<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on December 3, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Perisai Petroleum Teknologi Bhd has bagged a contract extension worth US$7.6 million (RM31.77 million) from Petronas Carigali Sdn Bhd for the provision of a jack-up drilling rig for the latter’s Samarang drilling campaign.</p></div>

<div class=newsTextDataWrapInner><p>The contract was awarded to the group’s unit Perisai Offshore Sdn Bhd, Perisai Petroleum said in a filing yesterday, adding that it is expected to last for two wells.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The contract will have no effect on the issued and paid-up capital of the company and is expected to contribute positively towards the earnings and net assets of the company for the duration of the contract,” it said.</p></div>

<div class=newsTextDataWrapInner><p>Perisai Petroleum’s shares have been suspended since Jan 22 after Bursa Malaysia rejected the PN17-listed group’s proposed regularisation plan.</p></div>

<div class=newsTextDataWrapInner><p>Bursa has given the company till Dec 31 to submit a new regularisation plan to the relevant authorities for approval, failure which could lead to the removal of the stock from the stock exchange.</p></div>


KUALA LUMPUR: Perisai Petroleum Teknologi Bhd has bagged a contract extension worth US$7.6 million (RM31.77 million) from Petronas Carigali Sdn Bhd for the provision of a jack-up drilling rig for the latter’s Samarang drilling campaign.

The contract was awarded to the group’s unit Peris...

Perisai Petroleum gets RM31.8m rig drilling job extension

KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.

Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.

Sime Darby Plantation plans to change name to SD Guthrie

Microsoft will invest US$1.7 billion (RM8.1 billion) in Indonesia to empower the Southeast Asian country with cloud services and artificial intelligence, including by building data centres, visiting chief executive Satya Nadella said on Tuesday.

Microsoft to invest US$1.7b in cloud, AI in Indonesia, CEO says

Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.

Ekuinas acquires 80% stake in pharma ingredients maker Symbiotica

KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM582,887, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.

Average KL price of new apartment hits RM582,887, surpasses national average — Juwai IQI

China's manufacturing and services activity both expanded at a slower pace in April, official surveys showed on Tuesday, suggesting some loss of momentum for the world's second-biggest economy at the start of the second quarter.

China's slow April factory, services activity dents economic momentum

Relatively lower inflation in Asia means the region's central banks can focus more on domestic conditions and less on what the US Federal Reserve might do when setting monetary policy, the International Monetary Fund said on Tuesday.

Asian central banks in good position to move independently of Fed, says IMF

HSBC chief executive Noel Quinn will retire, it said on Tuesday, in a surprise departure from the bank that he has overhauled in the past five years through a sweeping series of asset sales across the globe.

HSBC announces CEO Quinn's retirement, 1Q profit drops 1.8%

Six spot bitcoin and ether exchange traded funds (ETFs) gained in their Hong Kong debut on Tuesday, with the three bitcoin ETFs climbing more than 3% in early trade, reflecting Asian investor enthusiasm for cryptocurrencies.

Asia's first spot bitcoin and ether ETFs gain in Hong Kong debut

KUALA LUMPUR (April 30): Prime Minister Datuk Seri Anwar Ibrahim expressed on Tuesday, Malaysia’s preparedness to explore new areas of cooperation with Saudi Arabia, in line with the kingdom’s Vision 2030, especially in the fields of renewable energy and hydrogen.

Malaysia seeking cooperation with Saudi on renewable energy, hydrogen — Anwar

<p>KUALA LUMPUR (April 30): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday (April 29):</p>

<p>QSR Brands and KFC Malaysia confirmed it suspended operations of its outlets to manage costs, amid news that over 100 of its outlets have ceased...

QSR Brands, Nestle, ViTrox, LPI Capital, Ajiya, YTL REIT, Tex Cycle, Gadang, HHRG, Sapura, MSC, Capital A, BSL, Oppstar

<p>YNH Property Bhd on Monday made a belated announcement about transactions involving its 6.49-acre land in Segambut, which it had inked an agreement in September last year to sell for RM59.58 million but revoked last week to have Chin Hin&nbsp;Group Property Bhd develop the plot in return for at least RM52 million.</p>


YNH makes belated announcement about transactions involving its Segambut land

<p>The Genting group companies' operations have recovered from the impact of the Covid-19 pandemic, and its earnings are expected to further grow, albeit more gradually, according to S&amp;P Global Ratings.</p>


S&P: Genting's operations have recovered from impact of pandemic, earnings to further grow

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.</p>


MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

<p>Kossan Rubber Industries Bhd has clarified that the fire at a paint factory in Meru Industrial Park, Klang on Monday (April 29) had no impact on operations at its rubber glove factories.</p>


Fire outbreak at paint processing plant 'has nothing to do with Kossan Rubber Industries', says MD

<p>Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.</p>


Oppstar surges to five-month high after announcing Samsung tie-up

<p>RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.</p>


RHB sees glove makers recording positive q-o-q net profit growth in March earnings

<p>China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.</p>


China’s US Treasury holdings becoming ‘hostages,’ academic warns

<p>It’s “better to ask for forgiveness than permission” when it comes to complying with the law, the billionaire founder of the Binance cryptocurrency exchange once told his team, according to the US government.</p>


Binance and CZ’s fortunes are set to grow, jail or no jail 

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds two potential clones to Investor Alert List

<p>Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.</p>


HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

<p>Elon Musk’s net worth is soaring after it plunged to the lowest level in almost a year.</p>


Musk’s fortune soars by most since before Twitter purchase

<p>Amy Wang was counting on a 100,000 yuan (RM65,743) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Still waiting for the money, she is yet to move in.</p>


Strained Chinese cities struggle to pay home buying subsidies

<p>Samsung Electronics Co’s earnings surged after the semiconductor business returned to profitabilty for the first time since 2022, boosted by broad spending on artificial intelligence development.</p>


Samsung’s profit surges after AI boom reverses chip losses 

<p>KUALA LUMPUR (April 30): Shares of Nestlé (Malaysia) Bhd (Nestlé Malaysia) rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.</p>


Nestle Malaysia shares rise to eight-month high after 1Q results

<p>The Malaysian Bar filed a judicial review application last Friday to seek a declaration that the decision by the Federal Territories Pardons Board in Jan 29 to halve Datuk Seri Najib Razak's jail sentence to six years and reduce the fine in his SRC International graft conviction to RM50 million is unconstitutional, void and unlawful.</p>


Malaysian Bar challenges Pardons Board decision to reduce Najib’s sentence

<p>Relatively lower inflation in Asia means the region's central banks can focus more on domestic conditions and less on what the US Federal Reserve might do when setting monetary policy, the International Monetary Fund said on Tuesday.</p>


<p>As projections for all the copper needed in the clean-energy transition help send prices of the wiring metal to two-year highs, a new report highlights the risks to future metal supplies from climate change.</p>


Half of all copper mining at drought risk with climate change

<p>HSBC chief executive Noel Quinn will retire, it said on Tuesday, in a surprise departure from the bank that he has overhauled in the past five years through a sweeping series of asset sales across the globe.</p>


<p>US stocks ended higher on Monday, with sharp gains for Tesla and Apple leading the way, as investors looked toward what the Federal Reserve would say about the interest rate outlook after its policy meeting this week.</p>
