<div>This article first appeared in<em> The Edge Financial Daily,</em> on October 5, 2016.<br />
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<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Ranhill Holdings Bhd, via a consortium of private companies, has obtained approval from the Energy Commission (EC) for the proposed development of a 300mw combined-cycle gas turbine power plant in Sabah.</p></div>

<div class=newsTextDataWrapInner><p>Ranhill owns a 50% equity stake in one of the companies.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The consortium is instructed to commence negotiations with Petroliam Nasional Bhd and the company identified by the government of Malaysia to develop the Trans-Sabah Gas Pipeline, to ascertain the terms and conditions of the gas supply required for the project.</p></div>

<div class=newsTextDataWrapInner><p>“A letter of award will be issued by the EC after the terms of the gas supply agreement are determined,” it said in a filing with Bursa Malaysia yesterday.</p></div>

<div class=newsTextDataWrapInner><p>Ranhill said it will make the necessary announcement to Bursa when there are material developments.</p></div>

<div class=newsTextDataWrapInner><p>The group was commenting on a news report yesterday that it was poised to secure a mandate for its third combined-cycle power plant in Sabah.</p></div>


This article first appeared in The Edge Financial Daily, on October 5, 2016.

 

KUALA LUMPUR: Ranhill Holdings Bhd, via a consortium of private companies, has obtained approval from the Energy Commission (EC) for the proposed development of a 300mw combin...

Ranhill gets nod to build Sabah power plant

The Court of Appeal (COA) has fixed Dec 5 to hear former prime minister Datuk Seri Najib Razak’s appeal against the High Court’s dismissal of his judicial review asking for the production of a purported addendum that allows him to serve the remainder of his jail sentence under house arrest.

COA fixes Dec 5 to hear Najib’s appeal over purported addendum on house arrest

The recent announcement to revise the export tax on crude palm oil (CPO) is aimed at enhancing downstream refining operations in Malaysia's palm oil industry, Minister of Plantations and Commodities Datuk Seri Johari Abdul Ghani said.

Higher CPO export tax to encourage local downstream refining, says Johari Ghani 

AP Moller-Maersk A/S, a bellwether for global trade, increased its full-year guidance for a fourth time in less than six months, citing stronger demand and higher freight rates caused by supply chain disruptions from attacks in the Red Sea.

Maersk raises guidance again as Red Sea attacks boost rates

Lee Hsien Yang, the youngest son of the late founder of modern Singapore Lee Kuan Yew, said on Tuesday he is now a political refugee, in the latest twist in a high-profile feud in the city-state's most famous family.

Lee Kuan Yew's youngest son says he is now a political refugee as family spat snowballs

MALAYSIA needs to hasten a slew of reforms to raise wages and break the stagnating labour share of income ahead of an impending rise in the cost of living in a briskly growing economy, say economists.

While unemployment in the country hovers at around 3%, a level considered near full em...

Malaysia needs urgent reforms as higher cost of living looms, say economists

Avaland Bhd (KL:AVALAND) is unveiling the 13.4-acre master plan of its Avenue25 integrated development located in USJ 25, Subang Jaya, on Oct 12.

Currently, only the first residential project at the development has been launched. Sitting on 2.68 acres of freehold land with a gross devel...

Cover Story: Avaland unveils Avenue25 master plan

Malaysia’s international reserves stood at US$119.6 billion (RM516.89 billion) as at Oct 15, 2024, compared to US$119.7 billion on Sept 30, 2024.

BNM's international reserves at US$119.6b as at Oct 15, 2024

Horizon Robotics, a Chinese provider of software and hardware used in autonomous driving systems, priced its Hong Kong initial public offering at the top of the range to raise HK$5.4 billion (RM3 billion), according to terms of the deal obtained by Bloomberg News.

Horizon Robotics raises US$696 mil in Hong Kong IPO

The US is in talks with several Southeast Asian nations about deploying small modular nuclear reactors, as global interest in the low-carbon energy source increases.

US in talks with Southeast Asian nations to deploy small nuclear reactors

Budget 2025 has set aside sizeable funds, both fiscal and non-fiscal, towards ensuring the success of the National Semiconductor Strategy (NSS), which is part of the New Industrial Master Plan 2030 (NIMP 2030).

Zafrul: Budget 2025 measures show strong support for semiconductor sector

<p>Petroliam Nasional Bhd (Petronas)&nbsp;is considering selling a minority stake in renewable energy firm Gentari Sdn Bhd&nbsp;to help expand the business, according to people with knowledge of the matter.</p>

<p>The state-owned energy company is working with an adviser, and has drawn interest from infrastructure funds and industry peers, the people said, asking not to be identified as the process is private.&nbsp;</p>


Petronas could sell minority stake in renewable energy unit Gentari to help expand business — Bloomberg

<p>The appointment of Datin Nooryana Najwa Najib, daughter of jailed former prime minister Datuk Seri Najib Razak, as a director of the Malaysia External Trade Development Corporation (Matrade) needs some explaining.</p>


Frankly Speaking: Has Nooryana done anything to deserve Matrade appointment?

