Sabah & Sarawak
Vivocom’s Neata bags projects totalling RM80 million
Vivocom Intl Holdings Bhd’s (Vivocom) subsidiary, Neata Aluminium (M) Sdn Bhd (Neata), is fast developing into a formidable force in its own right, having bagged projects totaling RM80 million.
In a statement to Bursa Malaysia on Monday, it was announced that Neata was awarded RM37.5 million worth of contracts, with the latest projects being Third Avenue Cyberjaya for an amount of RM22.5 million, and Kemensah Development for an amount of RM15 million for the supply and installation of aluminium works.
Sabah govt denies O&G project will be developed in Kudat
The Sabah government has denied a claim that an oil and gas project has been earmarked for Kampung Limau Limauan, Kudat.
Dismissing reports, State Deputy Chief Minister Datuk Raymond Tan Shu Kiah said even though a 485-hectare site had been allocated for an industrial development in Kudat, the state government had not made any decision to develop any o&g projects in the area.
Press Metal gets RM70 mln in compensation for last year’s fire incident
The announcement from Press Metal Bhd’s (Press Metal) that the group has so far received RM70 million from its insurer to compensate for losses incurred from last year’s fire incident has reassured analysts.
In a filing on Bursa Malaysia, Press Metal revealed that the group had on April 5, 2016, received the second interim claim of RM50 million from the insurer, MSIG Insurance (Malaysia) Bhd.
Shell bringing first US import of Malaysian condensate
A cargo of Malaysian Bintulu condensate bought by Royal Dutch Shell is sailing to New Orleans, Louisiana, a trade source in Asia familiar with the matter said on Tuesday, in what appears to be the first US import of that grade of offshore oil according to Thomson Reuters Trade Flows data.
The Polaris, a medium-range vessel, loaded 200,000 barrels of the condensate at Malaysia’s Bintulu terminal in early February, before stopping at Singapore’s Jurong Port to pick up another parcel, the source said.
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National
Colombia zero rates imports of palm oil for six months
Malaysian palm oil and oleo-chemical manufacturers should grab the opportunity offered by Colombia’s temporary tariff reduction for palm oil and palm oil-related products.
The Colombian government recently published a decree authorising imports of palm oil at a zero rate from the previous 40 per cent, for a period of six months from February 29 to August 29, 2016, the Malaysia External Trade Development Corporation (Matrade) said.
SME Corp to groom E50 awardees for listing
SME Corporation Malaysia (SME Corp) is preparing small and medium companies (SMEs), particularly Enterprise 50 (E50) Award winners, to go for listing on Bursa Malaysia Bhd. The annual E50 Award recognises the achievements of 50 home-grown high-potential SMEs.
Malaysia’s total trade rises to RM106.09 bln in February
Malaysia’s total trade rose 4.2 per cent to RM106.09 billion in February from the RM101.78 billion recorded in the same month in 2015 and on the back of a rebound in export growth in the month under review. The International Trade and Industry Ministry (Miti) said Malaysia’s export growth in February rebounded by 6.7 per cent or RM3.55 billion to RM56.72 billion, after posting a negative growth of 2.8 per cent year-on-year in January.
No major impact to IGB REIT from MidValley gas explosion
Analysts do not expect the gas explosion at Mid Valley Megamall on Tuesday at two food and beverage outlets to negatively impact IGB Real Estate Investment Trust (IGB REIT). The incident occurred during re-instatement works to Mid Valley Megamall’s liquefied petroleum gas (LPG) system after maintenance works.
Maxis CEO promises higher data quota for all customers
Maxis Bhd (Maxis) promises to upgrade the quotas for all existing MaxisOne customers following backlash received on social media. Chief executive officer Morten Lundal apologised to customers in a live feed video on Facebook, promising a quota upgrade to all existing MaxisOne customers.