<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 14, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: TH Heavy Engineering Bhd (THHE) has bagged a US$11.4 million (RM47.4 million) subcontract from Afcons Infrastructure Ltd of India for an offshore process platform project for the development of KG-DWN-98/2 NEP Block offshore India.</p></div>

<div class=newsTextDataWrapInner><p>Under the subcontract, THHE is to undertake the fabrication of piles for offshore jackets in relation to the project.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, THHE said work on the subcontract is scheduled to commence in August, with completion on Dec 31, 2020.</p></div>

<div class=newsTextDataWrapInner><p>“The subcontract is expected to contribute positively to the group’s earnings and net assets per share for the financial years ending Dec 31, 2019 to 2020,” it added.</p></div>

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KUALA LUMPUR: TH Heavy Engineering Bhd (THHE) has bagged a US$11.4 million (RM47.4 million) subcontract from Afcons Infrastructure Ltd of India for an offshore process platform project for the development of KG-DWN-98/2 NEP Block offshore India.

Under the subcontract, THHE is to underta...

TH Heavy bags RM47m job in India

Wall Street's main indexes advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and signaled a dovish tilt, with focus moving to a crucial job report later in the week.

While Fed Chair Jerome Powell indicated that stubbornly high inflation would see a long-expected US rate cut pushed back, he refused to entertain talk that rates might actually need to go up again.

Wall Street gains on Fed's dovish signals

The presence of and commitment shown by the Unity Government party machinery campaigning in the Kuala Kubu Baharu (KKB) state by-election to ensure victory for its candidate is clear proof of the government's integrity.

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Technical and Vocational Education and Training (TVET) programmes are set to be enhanced to address the shortage of 30,000 engineers in the country, said Prime Minister Datuk Seri Anwar Ibrahim.

He also emphasised the importance of focusing on Artificial Intelligence (AI) technology to keep pace with current demands.

TVET in Malaysia to be enhanced to address shortage of 30,000 engineers — PM

KUALA LUMPUR (May 2): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Yinson Holdings Bhd has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the financing of its Ago...

Yinson, Protasco, LCTitan, Westports, UOA REIT, Frontken, Pasukhas, BHIC, JAKS, Epicon, Sarawak Cable, Annum, Aldrich, Ajinomoto, Ageson and SMI

Ageson Bhd said Virdos Lima Consultancy (M) Sdn Bhd (VL Consultancy) is in the final stage of completing its independent assessment report on the matters raised by its external auditor in its financial statements for the 18-month financial period ended Dec 31, 2022 (FPE2022).

Ageson says independent review of audit issues raised by its auditor now in final stages

The Penang government plans to hold a workshop with stakeholders to finalise the Penang Mutiara Line Light Rail Transit (LRT) Project following minor amendments to the original plan.

Chief Minister Chow Kon Yeow said the workshop is expected to be held within a week or two so that further work involving the transformative infrastructure project can be carried out.

Penang to hold workshop with stakeholders to finalise Mutiara Line LRT alignment

Prime Minister Datuk Seri Anwar Ibrahim said he has encouraged Japan and Qatar to explore investment opportunities in Kelantan.

As the country's leader, he said that he will always strive to help develop all states in Malaysia.

PM encourages Japan, Qatar to explore investment in Kelantan

The options market is betting that stocks will swing widely after Friday’s US jobs report, which traders expect will offer more clarity on how much the Federal Reserve may cut interest rates this year.

The S&P 500 Index is expected to move 1.2% in either direction after the release, based on the cost of at-the-money puts and calls expiring Friday, according to Stuart Kaiser, Citigroup Inc’s head of US equity trading strategy. That figure, based on the prices of S&P straddles as of Wednesday’s close, is the largest implied swing ahead of an employment report since March 2023, he said.

Options traders brace for biggest S&P jobs-day swing in a year

Bill Gross, who pioneered the “total return” strategy in the 1980s that revolutionized the bond market, says the approach is now defunct.

Bill Gross says ‘total return’ strategy he pioneered is ‘dead’

The High Court on Thursday upheld the conviction and 12-year prison sentence against Rumah Bonda founder Siti Bainun Ahd Razali for neglecting and abusing Bella, a teenage girl with Down’s syndrome.

