KUCHING: Zecon Bhd has requested its financiers to extend the standstill agreement between them for another six months. The one-year standstill agreement signed between Affin Hwang Investment Bank Bhd, Bank Pembangunan Malaysia Bhd and Affin Bank Bhd (financiers) with Zecon and Huang Hong Sdn Bhd on Sept 24, 2021 expired
KUCHING: The European Union 27 member countries’ (EU27) imports of wooden doors from Malaysia has dropped sharply to a negligible level as the bloc is trending towards the use of engineered wood in place of solid timber. Last year, EU27 imported merely euro 1.8 million worth of wooden doors from
KUCHING: The clients of Sarawak Consolidated Industries Bhd (SCIB) and its wholly-owned subsidiary SCIB International (Labuan) Ltd (SCIBL) have agreed to take on the debts the latter owe to their sub-contractors in six projects in Qatar and Oman. The agreement was reached after SCIB and SCIBL signed the respective novation
KUCHING: Perdana Nautika Sdn Bhd (PNSB) has received a work order award with contract value of about RM6 million from Petronas Carigali Sdn Bhd for the charter of one unit of anchor handling tug & supply (ATHS) vessel. The contract for the wholly-owned subsidiary of Perdana Petroleum Bhd (PPB) had
KUCHING: OM Holdings Ltd’s group after-tax profit has shot up to US$60 million (RM268.9 million) in first half-year ended June 30, 2022 (1H2022) from US$18.1 million (RM81.1 million) in 1H2021, boosted by the higher prices of ferro silicon (FeSi), silico manganese alloys and manganese ores. Revenue from operating activities climbed
KUCHING: Japan has increased its plywood imports from China for the third consecutive month but slowed down shipments from the top supplying countries Malaysia and Indonesia. In June 2022, Japan shipped 37,500 cubic metres (cu m) of plywood from China compared to 32,200 cu m and 25,000 cu m in
KUCHING: Ocean Vantage Holdings Bhd (OVH) has met the Bumiputera equity requirement following the completion of the issuance of special issue shares to Bumiputera investors. The company has said earlier that up to 61.65 special issue shares would be issued to Bumiputera investors to be identified and approved by the
KUCHING: EU27’s (European Union 27 member countries) import value of tropical wood and wood furniture products in the April-June 2022 quarter (2Q2022) has shot up to its highest quarterly level since at least before the 2007-2008 financial crisis. In the current quarter under review, imports of these products by the
KUCHING: OM Holdings Ltd’s group after-tax profit has shot up to US$60 million (RM268.9 million) in first half-year ended June 30, 2022 (1H2022) from US$18.1 million (RM81.1 million) in 1H2021, boosted by the higher prices of ferrosilicon (FeSi), silicomanganese alloys and manganese ores. Revenue from operating activities climbed 35 per
KUCHING: Miri-based Sealink International Bhd has significantly cut its group net loss to about RM1.1 million in Q22022 from RM7.5 million in Q22021 as revenue rose to RM16.1 million from RM9.99 million previously. Losses per share were reduced to 0.21sen from 1.5sen. Sealink attributed the 61 per cent increase in
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