<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on July 11, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Icon Offshore Bhd’s Brunei subsidiary has received a two-year extension for the charter of its vessel, Icon Kayra, from charterer Zell Transportation (ZT).</p></div>

<div class=newsTextDataWrapInner><p>In a Bursa Malaysia filing yesterday, Icon Offshore said its subsidiary Icon Bahtera (B) Sdn Bhd (IBSB) received the extension on May 10 this year, but it only received approval from ZT to release the announcement now.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The extension is part of the original time charter party that IBSB and ZT inked on April 16, 2014, which was for a five-year period.</p></div>

<div class=newsTextDataWrapInner><p>“The extension award received from ZT on May 10, 2019 was varied for a period of two years firm, with a one-year extension option. This is a variation to the initial contract that was announced on Aug 20, 2014,” Icon Offshore said.</p></div>

<div class=newsTextDataWrapInner><p>The contract variation is valued at approximately RM36 million and is expected to contribute positively to its earnings for the financial year ending Dec 31, 2019, and beyond.</p></div>

<div class=newsTextDataWrapInner><p>Icon Offshore shares closed unchanged at nine sen yesterday, with a market capitalisation of RM105.95 million.</p></div>


KUALA LUMPUR: Icon Offshore Bhd’s Brunei subsidiary has received a two-year extension for the charter of its vessel, Icon Kayra, from charterer Zell Transportation (ZT).

In a Bursa Malaysia filing yesterday, Icon Offshore said its subsidiary Icon Bahtera (B) Sdn Bhd (IBSB) received the ...

Icon Offshore unit gets charter deal extension

JAKARTA (April 19): The eruption of Mount Ruang in North Sulawesi continued to disrupt airspace on Friday, impacting flight safety and security, according to Indonesia’s National Disaster Management Agency (BNPB).

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The gag order imposed by a Magistrate’s Court on Mentega Terbang director and scriptwriter Mohd Khairianwar Jailani stays, prohibiting him from making any statement or comment regarding his ongoing criminal case.

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Bursa Malaysia ended the week mixed on Friday with buying in selected heavyweights and commodity-related stocks amid the negative sentiment on regional markets, said an analyst.

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KUALA LUMPUR (April 19): Software company Nova MSC Bhd said on Friday that it has signed term sheets for investments totalling about RM41.4 million into two of its subsidiaries, by Singapore-based family office Jostar Investment VCC.

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Automotive electronic parts manufacturer MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50 million for the first phase of the development.

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Shares of IT services firm Infomina Bhd fell on Friday to its lowest in nearly one year as its latest results disappointed investors even as analysts largely remained bullish.

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Nissan Motor Co said full-year operating profit came in at ¥530 billion (RM16.43 billion) — 15% lower than it forecast as recently as February as sales fell short of expectations.

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<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


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<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


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<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


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<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


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<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


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<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


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<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


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<p>Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.</p>


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<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
