<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 11): SapuraKencana Petroleum Bhd said its Berantai risk service contract (RSC) from Petroliam Nasional Bhd (Petronas) would ceased this September following a mutual agreement between the RSC owners and Petronas.</p></div>

<div class=newsTextDataWrapInner><p>In a statement to Bursa Malaysia today, SapuraKencana said the RSC was intended for crude oil production from the Berantai field, located offshore Peninsular Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>SapuraKencana said its wholly-owned subsidiaries Sapura Energy Ventures Sdn Bhd and Kencana Energy Sdn Bhd own 25% each in the RSC. Joint-venture partner Petrofac Energy Developments Sdn Bhd holds the remaining 50% in the RSC.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"With the cessation of the RSC, which will be effective on Sept 30, 2016, Petronas will reimburse all outstanding capital and operational expenditures to the contractors by June 2017.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>"As part of the arrangement, the ownership of Berantai FPSO (floating production, storage and offloading) will be transferred to Petronas," SapuraKencana said.</p></div>

<div class=newsTextDataWrapInner><p>According to SapuraKencana, the RSC owners had signed the Berantai contract with Petronas on Jan 31, 2011.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>At 12.30pm today, SapuraKencana shares rose one sen or 0.7% to settle at RM1.40 for a market capitalisation of RM8.39 billion. The stock saw some three million shares transacted.</p></div>


KUALA LUMPUR (July 11): SapuraKencana Petroleum Bhd said its Berantai risk service contract (RSC) from Petroliam Nasional Bhd (Petronas) would ceased this September following a mutual agreement between the RSC owners and Petronas.

In a statement to Bursa Malaysia today, SapuraKencana sa...

SapuraKencana says Berantai contract with Petronas to cease this September

The reopening of the Danish embassy in Malaysia marks a pivotal milestone in the bilateral relations between the two nations, especially as Malaysia gears up to chair Asean in 2025, said Denmark’s Minister of Foreign Affairs, Lars Løkke Rasmussen.

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Kelantan has fully recovered from the floods on Wednesday night, while in Terengganu, the number of evacuees continued to drop.

In Kelantan, Gua Musang Social Welfare officer Bun Tham Eh Gin said the last relief centre (PPS) at Sekolah Kebangsaan (SK) Limau Kasturi 1, which housed 41 people, was closed at 5pm, indicating that the state has fully recovered from the second wave of floods that struck on Monday.

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Donald Trump is slated to ring the New York Stock Exchange’s (NYSE) opening bell on Thursday, presenting a president-elect who has vowed to rejuvenate the US economy a celebratory photo opportunity at an iconic symbol of American capitalism.

Trump scheduled to ring NYSE’s opening bell on Thursday

Luxury real estate brokers Oren and Tal Alexander and their brother Alon were arrested and charged with sex-trafficking by federal prosecutors in New York on Wednesday.

According to the indictment, the three brothers worked together for “well over a decade” to “drug, sexually assault and rape dozens of victims”.

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Wall Street's main indices rose on Wednesday after an in-line inflation reading kept intact bets on the Federal Reserve cutting interest rates later this month.

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President Vladimir Putin said on Wednesday that Russia would develop artificial intelligence with BRICS partners and other countries, in a bid to challenge the dominance of the United States in one of the most promising and crucial technologies of the 21st century.

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Russia said on Wednesday that Ukraine had struck a military airfield on the Azov Sea with six US-made ATACMS ballistic missiles, a move that could prompt Moscow to launch another experimental intermediate-range hypersonic missile at Ukraine.

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Solid Automotive Bhd (KL:SOLID) said it is acquiring 4.69 acres of freehold land in Klang from Top Glove Corp Bhd (KL:TOPGLOV) for RM15.92 million.

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The Communications and Multimedia (Amendment) Bill 2024, a topic of significant debate, was passed by the lower house of Parliament on Monday.

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Here is a brief recap of some business news and corporate announcement that made the headlines on Wednesday.