Bella case: High Court upholds Siti Bainun's conviction and sentence  

<p>Mechanical and electrical engineering services provider Pasukhas Group Bhd has secured a RM56.98 million contract to build a data centre in Selangor.</p>


Pasukhas secures RM57m contract from US company to build data centre in Selangor 

<p>DBS Group Holdings Ltd was hit by renewed disruptions to its Internet banking and payment services in Singapore on Thursday, days after a six-month ban by the island’s central bank over similar glitches ended.</p>


Singapore DBS’ digital services hit days after MAS ban ends

<p>Construction outfit and bus operator Epicon Bhd will exit Practice Note 17 (PN17) status on Friday following the completion of its regularisation plan.</p>


Epicon, formerly Konsortium Transnasional, exits PN17 status

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>Lotte Chemical Titan Holdings Bhd (LCTitan) logged a net loss of RM178.03 million in the first quarter ended March 31, 2024 (1QFY2024), making the group's eighth straight loss-making quarter.</p>


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<p>Ajinomoto (M) Bhd’s RM2.12 special dividend announced in July last year in conjunction with a land disposal exercise will go ex on May 15.</p>


Ajinomoto’s special dividend of RM2.12 goes ex on May 15

<p>JAKS Resources Bhd's unit has signed a memorandum of understanding (MOU) with China-based CALB Group Co Ltd to explore opportunities in the battery energy storage system (BESS) market, with a particular focus on the Southeast Asia region.</p>


JAKS partners CALB to tap into SE Asia's battery energy storage systems market

<p>Sarawak Cable Bhd (SCB) has once again obtained a time extension to submit its Practice Note 17 (PN17) regularisation plan from Bursa Malaysia.</p>

<p>The deadline has now been extended by another six months to Sept 30 from March 31, its bourse filing on Thursday showed. The original deadline was Nov 1, 2023.</p>


Sarawak Cable gets another time extension to submit PN17 exit plan

<p>India's palm oil imports jumped by 41% in April from the previous month to reach the highest level in three months, as easing prices prompted refiners to increase purchases, five dealers told <em>Reuters</em>.</p>


India's April palm oil imports jump 41% to three-month high, say dealers

<p>UOA REIT, a trust which mainly manages commercial properties, said its net rental income fell 12.7% in its quarter ended March 31, 2024 (1QFY2024) due to lower occupancy rates and higher property operating expenses.</p>


UOA REIT’s net rental income drops 13% in 1Q as its properties record lower occupancy rates

<p>Loss-making Annum Bhd said on Thursday it has received a show-cause notice from Bursa Malaysia over the company's failure to issue its annual report for the financial period ended June 30, 2023 (FY2023), which was due on Oct 31, 2023.</p>


Annum still fails to issue annual report after landing auditor following 31 rejections; hit by Bursa show-cause notice

<p>Former attorney general Tan Sri Mohamed Apandi Ali's special officer could have won her defamation suit against Sarawak Report editor Clare Rewcastle-Brown, if not for a technicality — that all court pleadings must be filed in Bahasa Melayu, according to the High Court judicial commissioner who presided over the case.</p>


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<p>Cocoa prices dropped again, extending a week of extreme volatility as liquidity dries up and commercial buyers hold back from buying beans.&nbsp;</p>


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<p>A former Hong Kong-based Societe Generale SA (SocGen) trader claimed he was fired and said the French lender should share the blame for failing to detect his wagers.</p>


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<p>KUALA LUMPUR (May 2): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>

<p><strong>Yinson Holdings Bhd</strong> has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the financing of its Ago...

<p>Hong Kong's securities regulator started an insider dealing prosecution against hedge fund Segantii Capital Management, its founder and a former trader, the watchdog said on Thursday.</p>

<p>The Hong Kong Securities and Futures Commission (SFC) said it had started criminal proceedings against Segantii, its founder and chief investment officer Simon Sadler, and former trader Daniel La Rocca for insider dealing in the shares of a Hong Kong-listed company prior to a block trade in June 2017.</p>


Insider dealing charges brought against Segantii and its founder in Hong Kong

<p>Datuk Seri Anwar Ibrahim on Thursday reprimanded the Immigration Department over congestion issues at the country’s borders, particularly in airports.</p>

<p>Describing the rebuke as akin to "parental love" to improve congestion issues at counters handling entry of tourists, the prime minister said tourists would not accept excuses for delays, and hoped the issue could be dealt with effectively.</p>


PM rebukes Immigration Dept over tourist entry congestion

<p>Boustead Heavy Industries Corp Bhd (BHIC), which is 64.99%-indirectly owned by the Armed Forces Fund Board (LTAT), has secured a contract worth RM43.6 million from the Ministry of Defence for the in-service support for its Royal Malaysian Navy Prime Minister Class submarines.</p>


BHIC secures RM43 mil contract for navy submarine in-service support

<p>Chinese President Xi Jinping heads to Europe for the first time in five years next week in a visit that may lay bare European divisions over trade with Beijing and how the continent positions itself as a pole between the United States and China.</p>


Xi's trip to Europe may lay bare West's divisions over China strategy

<p>Aldrich Resources Bhd said it is reconsidering an earlier plan to diversify into dolomite and gold mining, and has suspended these operations for the time being.</p>
