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
KUCHING: A Dayang Enterprise Holdings Bhd (Dayang) unit has won a new contract for the maintenance of offshore structure from Petronas Carigali Sdn Bhd. Wholly-owned subsidiary Dayang Enterprise Sdn Bhd (DESB) was awarded the contract for the provision of hook-up, commissioning and topside major maintenance services — Peninsular (Non-ANGSI and
KUCHING: Borneo Oil Bhd, which owns fast-food restaurant chain SugarBun, has made massive impairments to the assets and expenditure related to the group’s mining and energy operations. This has resulted in the company’s mining, energy and related business division to suffer a huge loss of RM73.06 million in fourth quarter
KUCHING: BLD Plantation Bhd’s bottomline has been hit by the lower average selling prices of palm oil products. In the first quarter ended June 30, 2019 (Q1-2019), BLD suffered group net loss of RM17.58 million on revenue of RM338.8 million. Loss per share was 18.8 sen. There were no comparison
KUCHING: Hubline Bhd has generated a first time revenue of RM6.3 million in third quarter ended June 30, 2019 (Q3-2019) from the recent acquisition of a 51 percent stake in aviation company Layang Layang Aerospace Sdn Bhd. The shipping firm paid about RM14.2 million for the stake in Layang Layang,
KUCHING: Bilateral trade between Malaysia and Cambodia, a long-established investment destination of Malaysia banks and other leading corporate firms, has blossomed over the years. This is evident as the two-way trade between the two Asean member countries has grown stronger from RM425.6 million in 2016 to RM445.8 million in 2017