FBMKLCI 1560.40 DJ-41.59 CRUDE OIL100.73 RM 2.9955
Malakoff Corp Bhd, owned by MMC Corp Bhd, is expected to be awarded a contract to build a 1,000MW coal-fired power plant soon, said sources. According to sources, the plant will have a 15-year concession to sell the power at a rate of 25 sen per kwh to Tenaga Nasional Bhd (TNB).
Petroliam Nasional Bhd (Petronas), via its wholly-owned subsidiary Petronas International Corp Ltd (PICL), has signed an agreement with Canada-based Progress Energy Resources Corp to acquire 50% of the latter's interest in shale gas assets worth C$1.07bil (RM3.32bil). In a statement yesterday, Petronas said the agreement was signed to develop the Altares, Lily and Kahta shale gas assets in north-eastern British Columbia. “The assets included in the transaction cover approximately 150,000 gross working-interest acres of land with an estimated contingent gas resource of more than 15 trillion cu ft. The assets will be operated by Progress,” said Petronas.
MTD Construction Sdn Bhd (MTDC) has won its RM38.59mil suit against AXA Affin Assurance Bhd involving a claim on a contractors’ All Risks Policy against the latter. In a note to Bursa Malaysia yesterday, MTD ACPI Engineering Bhd said the case was ruled in favour of MTDC on May 27, with the judge holding AXA Affin liable for the damages to be assessed before the Court Registrar.
The hike in electricity tariff and gas prices will impact the steel, cement and glove manufacturing sectors, according to research firms. HwangDBS Vickers Research said the full-year earnings projections of steel makers Southern Steel Bhd, Kinsteel Bhd and might be lower by between 17% and 25% while forecast earnings for glove manufacturers Top Glove Corp Bhd and Kossan Rubber Industries Bhd could drop by between 5% and 7%. CIMB Research said electricity accounted for 8% of total costs for steel maker Ann Joo Resources Bhd as well as 18% of those for cement producers Lafarge Malayan Cement Bhd and Tasek Corp Bhd.
Petra Energy Bhd’s wholly-owned subsidiary, Petra Resources Sdn Bhd (PRSB) has signed a memorandum of understanding (MoU) with Labuan Shipyard & Engineering Sdn Bhd (LSE) for the proposed utilisation of the latter’s shipyard facilities at Victoria Harbour, Labuan Island. Petra Energy told Bursa Malaysia yesterday that the MoU was for the purpose of PRSB’s fabrication activities.
Mobile virtual network operator XOX Bhd’s initial public offering (IPO) has been oversubscribed by 13.2 times. Its IPO atracted 6,652 applications for 106.5 million shares with a total value of RM85.2mil, for the public tranche of 7.5 million shares, the company, which slated for ACE market listing on June 10, said in a statement yesterday.
Genting Bhd could also be in focus given its overseas expansion plans in Miami, with expectations that the group would try to secure a gaming licence there.
Malakoff Corp Bhd, owned by MMC Corp Bhd, is expected to be awarded a contract to build a 1,000MW coal-fired power plant soon, said sources. According to sources, the plant will have a 15-year concession to sell the power at a rate of 25 sen per kwh to Tenaga Nasional Bhd (TNB).
Petroliam Nasional Bhd (Petronas), via its wholly-owned subsidiary Petronas International Corp Ltd (PICL), has signed an agreement with Canada-based Progress Energy Resources Corp to acquire 50% of the latter's interest in shale gas assets worth C$1.07bil (RM3.32bil). In a statement yesterday, Petronas said the agreement was signed to develop the Altares, Lily and Kahta shale gas assets in north-eastern British Columbia. “The assets included in the transaction cover approximately 150,000 gross working-interest acres of land with an estimated contingent gas resource of more than 15 trillion cu ft. The assets will be operated by Progress,” said Petronas.
MTD Construction Sdn Bhd (MTDC) has won its RM38.59mil suit against AXA Affin Assurance Bhd involving a claim on a contractors’ All Risks Policy against the latter. In a note to Bursa Malaysia yesterday, MTD ACPI Engineering Bhd said the case was ruled in favour of MTDC on May 27, with the judge holding AXA Affin liable for the damages to be assessed before the Court Registrar.
The hike in electricity tariff and gas prices will impact the steel, cement and glove manufacturing sectors, according to research firms. HwangDBS Vickers Research said the full-year earnings projections of steel makers Southern Steel Bhd, Kinsteel Bhd and might be lower by between 17% and 25% while forecast earnings for glove manufacturers Top Glove Corp Bhd and Kossan Rubber Industries Bhd could drop by between 5% and 7%. CIMB Research said electricity accounted for 8% of total costs for steel maker Ann Joo Resources Bhd as well as 18% of those for cement producers Lafarge Malayan Cement Bhd and Tasek Corp Bhd.
Petra Energy Bhd’s wholly-owned subsidiary, Petra Resources Sdn Bhd (PRSB) has signed a memorandum of understanding (MoU) with Labuan Shipyard & Engineering Sdn Bhd (LSE) for the proposed utilisation of the latter’s shipyard facilities at Victoria Harbour, Labuan Island. Petra Energy told Bursa Malaysia yesterday that the MoU was for the purpose of PRSB’s fabrication activities.
Mobile virtual network operator XOX Bhd’s initial public offering (IPO) has been oversubscribed by 13.2 times. Its IPO atracted 6,652 applications for 106.5 million shares with a total value of RM85.2mil, for the public tranche of 7.5 million shares, the company, which slated for ACE market listing on June 10, said in a statement yesterday.
Genting Bhd could also be in focus given its overseas expansion plans in Miami, with expectations that the group would try to secure a gaming licence there.
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