<div>This article first appeared in <em>The Edge Financial Daily,</em> on March 2, 2017.<br />
<br />
&nbsp;</div>

<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Petrol One Resources Bhd has secured a support services agreement for the Asia Petroleum Hub Terminal Facilities project in Tanjung Bin, Johor.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, Petrol One said the agreement was signed between its indirect wholly-owned subsidiary Petrol One Offshore Sdn Bhd (POOSB) and Dalian Jinzhou Heavy Machinery Co Ltd (DJHM).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Under the contract, POOSB will provide a supply base measuring five acres (2ha) on a plot of land located adjacent to the Port of Tanjung Pelepas in Johor, along with warehouse and logistic support, agency services and custom clearance, and marine support services.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, DJHM will pay a fee for the support services at a rate of cost plus 5%.</p></div>

<div class=newsTextDataWrapInner><p>Petrol One said it will announce the cost of the project at a later date, as the two parties to the agreement are still in the midst of finalising the details of the cost of the project.</p></div>

<div class=newsTextDataWrapInner><p>“The support services agreement is expected to contribute positively to the consolidated earnings per share of Petrol One for the financial year ending June 30, 2018,” said the company.</p></div>

<div class=newsTextDataWrapInner><p>Trading in Petrol One shares has been suspended since 2014. The counter was last traded at 5.5 sen.</p></div>


This article first appeared in The Edge Financial Daily, on March 2, 2017.

 

KUALA LUMPUR: Petrol One Resources Bhd has secured a support services agreement for the Asia Petroleum Hub Terminal Facilities project in Tanjung Bin, Johor.

In a fili...

 Petrol One secures contract for Asia Petroleum Hub

South Korea’s finance minister says fears the nation will slide into a recession next year are “excessive”, as he played down the view that this week’s bungled martial law decree will have a lasting impact on the economy or markets.

South Korean finance chief calls recession fears ‘excessive’

The Armed Forces Fund Board (LTAT) clarified that its restructuring plan has not been cancelled, but refined to address current challenges and leverage new opportunities.

LTAT says restructuring plan not cancelled but refined

Malaysia’s becoming one of the global leaders in Islamic finance stands as a testament to decades of visionary planning, commitment and strategic alignment between the country’s public and private sectors.

MySay: Malaysia’s strategic path to global Islamic finance leadership

Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa on Friday denied issuing any media statement regarding the purported royal addendum that allegedly allows former prime minister-turned-prisoner Datuk Seri Najib Razak to be placed under house arrest.

FT minister denies issuing statement on alleged royal addendum for Najib's house arrest

Imprisoned former prime minister Datuk Seri Najib Razak said that he had "nothing to hide" regarding the controversial monies at the heart of his graft trial, and "meticulously recorded" his expenses to keep track of the funds.

1MDB-Tanore: Najib says he has 'nothing to hide', kept diligent documentation

Work will continue on the BRICS settlement system despite US President-elect Donald Trump's threat to impose 100% import duties on countries that try to undermine the dollar, the RIA news agency cited a senior Russian official as saying on Friday

Russia official says Trump's threat will not stop work on BRICS payment system, RIA reports

US President-elect Donald Trump said on Thursday he has chosen former Senator David Perdue to be ambassador to China, tapping a former politician with business experience to help steer relations riven by deep mistrust and trade tensions.

Trump picks former Senator David Perdue as ambassador to China

Former finance minister Lim Guan Eng on Friday lost his appeal at the Court of Appeal over his defamation suit against MCA vice-president Datuk Tan Teik Cheng and Star Media Group Bhd (KL:STAR).

Appellate court dismisses Guan Eng's defamation appeal against MCA's VP, The Star over letter to editor

Analysts have raised their earnings forecasts for Pavilion Real Estate Investment Trust (KL:PAVREIT) following the acquisition of two premier hotels, namely Banyan Tree and Pavilion Hotel in Kuala Lumpur, for a sum of RM480 million.

Analysts raise earnings forecasts after Pavilion REIT adds two hotels to portfolio

Datuk Seri Najib Razak said the testimony of Datuk Shahrol Azral Ibrahim Halmi — in which the ex-chief executive officer of 1Malaysia Development Bhd (1MDB) claimed to have received and then deleted "talking points" or "action plans" from fugitive businessman Low Taek Jho (Jho Low) regarding 1MDB's acquisition of power plants funded by issuance of bonds guaranteed by the International Petroleum Investment Company (IPIC) — was made in an attempt to protect himself.

