Sabah & Sarawak
Huge potential for Sarawak to tap into by industrial by-products sector
Given the rise of industrial development throughout the nation, Sarawak has potential to process by-products or industrial waste into raw materials for the construction sector.
NEVEK Consulting Ltd’s managing director Dr. Keven Harlow said there are vast potential for by-products to be turned into inputs such as cement, concrete and steel structure for the development of the construction industry in the state.
French parliament scraps planned extra tax on palm oil
France’s National Assembly on Wednesday scrapped plans for an additional tax on palm oil, which had raised an outcry in major producing countries, after the government said it would propose a new tax scheme for vegetable oils used in food.
The world’s two largest palm oil producers, Indonesia and Malaysia, had said the tax, which aimed at encouraging the sector to reduce the environmental damage palm oil plantations
can cause, was discriminatory and against international trade rules.
VIVOCOM secures another two contracts amounting to RM37.8 million
Vivocom Intl Holdings Berhad (Vivocom) has secured another two separate contracts amounting to RM37.8 million which further enhances its already strong earnings and net assets to date.
Vivocom’s construction arm, Vivocom Enterprise Sdn Bhd, on Thursday received and accepted a Letter of Award (LOA) for a RM25 million construction project from Kiara 5
Development Sdn Bhd to be Turnkey Contractor for the construction of a block of 19 units low density
apartment at Kampung Kayu Ara, Mukim Sungai Buloh, Selangor.
RAM reaffirms Sabah Credit Corporation’s sukuk ratings
RAM Ratings has reaffirmed the AA1/Stable/P1 ratings of Sabah Credit Corporation’s (SCC) outstanding sukuk instruments. The ratings mainly reflect the firm’s expectation of continued support from the state government.
Ta Ann’s plantations segment starting to bear fruit
Ta Ann Holdings Bhd’s (Ta Ann) plantation division will likely take the lead in 2016 due to increasing production and better crude palm oil (CPO) prices. The research arm of Affin Hwang Investment Bank Bhd highlighted that the rising fresh fruit bunches (FFB) and CPO production coupled with better CPO prices should provide future earnings growth for Ta Ann.
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National
Malaysia in talks to move startup of B10 biodiesel programme to July
Malaysia is in talks with oil companies about moving the start of its B10 biodiesel mandate to July, a month later from an earlier plan to begin the programme in June, aiming to complete full implementation of the new standard by August. This takes into account time needed for oil companies to reset blending ratios and procure enough palm methyl ester (PME), said the ministry of plantation industries and commodities in an email reply to Reuters, referring to the bio component of biodiesel that comes from palm oil.
Matrade urges Malaysian firms to familiarise with new US food safety regulation
The malaysia external trade development corp (matrade) is urging malaysian companies to familiarise themselves with the new food safety regulation introduced by the us food and drug administration (fda) which was announced in may this year. matrade said, the new rule required companies within the country and abroad to take steps to prevent intentional adulteration of the food supply.
GLT to raise fund through equity crowdfunding
Green Lagoon Technology Sdn Bhd (GLT) is the first green technology company in Asean looking to raise funds through an equity crowdfunding platform.
The move will help the palm oil mills manage their biogas emissions and wastewater to generate renewable income streams. GLT, a one-stop solutions provider that turns palm oil mill effluent into renewable energy, specialises in biogas trapping, harvesting, storage, treatment and utilisation.
AirAsia adamant on klia2 being LCCT2
AirAsia is adamant on using the word ‘LCCT2’ when referring to klia2, the new budget passenger terminal, and for Malaysia Airports Holdings Bhd (MAHB) to acknowledge the low cost carrier’s role as the biggest tenant at the airport. Chief executive officer Aireen Omar said as in the group’s campaign launched a fortnight ago, AirAsia would be stating klia2 as LCCT2 on its websites, tickets and promotional materials soon.
Dancomech plans to raise RM18 mln from IPO
Dancomech Holdings Bhd, en route to listing on the Main Market of Bursa Malaysia on July 21, plans to raise RM18 million from its initial public offering (IPO). The company is principally involved in trading and distribution activities within the Process Control Equipment (PCE) and Measurement Instruments market in Malaysia.
EU, UK leaders must take steps to boost business confidence — EU-ABC
European Union (EU) and British leaders must take steps to boost confidence to ensure a smooth transition and send out a strong message to others including South-East Asian businesses that business will be as usual despite the alarming vote by the United Kingdom (UK) to leave the EU.
“The British public have voted. We hope that the politicians and policy makers will now work together to ensure a smooth transition,” EU-ABC Executive Director Chris Humphrey said in a statement.