<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 6): Penang Port Sdn Bhd (PPSB), an indirect wholly-owned subsidiary of MMC Corp Bhd, has today acquired a 60% stake in Swettenham Pier Cruise Terminal Sdn Bhd (SPCTSB) for RM6 cash.</p></div>

<div class=newsTextDataWrapInner><p>The remaining 40% of equity interest in SPCTSB is held by RCL Development Holdings (Penang) Sdn Bhd, an indirect wholly-owned unit of Royal Caribbean Cruises Ltd.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, MMC said SPCTSB was incorporated on July 17 to develop and operate the Swettenham Pier Cruise Terminal in Penang.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The acquisition is not expected to have any material effect on the group's earnings, net assets and gearing for the financial year ending Dec 31, 2018," said MMC.</p></div>

<div class=newsTextDataWrapInner><p><em>Bernama </em>reported today that Penang Port and RCL have signed a joint venture agreement to redevelop the Swettenham Pier Cruise Terminal to accommodate larger ships.</p></div>

<div class=newsTextDataWrapInner><p>The redevelopment will see the Swettenham Pier Cruise Terminal's existing 400m berth extended by 220m and the addition of a 118m long dolphin, the report said.</p></div>

<div class=newsTextDataWrapInner><p>Various news reports had stated that the pier would be upgraded by the parties at a cost of RM155 million.</p></div>

<div class=newsTextDataWrapInner><p>MMC shares closed unchanged at RM1.36 today, for a market capitalisation of RM4.1 billion.</p></div>


KUALA LUMPUR (Sept 6): Penang Port Sdn Bhd (PPSB), an indirect wholly-owned subsidiary of MMC Corp Bhd, has today acquired a 60% stake in Swettenham Pier Cruise Terminal Sdn Bhd (SPCTSB) for RM6 cash.

The remaining 40% of equity interest in SPCTSB is held by RCL Development Holdings (Pe...

MMC, Royal Carribean Cruises to jointly manage Penang’s cruise terminal

KUALA LUMPUR (April 19): Prime Minister Datuk Seri Anwar Ibrahim has denied Opposition claims that its Members of Parliament (MPs) will only be given allocations if they pledged support for his leadership.

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KUALA LUMPUR (April 19): Uzma Bhd plans to raise RM68.35 million via a private placement of 15% of its current share base to help fund the development of a water injection facility (WIF) which it is to lease to a unit of Hibiscus Petroleum Bhd.

Uzma plans RM68.4m private placement to fund O&G support job

BEIJING/SINGAPORE/NEW YORK (April 19): Oil slipped on Friday after prices spiked earlier on reports that Israel had attacked Iran, as market fears of a major escalation to hostilities in the Mideast appeared to ease.

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Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

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Westports Holdings Bhd said its new sukuk wakalah programme of up to RM5 billion will provide the group with the flexibility to raise medium to long-term funding to meet business funding requirements and general corporate purposes.

In a bourse filing on Friday, the country’s biggest port operator said its wholly-owned subsidiary Westports Malaysia Sdn Bhd (WMSB) had lodged the documents in relation to the programme with the Securities Commission Malaysia on March 7.

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KUALA LUMPUR (April 19): Gas Malaysia Bhd, which operates natural gas pipelines and sells liquefied petroleum gas, said on Friday that it has lowered the daily base average tariff by 4.5 sen per gigajoule until Dec 31, 2024.

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Switzerland-based electrical measurement technology specialist Life Energy Motion (LEM) unveiled its new RM78 million state-of-the-art manufacturing facility in Penang on Friday.

Situated at Penang Science Park, the plant is aligned with LEM's growth strategy, which is driven by the increasing global demand for its core products, including current and voltage sensors. This demand stems from the imperative of decarbonization across sectors such as automation, automotive, traction and renewable energy.

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Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

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A group of investors led by a Dubai-based real estate developer is in talks to build a mixed-use tower in Thailand that may vie for the mantle of the world’s tallest building.

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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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<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


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Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

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<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


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<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


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<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


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<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


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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>MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;</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>The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.</p>


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<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</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>Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.</p>


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<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</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>
