<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 19): Sapura Energy Bhd is disposing of three drilling rigs to a UK-based cash buying company for US$8.2 million (RM35.14 million).</p></div>

<div class=newsTextDataWrapInner><p>In a Bursa Malaysia filing on Friday (Aug 19), Sapura Energy said three of its subsidiaries — Sapura Drilling T-19 Ltd, Sapura Drilling T-20 Ltd and Sapura Drilling Setia Ltd — have signed deals to sell the rigs to NKD Maritime Ltd.</p></div>

<div class=newsTextDataWrapInner><p>The group said the disposal of the rigs is part of its focus on long-term sustainability and improving its liquidity position, streamlining its operating model and providing greater flexibility for strategic growth.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The rigs are either ageing or not technically competitive. Based on the market demand, the company does not see any financially viable prospects that could cater for the rigs to be reactivated in the foreseeable future.</p></div>

<div class=newsTextDataWrapInner><p>"Therefore, the rigs have a high probability of being stacked in the coming years, which exposes the company to more costs and risk of deterioration," added Sapura Energy.</p></div>

<div class=newsTextDataWrapInner><p>Proceeds from the sale will be used for Sapura Energy's working capital subject to multi-currency facilities' conditions, the group said.</p></div>

<div class=newsTextDataWrapInner><p>Sapura Energy's share price settled 11.11% or half a sen higher at five sen on Friday, bringing a market capitalisation of RM799 million.</p></div>


Sapura Energy Bhd is disposing of three drilling rigs to a UK-based cash buying company for US$8.2 million (RM35.14 million).

Sapura Energy to sell three drilling rigs for RM35 mil

Seven people were injured, with one hospitalised after a plane operated by Singapore Airlines Ltd’s budget carrier Scoot encountered turbulence during a flight from the city state to Guangzhou in China on Friday, the Straits Times reported on Saturday.

Seven injured on Singapore Airlines’ Scoot flight to China, says Straits Times

Boeing's Starliner spacecraft landed uncrewed in a New Mexico desert late on Friday, capping a three-month test mission hobbled by technical issues that forced the astronauts it had flown to the International Space Station to remain there until next year.

Without astronauts, Boeing's Starliner returns to Earth

In a period of global uncertainty, Malaysia’s economy is demonstrating remarkable resilience and optimism. Along with the strong Q2 gross domestic product (GDP) of 5.9%, the surge in initial public offerings (IPOs) and strategic investments by government-linked investment companies (GLICs) is a c...

My Say: Malaysia sees economic optimism through increased IPOs and GLIC investments

The Ministry of Communications advises that a social media platform has to have content moderators who can understand various languages, especially local languages other than English.

Social media platform needs multilingual 'content moderator' — Teo

His Majesty Sultan Ibrahim, King of Malaysia, on Saturday warned that he will withdraw the federal awards, medals and honours of recipients who commit crimes, tarnish the country’s image or if punished by the courts.

Sultan Ibrahim warns recipients of federal awards, honours against tarnishing country's image

The government will continue to intensify efforts to ensure a stable country with a conducive and business-friendly ecosystem, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Govt to continue intensifying measures to ensure nation is stable, business friendly

Members of the public are advised to check the status of any suspicious advertisement tender offer or quotation with the Ministry of Tourism, Arts and Culture (Motac) or the nearest state Motac office before taking action involving financial transactions.

Tourism Ministry reminds people to be wary of advertisement tender offer

Singapore will start construction of a new mega terminal at its Changi Airport in the first half of next year, aiming to lift the aviation hub’s annual passenger handling capacity by another 50 million, the Straits Times reported, citing Prime Minister Lawrence Wong.

Singapore to begin building mega airport terminal in 1H2025, Straits Times says

The Federal Reserve (Fed) and other regulators are poised to unveil sweeping changes to a slate of proposed capital rules for banks as they seek to overcome tough resistance from the industry, according to people familiar to the matter.

US to propose bank capital rule revisions as soon as this month — Bloomberg

Independence Day on Aug 31, 1957, was a defining moment in our national story, when Tunku Abdul Rahman shouted out “Merdeka! Merdeka! Merdeka!” and pronounced “a nation that will stand forthwith free and independent”.

Malaysia has undergone a profound transformation in the 67 years sinc...

