from RM320.3 million in October 2019. Logs and key timber products, like plywood, sawn timber, fibreboard and veneer, all recorded higher export volumes
KUCHING: Perdana Petroleum Bhd (PPB) and its subsidiaries have been discharged from the purview of the Corporate Debt Restructuring Committee (CDRC) of Bank Negara following the completion of the company’s debt restructuring exercise. The CDRC notified Perdana Petroleum of the discharge on December 16, 2019, Perdana Petroleum said in a
KUCHING: Log supply in Malaysia is dropping rapidly as the country is in the rainy season again, affecting timber harvesting activities. The decline in supply is pushing up log prices, according to the Japan Lumber Reports (JLR). “After log prices dropped in last summer, log suppliers have begun reducing harvest
KUCHING: The government of Papua New Guinea (PNG), a key producer of tropical timber, will steeply raise log export taxes under its National Budget 2020. As the new rates of export tax announced are up to 50 percent, this has drawn strong disapproval and criticisms from the timber players. The
KUCHING: Serba Dinamik Holdings Bhd’s (SDHB) new warrants made another impressive gain on its second day trading on Bursa Malaysia yesterday. The warrants opened 30 sen higher at 60.5 sen, which was the limit up price for the day. On Friday, the free warrants were traded at limit up price
KUCHING: Malaysian and Indonesian hardwood plywood are losing their shine and dominance in the Japanese market. According to the Japan Lumber Reports (JLR), the most noticeable change is that imported plywood is no longer influential in the plywood market. “Imported South Sea (tropical) hardwood plywood used to dominate the market
KUCHING: Dayang Enterprise Holdings Bhd’s rights issue has been oversubscribed by 89,380,199 shares or 92.64 percent. When application for the rights issue closed on Dec 6, the acceptances by shareholders amounted to 94,648,022 shares or 98.1 percent while excess applications totalled 91,213,160 shares or 94.54 percent. “The total acceptances and
KUCHING: Serba Dinamik Holdings Bhd’s newly issued free warrants hit limit-up price of 30.5 sen in its debut on Bursa Malaysia yesterday. At the opening bell, 152, 600 warrants were transacted at 30.5 sen, which is a 44.09 percent premium from the exercise price of RM2.62 to mother share. Serba
