Petronas denies talk of assets, stake sale to Russian company25 May 2016 @ 11:47 AM
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has denied news reports that it is in talks with a Russian party for the disposal of its stake or assets.
"We wish to clarify that Petronas has not been and is currently not in discussions with any Russian party for the abovementioned purpose," Petronas said in a statement today.
The company was referring to a number of press reports originating from Russia on purported discussions for the corporate exercise.
Proton's search for foreign partner to be finalised by June, not today: DRB Hicom15 February 2017 @ 7:52 PM
KUALA LUMPUR: DRB-Hicom Bhd today said its search for a foreign strategic partner (FSP) for Proton Holdings Bhd will be finalised by June, and not today as widely speculated.
In a statement today, the company said it is focusing on going through the critical process of identifying the ideal FSP for Proton.
“DRB-Hicom hopes that the public will not be misled by various reports that we have already selected a FSP for our wholly-owned carmaker, Proton.
Seoul plans to submit request for proposal7 February 2017 @ 12:49 PM
KUALA LUMPUR: South Korea, one of the many countries eyeing the Kuala Lumpur-Singapore highspeed rail (HSR) project, is making preparations to submit the request for proposal to the local authorities.
In a statement recently, the country announced the setting up of the Korean Consortium called KL-SG HSR Project’s AssetsCo jointly held with its Ministry of Land, Infrastructure and Transport.
Consortium members include Korea Rail Network Authority (KRNA), Korail, Korea Railroad Research Institute, Hyundai Rotem, Korea Telecom, and Hyundai Heavy Industries.
M'sians to spend 9 per cent more this CNY compared to 2016: UOB Bank27 January 2017 @ 7:59 PM
KUALA LUMPUR: Malaysians are planning to spend nine per cent more this year on Lunar New Year festivities, according to United Overseas Bank (Malaysia) Bhd (UOB Malaysia).
Based on its annual Lunar New Year survey, respondents said of their average festive budget of RM4,201 (up from RM3,846 in 2016), they will allocate RM1,008 for food.
UOB Malaysia said this is an increase of 14 per cent over last year, despite the higher cost of food in 2017.
BNM stronger, more stable, following 1990s forex losses27 January 2017 @ 12:24 PM
KUALA LUMPUR: Bank Negara Malaysia (BNM) says it has moved forward, becoming stronger, more transparent and accountable, after bouncing back from suffering major foreign exchange (forex) losses more than two decades ago.
BNM was responding to a New Straits Times (NST) front page report today on massive foreign exchange losses which occurred in the early 1990s.
“Under the current challenging and uncertain global environment, it is important that we focus on ensuring our financial system and the economy remain resilient and stable,” it added.
SME Bank first DFI in M'sia, Asean to join The Montreal Group26 January 2017 @ 2:26 PM
KUALA LUMPUR: SME Bank has made history as the first Development Financial Institution (DFI) in Malaysia and Asean to be a member of The Montreal Group (TMG).
TMG is an exclusive global forum for state-owned development banks focused on assisting micro, small and medium-sized enterprises.
Founded in 2012 by seven members with a total estimated combined assets of US$2 trillion, TMG was established to encourage exchange of ideas, best practices and foster greater understanding of the international market for the growth of SMEs.
Nakamichi Corp Bhd to invest US$146 million in Kazakhstan O&G project21 January 2017 @ 12:22 AM
KUALA LUMPUR: Nakamichi Corp Bhd is set to invest US$146 million in an oil and gas project in Kazakhstan.
Nakamichi, a Practice Note 17 company, said on Friday it would team up with Aktau Transit LLP and Aktau’s parent company Caspian Oil Project LLP (COP) to undertake the venture.
It signed an agreement with Aktau Transit and COP on Friday to jointly monitor and oversee the exploration, development and production activities of Aktau Transit’s two oilfields as part of its plan to regularise its financial position.
Toyo Ink signs MoA with Hau Giang DONRE, confirm Vietnam power plant project18 January 2017 @ 1:45 AM
KUALA LUMPUR: Toyo Ink Group Bhd yesterday inked a memorandum of agreement (MoA) with the Department of Natural Resources and Environment of Hau Giang Province (Hau Giang DONRE) in Vietnam.
With the signing of MoA, both parties have confirmed their agreement to the terms and conditions of the land lease agreement (LLA) on the lease of a project site for the development of Song Hau 2-2x1000MW coal-fired thermal power plant project in Hau Giang Province, Vietnam.
Bank Islam denies MD's suspension, says Facebook posting unfounded12 January 2017 @ 3:13 PM
KUALA LUMPUR: Bank Islam Malaysia Bhd denies that its managing director Datuk Seri Zukri Samat has been suspended.
Refuting a Facebook posting by one Raja Mohd Shahrim on Wednesday, the bank described it as “irresponsible and unfounded allegation”.
“I would like to state that there is absolutely no truth in the posting. We regret that during the last few months of Datuk Seri Zukri Samat’s tenure at the bank, that this irresponsible and unfounded allegation has surfaced,” Bank Islam chairman Datuk Zamani Abdul Ghani said in a statement today.
Suasa Airlines fined after pleading guilty to operating without license9 January 2017 @ 9:44 PM
KUALA LUMPUR: Suasa Airlines Sdn Bhd, the operator of Suasa Airlines, pleaded guilty to operating without a valid Air Service Permit (ASP) at the Sepang sessions court yesterday and was fined RM380,000.
The operator was charged under section 36 of the Malaysian Aviation Commission Act 2015 (Act 771) for carrying passengers on a non-scheduled journey between Kuala Lumpur and Langkawi without a valid ASP.