<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 6): Sime Darby Bhd said disputes relating to an oil and gas platform project in India, in which its wholly-owned subsidiary is involved, will be referred to arbitration.</p></div>

<div class=newsTextDataWrapInner><p>In a filing to Bursa Malaysia, the group said its subsidiary Sime Darby Engineering Sdn Bhd (SDE) and Swiber Offshore Construction Ptd Ltd have issued a notice of invocation of arbitration to India's state-owned Oil &amp; Natural Gas Corporation Ltd (ONGC).</p></div>

<div class=newsTextDataWrapInner><p>The SDE-Swiber consortium was awarded a US$618.4 million (about RM2.54 billion) contract for the wellhead platform project in western India by ONGC in 2010.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"Disputes and differences relating to the process platform project have since arisen between the consortium and ONGC. Pursuant to the contract, the disputes between the parties shall be referred to and determined by arbitration in India," said Sime Darby.</p></div>

<div class=newsTextDataWrapInner><p>Sime Darby said the arbitration proceeding is not expected to have a material impact on its earnings and net assets for the financial year ending June 30, 2016.</p></div>

<div class=newsTextDataWrapInner><p>Sime Darby shares rose seven sen or 0.93% to RM7.59 today, with 3.19 million shares traded.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (June 6): Sime Darby Bhd said disputes relating to an oil and gas platform project in India, in which its wholly-owned subsidiary is involved, will be referred to arbitration.

In a filing to Bursa Malaysia, the group said its subsidiary Sime Darby Engineering Sdn Bhd (SDE) ...

Sime Darby, partner refer India platform project dispute to arbitration

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

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EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

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CGS International has cut its earnings estimate for Inari Amertron Bhd as recent data flagged weakened smartphone demand, according to its research note on Thursday.

CGS International cuts Inari Amertron earnings forecast on weak smartphone demand

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

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In today’s edition of Evening 5: 00:00 EPF unveils the details of flexible Account 3 02:07 AAX to buy Capital A’s airline business for RM6.8 bil 03:47 DNB adds five new members to its board 04:58 PM denies claims about a Forest City casino 05:51 Pantech mulls listing two subsidiaries

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Infoline Tec Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

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EVENING 5: Five things you need to know today

Members of the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose — subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.

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ViTrox Corp Bhd saw its net profit nearly halved for the financial quarter ended March 31, 2024 (1QFY2024), primarily due to unfavourable product mix and higher research and development (R&D) expenditures to support the introduction of new products.

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<p>Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.</p>


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<p>IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.</p>

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<p>JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.</p>


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<p>The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.</p>


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<p>KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.</p>


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<p>The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.</p>

<p>His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.</p>


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<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.</p>


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<p>Luxchem Corp Bhd’s net profit for the first quarter ended March 31, 2024 (1QFY2024) surged over 54% to RM11.56 million or 1.08 sen per share from RM7.5 million or 0.7 sen per share a year earlier on the back of stronger earnings from both its trading and manufacturing segments.</p>

<p>The industrial chemical and material group’s revenue rose 19.8% to RM183.15 million versus RM152.83 million a year ago as driven by its trading and manufacturing segments, according to a bourse filing on Thursday. &nbsp;</p>


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<p>Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.</p>


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<p>Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.</p>


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<p>JRG Minerals Sdn Bhd is collaborating with Shandong Huaxin Industry Co Ltd for a development project in Kuantan, Pahang, with an estimated value of RM15 billion.</p>


JRG Minerals teams up with Shandong Huaxin for RM15b development project in Pahang

<p>Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.</p>


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<p>KUALA LUMPUR (April 25): Malaysia requires an annual allocation of at least RM10 billion for the next three years, which is crucial to boost water infrastructure amid below-cost tariffs and high wastage, the National Water Services Commission (SPAN) said on Thursday.</p>


Malaysia needs RM10 bil for next three years to upgrade water infrastructure — SPAN

<p>The Council of Palm Oil Producing Countries (CPOPC) has called on the European Union to delay the implementation of deforestation rules by at least a year for small businesses, its secretary general said on Thursday.</p>


Palm oil producers urges EU to delay deforestation rules for small businesses

<p>Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless &amp; Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).</p>

<p>Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.</p>


Pantech mulls listing two subsidiaries on Main Market via SPV

<p>SEPANG (April 25): A&nbsp;manager of a tour agency company pleaded not guilty at&nbsp;the Sessions Court here on Thursday to charges of attempting to murder his wife and causing injury to the woman’s bodyguard.</p>


KLIA shooting: Company manager charged with attempted murder of wife

<p>Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.&nbsp;</p>


Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

<p>The government’s move to introduce a progressive wage policy is the right approach to boost labour productivity in Malaysia, according to a World Bank economist.</p>
