KUCHING: Velesto Drilling Sdn Bhd has secured a US$131 million (RM541 million) contract from Carigali Hess Operating Company Bhd for the provision of 10K jack up drilling rig for its 2020 drilling programme. The contract is expected to commence in second half of 2020 for a duration of three years,
KUCHING: The oil palm business has emerged as the biggest revenue generator for Jaya Tiasa Holdings Bhd, a traditional timber-based company. The group’s planted oil palm areas has expanded to 69,589 hectares, spreading over 10 plantations in Sarawak, which have all matured. The group also owns four palm oil mills
KUCHING: Jaya Tiasa Holdings Bhd expects its logging business to be hit by weakening demand and increased competition from other timber producing regions. According to its chief executive officer Datuk Wong Sie Young, the ongoing trade war between US and China would affect timber price and demand. Already, the Sibu-based
KUCHING: Sarawak Consolidated Industries Bhd (SCIB) has secured five engineering, procurement, construction and commissioning (EPCC) contracts worth a total of RM175.4 million. Two of the contracts are in Malaysia and three others overseas — in Indonesia, Qatar and Oman. This is believed to be the first time for SCIB, whose core
KUCHING: Shin Yang Shipping Corporation Bhd (Syscorp) has boosted the transportation capacity of its containerised shipping with the acquisition of two container vessels. The two vessels, which were bought in the financial year ended June 30, 2019 (FY2019) has carrying capacity of 800 to 1,000 twenty-foot equivalent units (TEU) per
KUCHING: Sarawak Oil Palms Bhd’s (SOP) wholly-owned subsidiary Asia Oils Investment Ptd Ltd (AOIPL) has subscribed for shares worth US$4.625 million in a Singapore-based company, Seaworth Pte Ltd. The share subscription is to enable the SOP group to participate in the shipping business and to provide logistical support to the
Press Metal unit acquires four aluminium-related firms KUCHING: Press Metal Aluminium Holdings Bhd’s wholly-owned subsidiary PMB (Klang) Sdn Bhd is buying several aluminium-related companies in Peninsular Malaysia and Sabah for cash consideration of RM44.39 million. Three of the companies are owned by Everlast Aluminium (M) Sdn Bhd, which is 100
KUCHING: Business tycoon Datuk Dr Mohd Abdul Karim’s (pic) unconditional mandatory takeover offer to acquire the remaining Kumpulan Powernet Bhd (KPB) shares not already owned by him and persons acting in concert (PACs) will remain open for acceptances until Nov 13, 2019. The executive deputy chairman of KPB is offering
KUCHING: Dayang Enterprise Holdings Bhd (DEHB) will make the first issuance of unrated Islamic medium term notes (Sukuk Murabahah) Programme within 60 business days from Oct 22, 2019, the day it made a lodgement with Securities Commission Malaysia (SC). The lodgement pursuant to SC’s Guidelines on Unlisted Capital Market Products
KUCHING: TDM Bhd’s Indonesian subsidiary has been sanctioned by the Indonesian authorities and ordered to stop activities in about 900 hectares of oil palm plantation area damaged by fire recently. TDM said its subsidiary PT Rafi Kamajaya Abadi (PT RKA) had received and accepted the decision of the governor of