HSBC Insurance (Asia Pacific) Holdings Limited, an indirect wholly-owned subsidairy of HSBC Holdings plc, has reached an agreement with FWD Life Insurance Company (Bermuda) Limited, a subsidiary of FWD Limited, for the sale of its 49 per cent shareholding in HSBC Amanah Takaful (Malaysia) Berhad (HATB) to FWD.
The transaction has obtained approval from the Minister of Finance, via Bank Negara Malaysia, and is expected to be completed during the first half of 2019.
PETRONAS Chemicals Group Berhad’s (PCG) marketing entity, PETRONAS Chemicals Marketing (Labuan) Ltd (PCML), signed a Sales and Purchase Agreement with Sarawak Petchem Sdn Bhd (Sarawak Petchem), to market the methanol product from the Sarawak Methanol Project.
Under the agreement, PCML will be the marketing arm for Sarawak Petchem’s methanol product from Sarawak Methanol Plant in Bintulu for 20 years with an option for further extension.
Destini Berhad (Destini or the Group) was awarded a contract for the provision of tubular handling, conductor installation and slot recovery equipment and services for the Pan Malaysia Petroleum Arrangement Contractors (PAC) Operators’ Drilling Program by Petronas Carigali Sdn Bhd (PCSB).
The award which was received by Destini Oil Services Sdn Bhd (DOS), a wholly-owned subsidiary of Destini, will see DOS as the primary contractor for (i) tubular handling, conductor installation and slot recovery for shallow water in East Malaysia and (ii) tubular handling for deep water.