CORPORATE

TDM Undertakes Debt Rationalisation Exercise

 |  Wednesday, 12 September 2018 12:39  |  Published in CORPORATE

TDM Bhd announced that it will undertake a debt rationalisation exercise which will involve the full settlement of the outstanding Indonesian Rupiah Notes (“IDR Notes”) held by the Group’s Indonesian subsidiary, PT Rafi Kamajaya Abadi (“PT RKA”).

Under the debt rationalisation exercise, the Group will utilize a USD105 million (equivalent to RM434.3 million based on exchange rate of US$1 : RM4.14) credit facility in the form of a Foreign Currency Revolving Credit-i (“FCRC-i”) Commodity Murabahah to fully settle the Group’s outstanding IDR Notes used for TDM’s plantation operations in Kalimantan, Indonesia.

Bumi Armada Achieves Final Acceptance on The Armada Kraken FPSO

 |  Wednesday, 12 September 2018 12:38  |  Published in CORPORATE

Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad (“Bumi Armada” or “the Group”) last week announced that its Armada Kraken Floating Production Storage and Offloading (“FPSO”) vessel has been issued with the final acceptance certificate (“Final Acceptance”).

Final Acceptance was completed in accordance with the requirements set out in the bareboat charter contract dated 20 December 2013 (as supplemented by Amendment Agreement Number One, dated 19 August 2016, and Amendment Agreement Number Two, dated 27 August 2018) (“Bareboat Charter”).

Priceworth International's net profit jumps 196% in FY2018

 |  Friday, 07 September 2018 12:25  |  Published in CORPORATE

Priceworth International Bhd’s posted a higher net profit by 196 per cent for financial year ended June 30, 2018 (FY18) to RM13.84 million from RM4.70 million a year ago.

The timber and forestry group said in a Bursa Malaysia filling, the surge in earnings was mainly due to higher other income and the improvement in revenue.


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