UMW Holdings Bhd has announced the commencement of the member’s voluntary winding up (“liquidation”) for four of its subsidiaries under the Unlisted Oil & Gas segment. The subsidiaries that have commenced liquidation are:
Petronas, through its subsidiary, PC Oman Ventures Ltd., (“PCOVL”) acquired a 10% stake in Block 61, onshore Oman from Makarim Gas Development LLC (“MGD”), a subsidiary of Oman Oil Company Exploration & Production LLC (OOCEP), after the conditions for the completion of the transaction were fulfilled.
The completion of the transaction was formalised at an event held in Muscat, Oman on 27 December 2018. PCOVL holds a 10% stake while MGD holds a 30% stake and BP Exploration (Epsilon) Limited as the Operator holds the remaining 60% stake.
Berjaya Corporation Bhd registered a lower revenue of RM1.99 billion as compared to the revenue of RM2.19 billion reported in the corresponding quarter of the previous year mainly due to lower revenue contribution from the consumer products and services segment and the property segment.
The consumer products and services segment are operating in an intensely competitive trading environment, pervaded with numerous online marketing portals as well as
other direct selling competitors. Revenue from the property segment has decreased following a slowdown in the sales of the Group's high-end projects.
MYTV Broadcasting Sdn Bhd (MYTV) will contribute a total of 1.5 million free decoder sets nationwide in phases beginning in January.
Starting with a verification process, selected recipients should have received or shall be receiving a notification letter to inform on the provision of free decoders.
WillKey™, Malaysia’s first will registry, centralised will search and storage is partnering with Sunway Pals Loyalty Sdn Bhd, a loyalty programme that is part of Malaysian conglomerate Sunway Group.
This partnership enables Sunway Pals Members to earn 20x Pals Points when they sign up as customers through WillKey™’s will registration service and an additional 5,000 Pals Points if they opt to be will storage customers, the points will be calculated based on the standard rate of one Pals Point per RM1 spent.
Malaysia’s peer-to-peer (P2P) financing industry is expected to continue thriving with an anticipated 300 per cent growth to RM300 million in 2019 (2018: RM100 million), said Funding Societies Malaysia chief executive officer, Wong Kah Meng.
Against the backdrop of the Budget 2019 announcement which suggested a more proactive role of P2P financing in alleviating the financing gap encountered by both the micro, small and medium enterprises (SMEs) as well as first-time home buyers, prospects are bright for growth acceleration.
IGSS GaN (IGaN), a Singapore- based global leading technology developer in gallium nitride on silicon technologies (GaN-on-Si), and SilTerra Malaysia Sdn. Bhd., a home-grown Malaysian semiconductor wafer foundry, are pleased to announce an exclusive technology transfer partnership designed to significantly reduce production costs up to 2x, with high-volume manufacturing capabilities that now includes larger wafer areas.
Konsortium E-Mutiara Berhad, express bus operators has become the first company in Asia to adopt Scania Ecolution to reduce their fleet’s carbon dioxide (CO2) emissions for the betterment of the environment.
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.
A new management team is taking over at MBE Malaysia, the network of Mailboxes Etc retail shipping and business services outlets, with the acquisition of MBE Business Corporation Sdn Bhd (MBC).
MBE Ventures, led by entrepreneur Patrick Leung, has bought 100 per cent of MBC from founder Brian Chow and hence MBC holds the Master Franchisee license.
