The week at a glance 29 March 2015

0

Sabah & Sarawak

Sarawak’s plantation sector poised for acerage growth

The state’s plantation sector is poised for growth as Affin Hwang Investment Bank Bhd (Affin Hwang Capital) believes Sarawak can increase its oil palm planted area to two million hectares (ha) through the Sarawak Corridor of Renewable Energy (SCORE).

The firm in its overview report on Monday reiterated the SCORE hopes of increasing the oil palm planted area to approximately two million ha by 2020 from approximately 1.3 million ha as at end-2014.

SEB to improve pure transmission, distribution systems across Sarawak

State power player Sarawak Energy Bhd (Sarawak Energy) plans to spend between RM8 to RM10 billion over the next ten years to improve its pure transmission and distribution systems across Sarawak.

This was among the highlights during Sarawak Energy’s media workshop on its business operations at Menara Sarawak Energy here on Tuesday.

 

CMS raises stakes in OM’s

Sarawak project Cahya Mata Sarawak Bhd (CMS) has increased its stakes in  its associate company OM Materials (Sarawak) Sdn Bhd (OM Sarawak) by acquiring additional five per cent equity interest in the company.

CMS in a  statement on Thursday said its wholly-owned subsidiary, Samalaju Industries Sdn Bhd (SISB), has entered into a share sale agreement with OM Materials (S) Pte Ltd (OMS), a wholly-owned subsidiary of OM Holdings Ltd (OMH) for the purchase of an additional five per cent equity interest in the ferrosilicon and manganese alloys smelting project in Samalaju Industrial Park.

 

National

1MDB: Bank Negara to uphold areas under its purview
Bank Negara Malaysia will uphold areas under its purview and legislation that it operates in with regards to the audit and investigation being carried out on 1Malaysia Development Bhd (1MDB). “As the central bank, we will uphold whatever that is under our purview under the legislation that we operate, and this is important. We are accountable for it,” BNM Governor Tan Sri Dr Zeti Akhtar Aziz said on Monday.

Investment ties between Japan, Malaysia remain strong
Trade and investment ties between Japan and Malaysia remain strong as Japan retains its top spot in the list of Malaysia’s foreign investment projects approved by country in 2014 at US$3.1 billion. According to Japan External Trade Organisation (Jetro) director Rasol Abu Bakar, Japan was the second highest rank in Malaysia’s inward foreign direct investment (FDI) by country in 2013.

Malaysia’s unemployment rate rises to 3.1 pct in January
Malaysia’s unemployment rate in January 2015 rose marginally to 3.1 per cent from three per cent the previous month, the Statistics Department said. In a statement on the ‘Labour Force Statistics Malaysia’, it said the year-on-year comparison, however, showed a lower unemployment rate at 3.3 cent in January 2014.

Bioalpha marks opening of ipo with prospectus launch
Bioalpha Holdings Bhd, an integrated health supplements company principally involved in manufacture and sales of semi-finished and finished health supplement products, has launched its prospectus in conjunction with the company’s listing on the ACE Market of Bursa Malaysia Securities Bhd.
Bioalpha’s initial public offering (IPO) involves an offering of 100 million new ordinary shares of RM0.05 each, at an issue price of RM0.20 per share payable in full upon application, comprising 20 million shares available for application by the public and 80 million shares by way of placement to selected investors.