<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Mar 14): Perisai Petroleum Teknologi Bhd has acquired an anchor handling tug vessel for US$7 million (RM23 million) from Lewek Robin Shipping Pte Ltd.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with the stock exchange, Perisai said its indirect 51% controlled subsidiary Intan Offshore (L) Ltd had today entered into a memorandum of agreement with Lewek Robin Shipping to acquire the vessel, the Lewek Robin.</p></div>

<div class=newsTextDataWrapInner><p>Perisai said the acquisition would be funded partially by external borrowings of US$4.55 million (RM15 million), with the remaining US$2.45 million (RM8 million) on seller’s credit.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The seller’s credit is assigned to Lewek Robin Shipping’s related company, Emas Offshore (M) Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>The firm said Emas Offshore would charter the Lewek Robin from Intan Offshore at a rate of US$2,600 (RM8,530) per day. The duration would be up to the point of full repayment of the loan.</p></div>

<div class=newsTextDataWrapInner><p>Perisai said it expected the acquisition to be completed in the second quarter of this year.</p></div>

<div class=newsTextDataWrapInner><p>“The Perisai group is expected to benefit positively from the acquisition of Lewek Robin as she will continue her charter with Emas Offshore," said Perisai.</p></div>

<div class=newsTextDataWrapInner><p>“The acquisition will broaden the Intan Offshore group’s asset offering and will provide greater economies of scale to the marine operations of the Intan Offshore group."</p></div>

KUALA LUMPUR (Mar 14): Perisai Petroleum Teknologi Bhd has acquired an anchor handling tug vessel for US$7 million (RM23 million) from Lewek Robin Shipping Pte Ltd.

In a filing with the stock exchange, Perisai said its indirect 51% controlled subsidiary Intan Offshore (L) Ltd had today entered into a memorandum of agreement with Lewek Robin Shipping to acquire the vessel, the Lewek Robin.

Perisai said the acquisition would be funded partially by external borrowings of US$4.55 million (RM15 million), with the remaining US$2.45 million (RM8 million) on seller’s credit.

The seller’s credit is assigned to Lewek Robin Shipping’s related company, Emas Offshore (M) Sdn Bhd.

The firm said Emas Offshore would charter the Lewek Robin from Intan Offshore at a rate of US$2,600 (RM8,530) per day. The duration would be up to the point of full repayment of the loan.

Perisai said it expected the acquisition to be completed in the second quarter of this year.

“The Perisai group is expected to benefit positively from the acquisition of Lewek Robin as she will continue her charter with Emas Offshore," said Perisai.

“The acquisition will broaden the Intan Offshore group’s asset offering and will provide greater economies of scale to the marine operations of the Intan Offshore group."

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The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.

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Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.

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Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.

Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.

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Ahmad Zahid, who is also Barisan Nasional (BN) chairman, said this was discussed at the Unity Government secretariat meeting on Wednesday.

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All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.

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KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Sapura Energy, PIE Industrial, LSH Capital, YX, Westports, Yinson, Sime Darby Property, MISC, Meta Bright, EG Industries, Hextar, Uzma, Nova MSC and Iconic Worldwide

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated 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.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

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(April 19): Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.

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<p>KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:</p>

<p>Shares of <strong>Sapura Energy Bhd</strong> have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

<p>KUALA LUMPUR (April 19): M&amp;A Equity Holdings Bhd announced that an individual by the name of Siti Nur Aishah Ishak has become a substantial shareholder of the stockbroking firm, after acquiring a 0.13% stake in the company.</p>


Siti Nur Aishah emerges as substantial shareholder of M&A Equity

<p>SINGAPORE (April 19): CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), as the integrated financial services provider launched its new identity in Singapore on Thursday (April 18).&nbsp;</p>


CGS-CIMB Securities rebrands as CGS International, aims to double revenue to S$700 mil by 2030

<p>KUALA LUMPUR (April 19): Silver Ridge Holdings Bhd said its wholly owned unit is being sued by a subcontractor over alleged outstanding contract payments.</p>


