Sabah & Sarawak
Bintulu Port awards contract to Blessed General worth RM14 million
Bintulu Port Holdings Bhd (Bintulu Port) has awarded a contract worth approximately RM14.19 million to Blessed General Contractor Sdn Bhd (Blessed General).
The port management company in a filing to Bursa Malaysia said its wholly-owned subsidiary Bintulu Port Sdn Bhd (BPSB) has issued a Letter of Acceptance dated December 6 to Blessed General.
Successful production from Petronas’ first floating lng facility
Petroliam Nasional Bhd’s (Petronas) first floating liquefied natural gas (LNG) facility, PFLNG SATU has achieved an industry breakthrough with the successful production of its first drop of LNG from the Kanowit gas field, offshore Sarawak on December 5, 2016. The operational milestone marks a decade long journey for Petronas since conceptualising a floating LNG facility to maximise the potential of remote and stranded gas reserves to deliver a game changer in the global LNG business.
International passenger traffic at KKIA up 28 pct for January to October 2016
International passenger traffic movements at Kota Kinabalu International Airport (KKIA) registered a 28 per cent growth rate year-to-date for the January to October 2016 period. In a statement, Malaysia Airports Holdings Bhd (MAHB) said the double-digit growth was a result of the consolidation of operations, which allowed greater capacity to cater to a higher number of passengers.
SESB to be regulated under IBR in 2017
Sabah Electricity Sdn Bhd (SESB), a 83 per cent subsidiary of Tenaga Nasional Bhd (TNB), will be regulated under the Incentive Based Regulation (IBR) with a trial year in 2017.
This will be followed by the first IBR regulatory period for SESB between 2018 and 2020, TNB said in its 2016 Annual Report.
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National
Malaysia Airlines offers new year low fares to celebrate PSC equalisation
Malaysia Airlines will be introducing a big sales campaign beginning Jan 1, 2017, offering fares from as low as RM99 for domestic and Asean travels. This is in conjunction with the New Year celebration and in anticipation of the equalisation of the passenger service charge (PSC), which will see a reduction of RM35 (US$8.33) per passenger for Asean passengers at the Kuala Lumpur International Airport (KLIA).
Cradle Private Investment fund grows to RM190.2 mln
Cradle Fund Sdn Bhd (Cradle) is on track to drive more private investment participation to boost the ecosystem for Malaysian technology startups with co-investment funds of RM190.2 million, up from RM161.2 million as of June this year.
Chief executive officer, Nazrin Hassan, said the co-investment programme was one of the company’s efforts to help reduce government-linked companies’ dependence on government funding.
China-LED RCEP an alternative to TPP, says fitch ratings
The China-led Regional Comprehensive Economic Partnership (RCEP) could turn out to be an alternative to the Trans-Pacific Partnership (TPP). International rating agency, Fitch Ratings, in its 2017 Outlook: Emerging Asia Sovereigns Report, said RCEP, however, has limited regulatory reforms and large consumer markets in the Americas were excluded.
Najib confident nation’s economy can reach RM2 trillion in seven-eight years
Prime Minister Datuk Seri Najib Tun Razak is confident Malaysia’s economy will reach RM2 trillion in seven to eight years.
Najib, who is also Finance Minister, said the rapid development of Iskandar Malaysia will help the country reach the target.
Tanjung Offshore pursues business expansion in aerospace
T7 Aero Sdn Bhd (T7 Aero), a wholly owned subsidiary of Tanjung Offshore Berhad (Tanjung Offshore) has entered into a Memorandum of Understanding (MOU) with Kilgour Metal Treatments Ltd (Kilgour) in respect of a desired collaboration in pursuing business opportunities in metal treatments in Malaysia. Under the MoU, TOB and Kilgour will explore the building, operation and setup of a metal treatment plant in Malaysia as part of their diversification into high value manufacturing.
Malaysia’s January-October total trade valued at RM1.206 trillion
Malaysia’s total trade from January-October 2016 was slightly lower at RM1.206 trillion compared to the RM1.210 trillion posted in the same period of last year. The International Trade and Industry Ministry (Miti) in a statement said Malaysia also recorded a trade surplus of RM69.25 billion compared with RM73.04 billion for the same period of 2015.
ABM supportive of measures to stabilise ringgit
The Association of Banks in Malaysia (ABM) has refuted reports that banks are benefitting from the recent measures to increase the demand for ringgit. In a statement, the association said bank customers were encouraged to shop around for banks which best meet their needs in terms of pricing, services and other considerations.
Gecommunity 2016 targets RM100 mln cross-border value creation
The Global Entrepreneurship Community 2016 (GECommunity 2016) is targetting RM100 million in cross-border value creation, says Prime Minister Datuk Seri Najib Tun Razak. This can be achieved through the GECommunity 2016’s nine industry-specific cluster laboratories (labs) namely smart cities, health, creative, biotech, supply chain, education, lifestyle, finance and social innovation, which would bridge the corporate and entrepreneurship worlds.