<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on November 6, 2019 - November 12, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Velesto Energy Bhd said its unit has bagged a contract worth US$131 million (RM541.17 million) from Carigali Hess Operating Company Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>Carigali Hess, an oil and gas joint venture between PCJDA Ltd and Hess Oil Company of Thailand Ltd, is involved in gas production in the joint development area administered by the Malaysian-Thailand Joint Authority.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Velesto said in an exchange filing yesterday that the contract, awarded to its indirect wholly-owned unit Velesto Drilling Sdn Bhd, is for the provision of a 10K jack-up drilling rig.</p></div>

<div class=newsTextDataWrapInner><p>The contract will commence in the second half of 2020 for a duration of three years, with three extension options of six months each.</p></div>

<div class=newsTextDataWrapInner><p>Velesto said its Naga 8 premium independent-leg cantilever jack-up rig will be used. It has a drilling depth capability of 30,000ft (9.14km) and a rated operating water depth of 400ft.</p></div>

<div class=newsTextDataWrapInner><p>Velesto said the provision of the services is expected to contribute positively to its earnings and net assets during the contract period for the financial period ending Dec 31, 2020.</p></div>

<div class=newsTextDataWrapInner><p>The stock closed unchanged yesterday at 36 sen after 75.49 million shares changed hands, valuing it at RM2.96 billion.</p></div>


KUALA LUMPUR: Velesto Energy Bhd said its unit has bagged a contract worth US$131 million (RM541.17 million) from Carigali Hess Operating Company Sdn Bhd.

Carigali Hess, an oil and gas joint venture between PCJDA Ltd and Hess Oil Company of Thailand Ltd, is involved in gas production in...

Velesto bags RM541m Carigali Hess contract

AirAsia has become the first international airline to operate commercial flights to Port Blair (Sri Vijaya Puram) in India's Andaman and Nicobar Islands.

AirAsia lands in Port Blair in the Andamans

Inmates placed under the house arrest will wear monitoring devices to track their locations after the Bill is passed in Parliament, Home Minister Datuk Seri Saifuddin Nasution Ismail.

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Tropicana Corporation Bhd (KL:TROP) has previewed the Skypark Kepler branded residence at Hilton Orchard, Singapore on Saturday. The branded serviced residence is the first phase of Tropicana’s 163-acre Lido Waterfront Boulevard mixed-use development in Johor.

Tropicana previews Skypark Kepler branded residence, Johor in Singapore

The investigation involving FashionValet Sdn Bhd founding couple over the investment loss of Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) is expected to be completed in two weeks.

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The Philippines evacuated tens of thousands of people from their homes and cancelled dozens of flights on Saturday, as a super typhoon threatened to unleash heavy rains and powerful winds that could trigger floods and storm surges.

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The Bandar Teknologi Maju Perlis project in Chuping, set to begin next year, is expected to create around 2,000 direct job opportunities in technology fields.

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China’s President Xi Jinping wants a “powerful currency” that is stable enough to play a rising role in global trade. Donald Trump’s return looks set to challenge that ambition.

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Seven flood mitigation projects (RTB) are currently underway in Melaka, involving a total allocation of RM1.006 billion, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

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SHANGHAI (Nov 16): China is willing to be partners and friends with the US, China's ambassador to Washington said, seeking to strengthen dialogue between the world's two largest economies.

China has no plan to surpass or replace the US, Xie Feng said in a speech in Hong Kong on Friday, ...

China willing to be partners, friends with US, Chinese envoy says

Bill Hwang, the founder of Archegos Capital Management, should spend 21 years in prison for running a market manipulation scheme that wiped out his US$36 billion (RM161.06 billion) firm and cost its lenders more than US$10 billion, federal prosecutors said on Friday.

