Author: Alvin Tang

Tycoon ups shares in Serba Dinamik

KUCHING: Serba Dinamik Holdings Bhd group managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah (pic) has forked out RM10.542 million to acquire 2.51 million of the company’s shares at RM4.20 each. Making the acquisition in a direct business transaction on Nov 6, he has upped his equity interest

Velesto wins US$131 mln Carigali Hess contract

KUCHING: Velesto Drilling Sdn Bhd has secured a US$131 million (RM541 million) contract from Carigali Hess Operating Company Bhd for the provision of 10K jack up drilling rig for its 2020 drilling programme. The contract is expected to commence in second half of 2020 for a duration of three years,

Oil palm is Jaya Tiasa’s main money earner

KUCHING: The oil palm business has emerged as the biggest revenue generator for Jaya Tiasa Holdings Bhd, a traditional timber-based company. The group’s planted oil palm areas has expanded to 69,589 hectares, spreading over 10 plantations in Sarawak, which have all matured. The group also owns four palm oil mills

Jaya Tiasa sees weak timber outlook

KUCHING: Jaya Tiasa Holdings Bhd expects its logging business to be hit by weakening demand and increased competition from other timber producing regions. According to its chief executive officer Datuk Wong Sie Young, the ongoing trade war between US and China would affect timber price and demand. Already, the Sibu-based

SCIB secures five EPCC contracts

KUCHING: Sarawak Consolidated Industries Bhd (SCIB) has secured five engineering, procurement, construction and commissioning (EPCC) contracts worth a total of RM175.4 million. Two of the contracts are in Malaysia and three others overseas — in Indonesia, Qatar and Oman. This is believed to be the first time for SCIB, whose core

Shin Yang buys two container vessels

KUCHING: Shin Yang Shipping Corporation Bhd (Syscorp) has boosted the transportation capacity of its containerised shipping with the acquisition of two container vessels. The two vessels, which were bought in the financial year ended June 30, 2019 (FY2019) has carrying capacity of 800 to 1,000 twenty-foot equivalent units (TEU) per

SOP subscribes for US$4.625m worth of Seaworth shares

KUCHING: Sarawak Oil Palms Bhd’s (SOP) wholly-owned subsidiary Asia Oils Investment Ptd Ltd (AOIPL) has subscribed for shares worth US$4.625 million in a Singapore-based company, Seaworth Pte Ltd. The share subscription is to enable the SOP group to participate in the shipping business and to provide logistical support to the

Buying spree

Press Metal unit acquires four aluminium-related firms KUCHING: Press Metal Aluminium Holdings Bhd’s wholly-owned subsidiary PMB (Klang) Sdn Bhd is buying several aluminium-related companies in Peninsular Malaysia and Sabah for cash consideration of RM44.39 million. Three of the companies are owned by Everlast Aluminium (M) Sdn Bhd, which is 100

Nov 13 deadline for tycoon’s offer to buy KPB shares

KUCHING: Business tycoon Datuk Dr Mohd Abdul Karim’s (pic) unconditional mandatory takeover offer to acquire the remaining Kumpulan Powernet Bhd (KPB) shares not already owned by him and persons acting in concert (PACs) will remain open for acceptances until Nov 13, 2019. The executive deputy chairman of KPB is offering

Dayang’s first sukuk issuance within 
60 business days

KUCHING: Dayang Enterprise Holdings Bhd (DEHB) will make the first issuance of unrated Islamic medium term notes (Sukuk Murabahah) Programme within 60 business days from Oct 22, 2019, the day it made a lodgement with Securities Commission Malaysia (SC). The lodgement pursuant to SC’s Guidelines on Unlisted Capital Market Products