Kg Lekir-Beruas stretch of West Coast Expressway to open from tonight [ 9m ago ]

News in brief: Oct 31, 2018

Last update: 31/10/2018
MUAR BAN LEE GROUP BHD’s wholly-owned subsidiary, Muar Ban Lee Engineering Sdn Bhd (MBLE) has disposed of its 33 per cent of equity interest in PT Banyuasin Nusantara Sejahtera for RM4.77 million.

In filing with Bursa Malaysia today, the group said its unit has entered a sale and purchase agreement with Tuan Khor Soo Ping.

The disposal will not have any effect on the group’s share capital and substantial shareholders’ shareholding.

-- BERNAMA



SHAPADU CORPORATION SDN BHD’S wholly-owned subsidiary, Shapadu Energy Services Sdn Bhd has been appointed as the subcontractor for Arkema Plant Expansion Kerteh 2 from LFE Engineering Sdb Bhd for a contract sum of RM643,000.

In a filing to Bursa Malaysia today, Shapadu Energy, received the letter of award from LFE Engineering Sdn Bhd for the appointment.

“The contract is for a period of six months and is expected to contribute positively to the earnings and net assets per share of LFE Group for the financial year ended Dec 31, 2018 and up to the expire of the contract,” it said.

-- BERNAMA



PT BANK CIMB NIAGA TBK reported a consolidated net profit of IDR206 trillion for the first nine months of 2018, representing an 18.0 per cent year-on-year (y-o-y) growth and translating into earnings per share of IDR103.99.

The improved net profit came on the back of a 23.6 per cent increase in non-interest income to IDR2.9 trillion and a 26.8 per cent y-o-y decline in provision expenses, it said in a statement today.

It said CIMB Niaga’s loan loss coverage remained comfortable at 101.24 per cent.

-- BERNAMA



CENERGI SEA SDN BHD hopes the government will continue to provide green technology tax incentives and consultancy services from the current end-date of year 2020 to year 2025, under Budget 2019.

Chief executive officer Ernest Navaratnam said the incentives would enable small and medium enterprises (SMEs) to grow the Renewable Energy (RE) market.

“Generally, financial institutions view RE as a higher risk investment. As most green technology companies are SMEs, extra government support will be required to overcome funding barriers.

“Incentivising SME investments in the RE sector would help enable a diversification of Malaysia’s renewable energy market and portfolio beyond solar, thus helping the nation to meet its 20 per cent RE target by 2025,” he said in a statement.

-- BERNAMA



AIRASIA GROUP BHD has completed the transfer of six aircraft and 14 aircraft engines which generated gross proceeds of US$148.89 million.

In filing with Bursa Malaysia today, the low-cost airline also said it completed the Red 4 Sale Share by AACL to fly Acquisition III Limited on Oct 25.

-- BERNAMA





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