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<p>Over the past two weeks, oil and gas (O&amp;G) players publicly traded on Bursa Malaysia have been announcing awards from Petronas and its production sharing contract partners, for maintenance, construction and modification (MCM) as well as hook-up commissioning (HUC) services.</p>


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<p>Wall Street's main indexes closed lower on Friday, with the S&amp;P 500 and Nasdaq notching their biggest one-day losses in two weeks, on concerns about slower interest-rate cuts and as investors reacted to cabinet picks by US President-elect Donald Trump.</p>


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<p>The key focus at home this week is the <b>October trade and inflation data</b>, expected to be released aby the Department of Statistics Malaysia on Nov 19 and 22 respectively.</p>


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<p>Sarawak is well-positioned to benefit from the global transition towards making hydrogen as a key fuel, with a legal framework in place to manage its environment while optimising the economic value of its natural resources.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim insisted that Malaysia remains consistent with its stance on the issue of Israel and Palestine, emphasising that Putrajaya has never diplomatically recognised the existence of the state of Israel.</p>


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<p>The investigation involving FashionValet Sdn Bhd founding couple over the investment loss of Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) is expected to be completed in two weeks.</p>


<p>Bill Hwang, the founder of Archegos Capital Management, should spend 21 years in prison for running a market manipulation scheme that wiped out his US$36 billion (RM161.06 billion) firm and cost its lenders more than US$10 billion, federal prosecutors said on Friday.</p>


<p>China’s President Xi Jinping wants a “powerful currency” that is stable enough to play a rising role in global trade. Donald Trump’s return looks set to challenge that ambition.</p>


<p>Prime Minister Datuk Seri Anwar Ibrahim's maiden official visit to Peru has generated potential exports worth RM1.24 billion (US$0.3 billion), particularly in high potential sectors on the initiative of the Malaysia External Trade Development Corporation (Matrade).</p>


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<p>The Malaysian Communications and Multimedia Commission (MCMC) and the Malaysian Palm Oil Board (MPOB) have announced a significant achievement in their strategic collaboration, marked by the successful resolution of connectivity challenges within palm oil plantations and culminating in the AgriNXT: Oil Palm Chapter (OPC) initiative.</p>


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<p>Nvidia Corp's results in the coming week could guide the US stock market on its next path, as investors turn their focus to the technology sector and artificial intelligence trade after an election-fueled rally stalled.</p>


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<p>Tropicana Corporation Bhd (KL:TROP) has previewed the Skypark Kepler branded residence at Hilton Orchard, Singapore on Saturday. The branded serviced residence is the first phase of Tropicana’s 163-acre Lido Waterfront Boulevard mixed-use development in Johor.</p>


<p>AirAsia has become the first international airline to operate commercial flights to Port Blair (Sri Vijaya Puram) in India's Andaman and Nicobar Islands.</p>


<p>The conventional wisdom following Israel’s recent strikes on Iranian military facilities in retaliation for Iran’s ballistic missile attack on Israel is that the risk of further escalation has been contained. Initial statements from the Islamic Republic’s supreme leader suggested that Iran may no...

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<p>China and the European Union have reached “technical consensus” in their talks aimed at scaling back or reversing tariffs that the bloc applied to China-made electric vehicles (EVs), according to a posting on a Weibo account affiliated with the state-run <em>China Central Television</em> (<em>CCTV</em>).</p>


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<p>A group representing major electric vehicle (EV) and battery manufacturers on Friday urged President-elect Donald Trump not to kill tax credits for electric vehicle sales and production, citing the impact on key states that voted for the Republican.</p>


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<p>The Bandar Teknologi Maju Perlis project in Chuping, set to begin next year, is expected to create around 2,000 direct job opportunities in technology fields.</p>


<p>Malaysia and the Republic of Guinea should intensify their engagement, particularly in market access and technical assistance, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.</p>


Malaysia, Guinea should enhance engagement in technical assistance, says Liew

<p>The Philippines evacuated tens of thousands of people from their homes and cancelled dozens of flights on Saturday, as a super typhoon threatened to unleash heavy rains and powerful winds that could trigger floods and storm surges.</p>