Najib: Shahrol deleted Jho Low's 1MDB action plans to protect himself, not me

<p>A total of 2.65 million or 36.2% of the 7.33 million active formal members of the Employees Provident Fund (EPF) aged 18 to 55 have achieved the basic savings&nbsp;according to age as at&nbsp;Oct&nbsp;30, 2024, said the Ministry of Finance (MOF).</p>


Basic savings achieved for 2.65 million or 36.2% of active EPF members — MOF

<p>The data centre market in Southeast Asia has experienced robust growth over the last few years, driven by increased internet penetration, accelerating digital transformation, and rising demand for cloud services.&nbsp;</p>


The rise and rise of the Malaysian data centre hub

<p>Malaysia’s worst flood season in the decade occurring currently has had minimal impact on the production of crude palm oil (CPO), said TA Research.</p>


Minimal impact from flood season on CPO production, says TA

<p>The long-held precept that a weak yen is a good thing for Japanese stocks may finally be put to rest, as the breakdown in their correlation accelerates amid divergence in global monetary policy.</p>

<p>Since its big summer crash, the Topix has been stuck in a narrow trading band even as the yen has swung between a 14-month high of 139.58 per dollar in mid-September and a mid-November low of 156.75, which was not far from its 38-year trough in July.</p>


Cheap yen boost for Japan’s stocks shrinks to nil on hawkish BOJ

<p>Stocks lost steam near all-time highs, with Wall Street traders gearing up for key jobs data that will help determine whether the US Federal Reserve (Fed) will cut or hold interest rates in December.</p>


US stock rally stalls as anxiety brews in jobs run-up

<p>Former finance minister Lim Guan Eng on Friday lost his appeal at the Court of Appeal over his defamation suit against MCA vice-president Datuk Tan Teik Cheng and Star Media Group Bhd (KL:STAR).</p>


<p>A senator hopes the government will consider using an e-wallet mechanism in the distribution of RON95 subsidies to eligible citizens.</p>

<p>Senator Datuk Lim Pay Hen said the use of e-wallet&nbsp;is more targeted and systematic than identity cards, because it will not complicate consumers when dealing at petrol stations.</p>


Senator proposes e-wallet mechanism to channel RON95 subsidy

<p>Asian equities tracked a drop in US shares ahead of jobs data that may help shape the direction of the Federal Reserve’s (Fed) policy path later this month.</p>

<p>Equities in Japan, Australia and futures in Hong Kong all fell, taking cues from the downbeat mood on Wall Street. The S&amp;P 500 dropped 0.2% and the tech-heavy Nasdaq 100 slipped 0.3%, their first declines in five sessions.</p>


Asian equities edge lower ahead of US jobs data

<p>The recent pullback at Tenaga Nasional Bhd or TNB (KL:TENAGA) represents a buying opportunity, said CGS International, which expects above-average demand growth to translate into higher regulated capital expenditure (capex)&nbsp;requirements for the utility player in the next three years.</p>


Higher TNB capex seen in 2025-2027, says CGS International

<p>The leader of South Korea’s ruling party said President Yoon Suk Yeol should be suspended from office quickly, an abrupt shift in stance that makes it more likely an impeachment motion will pass.</p>


South Korea's Yoon could be impeached soon as key ally shifts stance

<p>Bank Negara Malaysia (BNM) is currently fine-tuning a proposal from the Reserve Bank of India (RBI) to develop a Local Currency Settlement Framework (LCSF) to enhance the use of the ringgit and Indian rupee in bilateral trade, said the Ministry of Investment, Trade and Industry (Miti).</p>


BNM refining RBI's proposal for Local Currency Settlement Framework, to enhance use of ringgit and rupee in trade

<p>Datuk Seri Najib Razak said the testimony of Datuk Shahrol Azral Ibrahim Halmi — in which the&nbsp;ex-chief executive officer of 1Malaysia Development Bhd&nbsp;(1MDB) claimed to have received and then deleted "talking points" or "action plans" from fugitive businessman Low Taek Jho (Jho Low) regarding 1MDB's acquisition of power plants funded by issuance of bonds guaranteed by the International Petroleum Investment Company (IPIC)&nbsp;— was made in an attempt to protect himself.</p>


<p>Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa&nbsp;on Friday denied issuing any media statement regarding the purported royal addendum that allegedly allows former prime minister-turned-prisoner Datuk Seri Najib Razak to be placed under house arrest.</p>


<p>Imprisoned former prime minister Datuk Seri Najib Razak said that he had "nothing to hide"&nbsp;regarding the controversial monies at the heart of his graft trial, and "meticulously recorded" his expenses to keep track of the funds.</p>


<p>Prudential plc announced&nbsp;that it will commence the second tranche of its US$2 billion (RM8.86 billion) share buy-back programme for US$800 million. This follows the&nbsp;completion of the first tranche of the programme on Nov 15&nbsp;for US$700 million.</p>


Prudential starts US$800m share buy-back programme

<p>Emmanuel Macron said he will serve out the remainder of his presidential term, as he seeks to quickly stymie the political turmoil in France,&nbsp;after Marine Le Pen’s far-right party allied with leftist lawmakers to topple his government.&nbsp;</p>


Macron vows to stay on as French president, picks new PM

<p>Analysts have raised their earnings forecasts for Pavilion Real Estate Investment Trust (KL:PAVREIT)&nbsp;following the acquisition of two premier hotels, namely Banyan Tree and Pavilion Hotel in Kuala Lumpur, for a sum of RM480 million.</p>


<p>The Armed Forces Fund Board (LTAT) clarified that its restructuring plan has not been cancelled, but refined to address current challenges and leverage new opportunities.</p>


<p>US President-elect Donald Trump said on Thursday he has chosen former Senator David Perdue to be ambassador to China, tapping a former politician with business experience to help steer relations riven by deep mistrust and trade tensions.</p>


<p>Private credit may be all the rage among investors, but there are better alternatives, according to JPMorgan Asset Management.</p>
