<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on December 12, 2018</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Alam Maritim Resources Bhd’s wholly-owned unit, Alam Maritim (M) Sdn Bhd, has been awarded a conditional contract to provide Pan-Malaysia underwater services for petroleum arrangement contractors.</p></div>

<div class=newsTextDataWrapInner><p>In a filing to Bursa Malaysia yesterday, Alam Maritim said this came on the heels of the unit securing a similar five-year pan-Malaysia underwater services job from Petronas Carigali Sdn Bhd and Enquest Petroleum Production Malaysia Ltd, on Nov 30.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It said the five-year contract was awarded by ExxonMobil Exploration and Production Malaysia Inc.</p></div>

<div class=newsTextDataWrapInner><p>“The contract is on a call-out basis, whereby work orders will be issued by clients based on a schedule of rates provided,” it said.</p></div>

<div class=newsTextDataWrapInner><p>As such, the total value of the deal will be contingent upon the actual work orders and the scope of work performed, it said.</p></div>

<div class=newsTextDataWrapInner><p>Regardless, the loss-making group said the contract is expected to contribute positively to its earnings and net tangible assets for the 2018-2023 period.</p></div>

<div class=newsTextDataWrapInner><p>The group, whose cumulative net loss stood at RM42.23 million as at its third quarter ended Sept 30, 2018, is valued at RM73.96 million based on its closing price of eight sen yesterday.</p></div>


KUALA LUMPUR: Alam Maritim Resources Bhd’s wholly-owned unit, Alam Maritim (M) Sdn Bhd, has been awarded a conditional contract to provide Pan-Malaysia underwater services for petroleum arrangement contractors.

In a filing to Bursa Malaysia yesterday, Alam Maritim said this came on the ...

Alam Maritim secures another Pan-Malaysia job

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Singapore's biggest bank DBS Group said on Wednesday that it has appointed Ping An Technology's chairman and CEO Eugene Huang as its chief information officer (CIO) effective Friday.

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Shares in Sime Darby Plantation Bhd [KL: SIMEPLT] rose to their highest in two years following its announcement to develop the Tali Ayer estate in Perak into a green industrial park.

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Industronics Bhd said it has been appointed as the project management company to develop a hotel and golf course on a 155-acre parcel of land in Langkawi.

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The emergence of digital banks in Malaysia does not significantly impact traditional banks, primarily due to their limited ability to achieve rapid growth within the initial years of operation.

S&P Global Ratings senior analyst, financial institution ratings, South and Southeast Asia (SSEA), Sue Ong said that the five digital banking licences issued by the Bank Negara Malaysia (BNM) in 2022 do not seem to be a game changer for now.

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KUALA LUMPUR (May 8): Insurer and reinsurer MNRB Holdings Bhd’s (KL:MNRB) net profit more than doubled year-on-year (y-o-y) in the fourth quarter, thanks to lower insurance expenses and higher investment income, sending its shares surging to an all-time high.

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Financial planners need to carry out their duty to report any suspicious activities, that might be linked to money laundering, to the authorities, Bukit Aman Anti-Money Laundering Criminal Investigation Division assistant director ACP Foo Wei Min.

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An increase in corporate demand, led by key infrastructure projects, may help push credit growth for Malaysian banks to 6% in 2024 from 5% in 2023, said S&P Global Ratings.

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The Biden administration is poised to open up a new front in its effort to safeguard US AI from China with preliminary plans to place guardrails around the most advanced AI Models, the core software of artificial intelligence systems like ChatGPT, sources said.

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<p>Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.</p>

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<p>China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, <em>Xinhua </em>reported, citing Chinese Foreign Ministry spokesperson Lin Jian.</p>


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<p>KUALA LUMPUR (May 8): Petronas Dagangan Bhd (KL:PETDAG) faces a threat from Saudi Aramco’s possible entry into Malaysia’s fuel retailing market, on top of the impending withdrawal of fuel subsidies, CGS International warned.</p>


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<p>The US has revoked licences that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies, three people familiar with the matter said.</p>


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<p>A Singapore Air Force F-16 jet crashed during takeoff at a military airbase, the Ministry of Defence said on Wednesday.</p>


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<p>Communications Minister Fahmi Fadzil said the government is prepared to engage with the US counterparts to understand the details regarding possible sanctions against Malaysian companies.</p>


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<p>KUALA LUMPUR (May 8): Shares of Bursa Malaysia Bhd (KL:BURSA) extended their gain on Wednesday, after MIDF said it foresees a good prospect for trading activities on Bursa Malaysia Securities Bhd&nbsp;this year, as Malaysian stocks hit a historical high of RM2 trillion in market capitalisation on Tuesday (May 7).</p>


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<p>Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.</p>


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<p>Offshore drilling firm Velesto Energy Bhd (KL:VELESTO) is expected to report that its net profit may more than tripled in the first quarter (1Q) from a year earlier with all of its rigs utilised, Maybank Investment Bank said.</p>


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<p>KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia.&nbsp;</p>


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<p>SYDNEY/HONG KONG/SINGAPORE (May 8): Global private equity investors and asset managers are readying for billions of dollars worth of mergers and acquisitions (M&amp;As) and investments linked to data centres in the Asia Pacific, as the artificial intelligence (AI) boom fuels demand for digital infrastructure.</p>


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<p>The FBM KLCI was little changed in early trade on Wednesday although it held firm above the 1,600-point level.</p>