<p>Gamuda Bhd (KL:GAMUDA) and its joint-venture (JV) partners have been awarded a RM4.3 billion main design and build contract by the Department of Rapid Transit Systems, New Taipei City Government, to deliver the Xizhi Donghu Mass Rapid Transit (MRT) in Taiwan.</p>


Gamuda JV wins RM4.3 bil MRT job in Taiwan

<p>Beverage manufacturer Life Water Bhd has launched its initial public offering (IPO) that would raise RM81.87 million for its listing on the Main Market.</p>

<p>Priced at 65 sen per share, the IPO would give the Sabah-based company a market capitalisation of RM307.57 million, nearly 11 times the net profit for the financial year ended June 30, 2024 (FY2024), according to the prospectus unveiled on Tuesday.</p>


Life Water starts accepting IPO applications from investors for RM82m Main Market listing

<p>Bursa Malaysia Bhd (KL:BURSA) is expected to report a sequential decline in third-quarter earnings, amid lower trading volume and higher expenses, said CIMB Securities.</p>

<p>Net profit for the third quarter ended Sept 30, 2024 (3QFY2024) may have declined as much as 11% to RM71.3 million, as average daily volume fell and the cost-to-income rose, CIMB said in an earnings preview note. The stock exchange operator will also book lower operating profit margins in the derivatives market, the house said.</p>


Bursa may report 11% sequential dip in 3Q earnings as volume slips, costs rise — CIMB

<p>Prime Minister Datuk Seri Anwar Ibrahim defended&nbsp;the&nbsp;political appointees&nbsp;in government-linked companies (GLCs) and government-linked investment companies (GLICs) made under the unity government, saying they are all professionals.</p>


Appointees in GLICs and GLCs are professionals — PM

<p>Housing and Local Government Minister Nga Kor Ming said that the new proposal under the Urban Renewal Act (URA) to lower the threshold of consent from strata owners is intended to speed up the redevelopment of sites, while still safeguarding owners' rights.</p>


Lowered consent threshold to accelerate redevelopment while protecting owners' rights, says Nga

<p>Prime Minister Datuk Seri Anwar Ibrahim said the merger of Bank Pembangunan Malaysia Bhd (PBMB), Exim Bank&nbsp;and SME Bank is still in progress, and&nbsp;the focus on small and medium enterprises (SMEs) will continue.</p>


Merger of BPMB, Exim Bank and SME Bank still ongoing, says Anwar

<p>Bank Negara Malaysia (BNM) will stay on its toes against risks of faster than expected inflation in 2025 as the government embarks on subsidy rationalisation and raising taxes, said DBS Bank.</p>


BNM to stay on high alert for inflation risk in 2025 as subsidy retargeting looms, DBS warns

<p>Bagan Member of Parliament Lim Guan Eng called for an increase in the corporate income tax threshold to alleviate the burden on small and medium enterprises (SMEs) following the implementation of the new minimum wage of RM1,700.</p>


Guan Eng calls for higher corporate tax threshold following minimum wage hike

<p>Asian stocks turned lower and the dollar stood by multi-month peaks on Tuesday, as a sharp sell-off in bonds and a jump in gold suggested investors are hunkering down ahead of the US&nbsp;election.</p>

<p>Benchmark 10-year Treasury yields rose 11 basis points (bps) overnight and a further 1 bp in early Asian trade to 4.19%. Gold hit a record high just above US$2,740 (RM11,846) an ounce on Monday and traded at US$2,725 early on Tuesday.</p>


Bonds and Asian stocks slide, gold steady, as US election looms

<p>HSBC Holdings said on Tuesday it would combine its commercial and investment banking operations in a major overhaul under new chief executive officer Georges Elhedery that has also seen key senior staff depart.</p>


HSBC merges commercial and investment banking units, names first female CFO

<p>Great Eastern now has till Jan 24, 2025&nbsp;to comply with the free float rule. The extension was announced on Monday, two days before the company’s previous deadline of Oct 23.</p>


Great Eastern to have till January 2025 to comply with free float rule

<p>The US is paying close attention to the ‘dark fleet’ of tankers carrying restricted oil and doing ship-to-ship transfers in Southeast Asian waters, the State Department’s top energy official said.</p>

<p>Countries in the region need to consider the risks these activities pose, Geoffrey Pyatt, an&nbsp;assistant secretary for energy resources, said on the sidelines of the Singapore International Energy Week conference.&nbsp;</p>


US watching 'dark fleet' ship-to-ship oil transfers in Asian waters

<p>Lee Hsien Yang, the youngest son of the late founder of modern Singapore Lee Kuan Yew, said on Tuesday he is now a political refugee, in the latest twist in a high-profile feud in the city-state's most famous family.</p>


<p>A year after the latest escalation of the Palestinian-Israeli conflict, which has not stopped since 1948, Gaza is still burning. The images of tents outside the Al-Aqsa hospital, which were burnt with people dying in them, after yet another Israeli air raid in Deir al-Balah in central Gaza, and a...

My Say: No ceasefire and de-escalation in sight, instead full-blown war in the Middle East looms

<p>Stocks took a breather after notching their longest weekly rally this year, with traders gearing up for key earnings reports from Tesla Inc&nbsp;to Boeing Co&nbsp;and United Parcel Service Inc (UPS).</p>

<p>Following a relentless advance to all-time highs, equities dropped from nearly overbought levels. In another sign of how greed has trumped fear, the S&amp;P 500 hasn’t suffered back-to-back losses in about 30 sessions. While a month with no consecutive down days may not sound like much, the current streak ranks among the very best since 1928, according to data compiled by SentimenTrader.</p>


US stocks fall from record as earnings set to pick up

<p>The police have opened two investigation papers in connection with an altercation that went viral on social media&nbsp;involving several individuals, including a man believed to be an aide to the Kedah menteri besar.</p>


Police probing altercation on TikTok allegedly involving Kedah MB's aide

<p>The Ministry of Plantation and Commodities on Tuesday proposed investing in new technologies and infrastructure to more efficiently convert wastes from palm oil production into biomass energy.</p>


Plantation Ministry proposes investing in new tech, infra for waste-to-energy production

<h3><span style="color:#d35400;">Genting Malaysia Bhd</span></h3>

<p>Target price: <strong>RM3.30 <span style="color:#27ae60;">BUY</span></strong></p>

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