Silver Ridge’s unit slapped with suit over alleged unpaid contract sums

<p>Prime Minister Datuk Seri Anwar Ibrahim said on Friday he does not want to be dragged into discussions over the purported addendum order on house arrest involving former premier Datuk Seri Najib Tun Razak.</p>

<p>Anwar said this was because the matter falls under the jurisdiction of the Federal Territories Pardons Board and also involves the Yang di-Pertuan Agong and the Malay Rulers.</p>


Addendum order issue under Pardons Board's purview, says Anwar

<p>The mandatory general offer (MGO) for the remaining 34.1% stake in Pan Malaysia Holdings Bhd (PM Holdings), launched by property developer Exsim Group's founders, the Lim brothers, concluded on Friday with acceptances for only 35,997 shares received.</p>


No change in Lim brothers' stake as Pan Malaysia Holdings' MGO concludes

<p>KUALA LUMPUR (April 19): Iconic Worldwide Bhd has raised a total of RM95.6 million through its rights issue exercise with free warrants, which was oversubscribed.</p>


Iconic Worldwide’s rights issue oversubscribed, raises RM95.6 mil

<p>SINGAPORE (April 19): Wilmar International Ltd’s board of directors has appointed former foreign minister George Yeo as a non-executive and independent director with effect from Friday.</p>


Wilmar appoints former Singapore foreign minister George Yeo as non-executive and independent director

<p>KUALA LUMPUR (April 19): Ten individuals suspected of being involved in the case related to an&nbsp;Israeli man who was charged with possessing bullets and trafficking&nbsp;guns, were rearrested under the Security Offences (Special Measures) Act 2012 (Sosma).</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.</p>

<p>Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.</p>


<p>All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.</p>


<p>Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.</p>

<p>Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.</p>


<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday due to persistent weakness in the soybean oil market on the Chicago Board of Trade, said a dealer.</p>

<p>Palm oil trader David Ng noted that market sentiment has been influenced by concerns regarding the anticipated surge in output over the coming weeks, which is perceived as exerting pressure on the market</p>


CPO futures end lower due to weaker soybean futures

<p>KUALA LUMPUR (April 19): Proposals for improvement, including efforts to increase the net income rate of civil servants, will be announced by Prime Minister Datuk Seri Anwar Ibrahim at the Labour Day rally to be held later.</p>

<p>Anwar, in his Facebook post, said the Meeting No 3/2024 of the ...

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<p>CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses. &nbsp;</p>

<p>The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.</p>


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<p>Fitters Diversified Bhd has landed a subcontract worth RM26.1 million from a unit of IJM Corp Bhd for fire protection services at the compound of a four-storey logistics hub, including its parking and ancillary buildings, in Shah Alam, Selangor.</p>


Fitters Diversified bags RM26.1 mil fire protection services job

<p>The Nasdaq and the S&amp;P 500 dipped on Friday, with Netflix among the biggest drags on a dour quarterly forecast, while all three indexes stared at weekly losses amid diminishing hopes that the Federal Reserve would cut interest rates anytime soon.</p>


<p>HPP Holdings Berhad slipped into the red in the third quarter ended February 29, 2024 (3QFY2024) for the first time since its listing on the ACE market in January 2021, mainly due to commission payments of RM520,000 and a one-time compensation payment of RM400,000 million to foreign workers, in line with the group's adherence to its zero recruitment fee policy.</p>

<p>It posted a net loss of RM62,200 in 3QFY2024 compared to a net profit of RM1.53 million in the previous corresponding quarter, resulting in a loss per share of 0.16 sen for 3QFY2024 compared to earnings per share of 0.39 sen for 4QFY2023.</p>


HPP Holdings posts first-ever quarterly loss of RM62,200 since listing

<p><strong>A weekly round-up of tanker and dry bulk market (April 19, 2024)</strong></p>

<div class="mt-3 imgw-800 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//assets.theedgemarkets.com/pics/2024/BE194.jpg"><img alt="" src="//assets.theedgemarkets.com/pics/2024/BE194.j...

Baltic Exchange shipping updates: April 19, 2024

<p>The government is looking at the need to formulate policies and amend any relevant legislation so that Malaysia is always investor-friendly and can support the development of artificial intelligence (AI) infrastructure, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>However, he said data security should be given priority.</p>
