KUCHING: AirAsia Bhd (AAB) has paid about RM14.16 million to Malaysia Airports (Sepang) Sdn Bhd (MASSB) in relation to the latter’s claim for additional passenger services charges. The payment is based on the amount specified in the garnishee show cause orders dated Aug 23, 2019 to defray the garnishee execution
KUCHING: The traditional “close relationship” between Japan’s new housing starts and imports of plywood from Malaysia and Indonesia has been broken. So is such a relationship between the Japan’s housing starts and its imports of tropical logs, much of which is used to produce plywood. “The first signs of a break
KUCHING: Sarawak Consolidated Industries Bhd (SCIB)’s non-interested directors have recommended the company’s holders of offer shares in relation to the unconditional mandatory take-over offer of the company by Datuk Dr Mohd Abdul Karim Abdullah (offeror) to reject the offer. Under the take-over offer, the offeror will pay RM1.10 per offer
KUCHING: Independent adviser Mercury Securities Sdn Bhd has recommended non-interested shareholders of Dayang Enterprise Holdings Bhd to vote in favour of Dayang’s proposed rights issue and subscription of new redeemable convertible preference shares (RCPS) in Perdana Petroleum Bhd (PPB) during its upcoming extraordinary general meeting (EGM) on Oct 1 in
KUCHING: Sarawak Cable Bhd (SCB) has sought the assistance of the Corporate Debt Restructuring Committee (CDRC) of Bank Negara to restructure its massive debts. The manufacturer of power and telecommunication cables said it had received the approval of the CDRC on its application for assistance to mediate between the company
KUCHING: Hubline Bhd has proposed to acquire a 75 percent stake in Absolute Privilege Sdn Bhd (APSB) for RM16.365 million.The shipping firm has entered into a shares sale agreement with APSB’s major shareholder Pau Chiong Ching (vendor) to acquire 1.5 million shares in the latter. Vendalon Sdn Bhd owns the
KUCHING: Perdana Petroleum Bhd (PPB) has received approval from Bursa Securities on the company’s proposed renounceable rights issue of redeemable convertible preference shares (RCPS). From the rights issue of the RCPS, Perdana Petroleum intends to raise a minimium gross proceeds of RM455 million and maximium of RM506 million. Perdana Petroleum’s
KUCHING: Sarawak’s log prices are softening with improved production output.But the prices of higher grade logs which Japan wants have very little influence (little price change), according to the Japan Lumber Reports (JLR) latest issue (Aug 16 to 31).The improved log production is resulted from stepped up logging activities due
KUCHING: Samalaju Industrial Port Sdn Bhd (SIPSB) has awarded a RM23.42 million contract for maintenance dredging work to East Marine Works Sdn Bhd. The wholly-owned subsidiary of Bintulu Port Holdings Bhd (BPHB) has given notice to Selangor-based East Marine to commence works on Sept 17, 2019 until Feb 16,2020, BPHB
KUCHING: KKB Engineering Bhd has secured two contracts worth a combined RM29 million for the supply of pipes and fittings as well as steel products. The steel fabricator has entered into an agreement with Sinohydro Corporation (M) Sdn Bhd for the supply of pipes and fittings. The contract duration is