Sabah & Sarawak
LCCT still up in the air, plans to extend terminal in the cards
While there are no updates on plans for a low cost carrier terminal in Kuching, Malaysia Airports Sdn Bhd (Malaysia Airports) says there are plans for extension of the Kuching International Airport terminal. According to Malaysia Airports Kuching senior manager Mohd Nadzim Hashim, there is no solid information regarding the LCCT at this moment.
O&G remain strong driving force for Bintulu Port
The Liquefied Natural Gas and Oil and Gas industries will continue to be the biggest contributors to the growth and business sustainability of the Bintulu Ports Holdings Bhd. Group chief executive officer Dato Mohd Medan Abdullah reaffirmed the group’s mission would be to continue to service the local O&G scene with a focus on LNG – the group’s main bulk of cargo handling.
Harvey Norman forays into East Malaysia with first outlet
Harvey Norman is set to expand its presence in East Malaysia via its first outlet here at Vivacity Megamall, marking itself as the fourth anchor tenant of the mall. Harvey Norman will take up 46,806 square feet on Level 1 and 2 of the East Atrium and carry an extensive range of household trusted products whislt striving to provide their customers with quality products and professional services every day.
Coramax a success story of Sarawak’s enterprises
The success story of Coramax Mall Sdn Bhd – owner and manager of Vivacity Megamall in Kuching – epitomises a typical landmark of Sarawak’s business enterprises. According to Minister of International Trade and E-commerce Dato Sri Wong Soon Koh, this was evident as the mall has now provided employment opportunities for 3,000 Sarawakians, many of whom have come home from abroad.
TM Sabah to install additional 30,000 ‘home passes’ for Unifi service
Telekom Malaysia Bhd (TM) Sabah has installed 60,000 to 70,000 ‘home passes’ for its high-speed broadband service, Unifi, at major towns in Sabah and Labuan and would be installing another 30,000 this year. State general manager, Sukkuriya Masri, said the installation of the ‘home passes’ loops in the fibre technology providing access to high-speed broadband was part of the first phase of its expansion to provide service to its customers in Sabah.
National
‘Maritime industry needs clearer picture of cabotage policy’
There is a need to make clear the uncertainties surrounding implementation of exemption of the cabotage policy for Sabah, Sarawak and Labuan, the Malaysia Shipowners’ Association said. Prime Minister Datuk Seri Najib Tun Razak had announced the exemption of the cabotage policy from June 1, 2017. MASA chairman Faizul Ismail said in a statement a clearer explanation is required on whether the exemption will only affect general and containerised cargo or in a worst case scenario, is applicable to all cargo.
Advancecon eyes RM56.7 mln from IPO
Earthworks and civil engineering services specialist, Advancecon Holdings Bhd, slated for listing on the Main Market of Bursa Malaysia on July 10, expects to raise RM56.7 million from the initial public offering. The IPO would be used to support capital expenditure and working capital requirements for future growth, among others.
MAHB signs two mous to achieve KLIA Aeropolis goal
Malaysia Airports Holdings Bhd (MAHB) has signed two memorandums of understanding with South Korea’s Gyeongnam Techno Park (GNTP) and Denmark’s Skyway Technics towards achieving the KLIA Aeropolis goal of becoming a world-class airport city. The MoUs were signed during MAHB’s participation at the Paris Airshow 2017.
China’s inclusion in MSCI Index to have muted impact on Malaysia
China’s inclusion in MSCI’s Emerging Markets Index will have a fairly minimal impact on other emerging markets, including Malaysia. However, analysts also cautioned that this marks an inevitable shift from other emerging markets in the index, in favour of China’s stocks.
BNM to fully cooperate with RCI on forex losses info
Bank Negara Malaysia will extend its full cooperation to the Royal Commission of Inquiry (RCI) in providing information relating to foreign exchange market losses. In a statement on Thursday, BNM said it will provide information as required by the law.
SC introduces clearing as a new regulated activity
Securities Commission Malaysia has introduced amendments to its regulatory framework to include clearing for securities and derivatives as a new regulated activity. This framework would decouple clearing and trading functions into two distinct regulated activities, allowing intermediaries to specialise in their niche services.
GEELY signs final contract with DRB-Hicom
Chinese carmaker, Zhejiang Geely Holding Group, has signed a final contract with DRB-Hicom Bhd on Friday, acquiring 49.9 per cent of the latter and 51 per cent stake in luxury sports car brand Lotus.
The company said the acquisition was expected to be completed in three months, after which Geely would form a core management team recruited from a pool of global candidates to ensure the smooth operation of Proton.