Axiata, Astro, Eco World International, Privasia Technology, MyEG, Petron Malaysia, AE Multi

<p>KUALA LUMPUR (Dec 11): Shares of hospital operators fell on Wednesday, after the government announced that it would speed up the implementation of standardised prices for private healthcare early next year.</p>


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<p>Singapore Technologies Telemedia Pte Ltd (ST Telemedia) said financial instruments will form part of its sale of "a majority stake" in U Mobile Sdn Bhd to a company owned by tycoon Tan Sri Vincent Tan Chee Yioun and Johor princess Tunku Tun Aminah Sultan Ibrahim.</p>


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<p>Mara Inc and ACE Market-listed Privasia Technology Bhd (KL:PRIVA) are teaming up to develop and operate a data centre in Bagan Datuk, Perak.</p>


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<p>LONDON/HONG KONG (Dec 11):&nbsp;Things are going from bad to worse for London’s IPO market, where less money has been raised this year than on some tiny frontier venues.</p>


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<p>Sarawak Premier Tan Sri Abang Johari Tun Openg declined to comment further on the resolution formula relating to the gas distribution issue involving Petroleum Sarawak Bhd (Petros) and Petroliam Nasional Bhd&nbsp;(Petronas), which he disclosed on Tuesday.</p>


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<p>TP TEC Holding Bhd (KL:TPTEC) made its debut on the LEAP Market on Wednesday, opening at 13 sen per share, representing a 30% premium to its reference price of 10 sen.</p>


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<p>MyEG Services Bhd’s (KL:MYEG) Zetrix blockchain platform and Astron-Xinghuo BIF have partnered to offer Chinese nationals and business entities digital identification cards and business registration services for verification outside of China.</p>


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<p>Here is a brief recap of some business news and corporate announcement that made the headlines on Wednesday.</p>


<p>Astro Malaysia Holdings Bhd (KL:ASTRO) made a net profit of RM46.94 million for its third quarter ended Oct 31, 2024 (3QFY2025) — its fourth consecutive quarter in the black, as opposed to a net loss of RM47.05 million incurred in 3QFY2024.</p>


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<p>The diagnosis-related group (DRG) pricing&nbsp;system to regulate private hospital bills is expected to be rolled out by the second quarter of 2025, Health Minister Datuk Seri Dr Dzulkefly Ahmad said on Wednesday, noting that the Private Healthcare Facilities &amp; Services Act 1998 must first be amended.</p>


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<p>Here’s a quick look at some of the stories that made headlines today.</p>


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<p>After two months of maintenance shutdown, Petron Malaysia Refining &amp; Marketing Bhd (KL:PETRONM) announced on Wednesday that its Port Dickson refinery has resumed operations in full.</p>


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<p>Oversea-Chinese Banking Corp, Singapore’s second-largest lender, told some international clients to show proof of residence in the city state to avoid having their accounts shut, a signal of heightened scrutiny in the wake of a spate of money-laundering cases.</p>


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<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday.</p>


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<p>The Ministry of Energy Transition and Water Transformation (Petra) sees electricity supply demand for data centres increasing to 20.9 gigawatts (GW) by 2040.</p>

<p>Deputy Minister Akmal Nasrullah Mohd Nasir said the estimate was&nbsp;obtained from&nbsp;the Planning, Implementation and Electricity Supply and Tariff Committee Meeting, which also projected electricity supply demand for data centres to be around 7.7GW in 2030.</p>


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<p>Prawn farmer and processor Camaroe Bhd is seeking a listing on the ACE Market of Bursa Malaysia via an initial public offering (IPO) to raise fresh capital for capacity expansion and setting up a biotechnology department.</p>

<p>The proposed IPO includes a public issuance of 99 million new shares at a price to be determined later, according to the draft prospectus filed with the stock exchange on Wednesday.</p>


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<p>The Penang Mutiara Light Rail Transit (LRT) project is unlikely to be cancelled, even if there is a change in the federal government.</p>

<p>Economy Minister Mohd Rafizi Ramli said the federal government had already made all key decisions, and the necessary processes are in place to ensure the tenders can be awarded promptly.</p>


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<p>The Dewan Rakyat approved the Online Safety Bill 2024 in a bloc vote following a request from the Opposition.</p>
