<div class=newsTextDataWrapInner><p>LONDON (Nov 18): A consortium led by Spain's Compania Espanola de Petroleos (CEPSA) said on Monday it was withdrawing from the bidding to acquire oil firm Salamander Energy, reducing the competition for rival suitor Ophir .</p></div>

<div class=newsTextDataWrapInner><p>CEPSA said that after holding talks with Salamander, the consortium, which includes Strategic Energy (Global), had decided not to proceed.</p></div>

<div class=newsTextDataWrapInner><p>"CEPSA and SEG have now decided that they have no intention of making an offer for the company," CEPSA said in its statement.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Earlier reports quoted Salamander as saying the consortium, which also included a subsidiary of Hong Kong private equity firm Jynwel Capital, was proposing to pay 121 pence in cash for each Salamander share and one contingent value right of up to 24 pence per share.&nbsp; Jynwel Capital is Jho Low's&nbsp; family investment arm.</p></div>

<div class=newsTextDataWrapInner><p>Salamander, which drills for oil in Indonesia and Thailand, received a conditional proposal from Ophir Energy in October.</p></div>

<div class=newsTextDataWrapInner><p>Under UK takeover rules, bidders have until Nov. 24 to make clear their intent either to make a firm offer for the company or to walk away.</p></div>

<div class=newsTextDataWrapInner><p>The CEPSA-led consortium had made its proposed offer on the condition that Salamander cancelled a deal it struck with Malaysia's SONA Petroleum Berhad in July, selling a 40 percent interest in two Thai oil fields.</p></div>

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LONDON (Nov 18): A consortium led by Spain's Compania Espanola de Petroleos (CEPSA) said on Monday it was withdrawing from the bidding to acquire oil firm Salamander Energy, reducing the competition for rival suitor Ophir .

CEPSA said that after holding talks with Salamander, the consor...

CEPSA no longer interested in buying Salamander 

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Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.

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Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

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Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

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<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


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<p>The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.</p>


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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


<p>Attention this week will be on the March inflation rate, with the <strong>Department of Statistics Malaysia</strong> (DOSM) slated to put out <strong>Consumer Price Index</strong> (CPI) — the key gauge for inflation — data on Thursday.</p>

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<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


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<p>Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.</p>


<p>The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.</p>


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<p>Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.</p>


<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


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<p>Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>


<p>Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...