Growing Champions: Malaysia’s moment to shine

<p>Recent weeks saw Malaysia Airlines Bhd in the spotlight for multiple reasons — from reroutes to delays due to technical issues, frequency reduction in 13 routes, getting its licence validity period cut short by the regulator, and getting its engineers poached by competitors en masse.</p>


Delays in reinvestment come back to bite Malaysia Airlines

<p>Local investors will be keeping a keen eye on <b>99 Speed Mart Retail Holdings Bhd</b>’s (KL:99SMART) listing on the Main Market on Sept 9, being the largest <b>initial public offering</b> (IPO) on <b>Bursa Malaysia</b> in seven years.</p>


The Week Ahead: 99 Speed Mart listing, China economic data in focus

<p>The Malaysian Communications and Multimedia Commission (MCMC) has instructed internet service providers (ISPs) to redirect Domain Name Service (DNS) traffic that uses third-party DNS servers back to their own DNS servers.</p>


MCMC addresses misinformation on DNS redirection, internet access restrictions

<p>Federal Reserve (Fed) policymakers on Friday signalled they are ready to kick off a series of interest rate cuts at the US central bank's meeting in two weeks, noting a cooling in the labour market that could accelerate into something more dire in the absence of a policy shift.</p>


Fed policymakers say they are ready to start cutting interest rates

<p>Singapore will start construction of a new mega terminal at its Changi Airport in the first half of next year, aiming to lift the aviation hub’s annual passenger handling capacity by another 50 million, the <em>Straits Times</em> reported, citing Prime Minister Lawrence Wong.</p>


<p>The government will continue to intensify efforts to ensure a stable country with a conducive and business-friendly ecosystem, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


<p>Uncertainty over the US economy's health is rippling through markets, adding fuel to an already-volatile period that has investors grappling with a shift in Federal Reserve (Fed) policy, a tight US election and worries over stretched valuations.</p>


Economic worries back on Wall Street's radar after jobs data

<p>His Majesty Sultan Ibrahim, King of Malaysia, on Saturday warned that he will withdraw the federal awards, medals and honours of recipients who commit crimes, tarnish the country’s image or if punished by the courts.</p>


<p>Brazil’s ban of X amid a fight with Elon Musk over disinformation on his prized social-media site offers a cautionary message for other democracies trying to balance freedom of expression with the integrity of information ahead of elections.</p>


Musk dares the world to take on X as he scoffs at Brazil’s ban

<p>The Federal Reserve (Fed) and other regulators are poised to unveil sweeping changes to a slate of proposed capital rules for banks as they seek to overcome tough resistance from the industry, according to people familiar to the matter.</p>


<p>The US said businesses operating in Hong Kong could fall afoul of national security legislation and also faced heightened legal and regulatory risks — including violating US sanctions — in an alert issued by the Biden administration on Friday.</p>


US warns businesses in Hong Kong of heightened legal risks

<p>Members of the public are advised to check the status of any suspicious advertisement tender offer or quotation with the Ministry of Tourism, Arts and Culture (Motac) or the nearest state Motac office before taking action involving financial transactions.</p>


<p>Seven people were injured, with one hospitalised after a plane operated by Singapore Airlines Ltd’s budget carrier Scoot encountered turbulence during a flight from the city state to Guangzhou in China on Friday, the <em>Straits Times</em> reported on Saturday.</p>


<p>A New York judge on Friday delayed former US president Donald Trump's sentencing in his hush money criminal case until after the Nov 5 election, writing that he wants to avoid the unwarranted perception of a political motive.</p>


Trump hush money sentencing delayed until after election

<p>Independence Day on Aug 31, 1957, was a defining moment in our national story, when Tunku Abdul Rahman shouted out “Merdeka! Merdeka! Merdeka!” and pronounced “a nation that will stand forthwith free and independent”.</p>

<p>Malaysia has undergone a profound transformation in the 67 years sinc...

<p>In a period of global uncertainty, Malaysia’s economy is demonstrating remarkable resilience and optimism. Along with the strong Q2 gross domestic product (GDP) of 5.9%, the surge in initial public offerings (IPOs) and strategic investments by government-linked investment companies (GLICs) is a c...

<p>Boeing's Starliner spacecraft landed uncrewed in a New Mexico desert late on Friday, capping a three-month test mission hobbled by technical issues that forced the astronauts it had flown to the International Space Station to remain there until next year.</p>


<p>The Ministry of Communications advises that a social media platform has to have content moderators who can understand various languages, especially local languages other than English.</p>
