<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 12): Petra Energy Bhd (KL:<a href="/askedge/klse/5133" class="ce-stock" target="_blank">PENERGY</a>) has secured a letter of award (LOA) from Petroliam Nasional Bhd (Petronas) in relation to the Banang Late Life Asset Production Sharing Contract (PSC) for a 10-year period until June 2034.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Wednesday, Petra Energy said the LOA was given to its unit Petra Energy Development Sdn Bhd (PEDSB), and that there was no fixed value stated in the letter of award.</p></div>

<div class=newsTextDataWrapInner><p>It said the duration of the contract is for the period of 10 years from June 1, 2024, until June 1, 2034.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On the rationale for the award, the company said that PEDSB is in a good position to undertake this PSC.</p></div>

<div class=newsTextDataWrapInner><p>“The recent award of the PSC represents PEDSB’s strategic progression into an upstream PSC Operator, reinforcing our commitment and growing capabilities within the field.</p></div>

<div class=newsTextDataWrapInner><p>“The award of the Banang Late Life Asset PSC augments PEDBS’s operatorship portfolio.</p></div>

<div class=newsTextDataWrapInner><p>“PEDSB is also the operator of Block SK433, onshore Miri, Sarawak, with Petroleum Sarawak (Petros), which the company was awarded in July 2021,” said Petra Energy.</p></div>

<div class=newsTextDataWrapInner><p>The company said the award is expected to contribute positively to its earnings for the duration of the contract.</p></div>

<div class=newsTextDataWrapInner><p>At midday break on Wednesday, Petra Energy gained 0.70% or one sen to RM1.44, with 254,500 shares traded.</p></div>


KUALA LUMPUR (June 12): Petra Energy Bhd (KL:PENERGY) has secured a letter of award (LOA) from Petroliam Nasional Bhd (Petronas) in relation to the Banang Late Life Asset Production Sharing Contract (PSC) for a 10-year period until June 2034.

Petra Energy gets LOA from Petronas for Banang Late Life Asset PSC

KUALA LUMPUR (Nov 21): Human Resources Minister Steven Sim has confirmed that the chief executive officer of Human Resources Development Corporation (HRD Corp), Datuk Shahul Hameed Dawood, has returned to work.

According to Sim, Shahul had been on administrative leave since July 18 to a...

Sim confirms HRD Corp CEO has returned to work despite ongoing MACC probe on agency

Palm oil producer Far East Holdings Bhd (KL:FAREAST) has declared a special dividend of seven sen per share, payable on Dec 23, as it logged its best quarterly net profit in more than two years, boosted by higher production coupled with higher crude palm oil (CPO) and palm kernel (PK) prices.

Far East declares special dividend of seven sen after logging best quarterly profit in over two years  

The Energy Efficiency and Conservation Act (EECA), which was passed in Dewan Rakyat on June 25, has received the royal assent from the Yang di-Pertuan Agong on Nov 14 and will be in force from Jan 1 next year, Energy Commission of Malaysia assistant director Raja Mohd Fadhil revealed at the GRESB Regional Insights 2024 on Thursday.

Energy Efficiency and Conservation Act to be in force from Jan 1 next year

KUALA LUMPUR (Nov 21): Malaysia’s central bank made two unusual changes to the government bond auction calendar by rescheduling a tender set for this month, and scrapping another pencilled in for December.

BNM reschedules govt bond auction, scraps one issue in unusual move

Sunway Construction Group Bhd (KL:SUNCON) posted a 32.71% jump in its net profit for its third quarter on the accelerated progress of its data centre projects.

Net profit for the third quarter ended Sept 30, 2024 (3QFY2024) rose to RM46.47 million from RM35.01 million in 3QFY2023, as revenue rose 28.48% to RM865.33 million from RM673.51 million, its Thursday bourse filing showed.

SunCon's 3Q profit jumps 32.71% on accelerated data centre progress

Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that about 70% to 80% of the costs of his official trips to five countries over the past two weeks were paid by private companies.

Private firms paid up to 80% of costs for recent official trips abroad, Anwar tells Dewan Rakyat

Sugar producer MSM Malaysia Holdings Bhd (KL:MSM) continued to record losses for the second consecutive quarter, after the group reported a RM49.75 million net loss for the third quarter ended Sept 30, 2024 (3QFY2024).

MSM Malaysia continues to bleed for the second consecutive quarter

Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced on Thursday that it had received RM69.6 million as compensation for the land.

The sum was received from the Home Affairs Ministry, which is force-buying the plot from DFIL's wholly-owned Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd, on Monday (Nov 18).  DFIL itself is 75.53% owned by Atlan.

Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

After two years, property developer Maxim Global Bhd (KL:MAXIM) has decided not to pursue further action against the revocation of plantation concession licences issued by Indonesia's Ministry of Environment and Forestry in January 2022 in relation to assets owned by its 90%-owned subsidiaries — PT Trimegah Karya Utama (PT TKU) and PT Manunggal Sukses Mandiri (PT MSM) — in Papua, Indonesia.

Maxim Global gives up plantation concession permits in Indonesia

Convenience store chain operator 7-Eleven Malaysia Holdings Bhd (KL:SEM) said on Thursday its net profit fell 24% in the third quarter from a year earlier as operating expenses grew faster than revenue.

Net profit for the three months ended Sept 30, 2024 (3QFY2024) was RM10.93 million, according to an exchange filing. Operating expenses rose 8.6% from store and logistics costs due to longer hours and expanded workforce with new outlets. Revenue for the quarter rose 5.5% to RM744.05 million.

7-Eleven 3Q net profit down 24% as expenses rise faster than revenue, expects better 4Q

<p>(Nov 21):&nbsp;Dyson Ltd&nbsp;is dialling back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.</p>


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<p>Petronas Chemicals Group Bhd (KL:PCHEM) may be in for tougher days ahead following a massive paper loss that sent the company into the red for the first time ever and prompted analysts to cut their forecasts.</p>


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<p>Indian billionaire Gautam Adani has been indicted by US prosecutors for his alleged role in a US$265 million scheme to bribe Indian officials, plunging his conglomerate deep into crisis for the second time in two years.</p>


Indian tycoon Adani charged in US over US$265m bribery scheme, dismisses allegations as ‘baseless’ 

<p>IOI Properties Group Bhd (KL:IOIPG) has officially relaunched the Putrajaya Marriott Hotel in IOI Resort City last week after completing a RM100 million renovation.</p>

<p>Sitting on 6.5 acres of land, the five-star Putrajaya Marriott Hotel is managed by IOI Properties and comprises 487 guest rooms, including 35 exclusive suites. The renovations took place from Feb 2023 till Nov 2024 and were carried out in phases. The massive undertaking focused on the refitting and renewal of its guest rooms, lobby, restaurants and private villa.</p>


IOI Properties relaunches Putrajaya Marriott Hotel after RM100m renovation

<p>KUALA LUMPUR (Nov 21): Malaysia’s central bank made two unusual changes to the government bond auction calendar by rescheduling a tender set for this month, and scrapping another pencilled in for December.</p>


<p>Nvidia forecast its slowest revenue growth in seven quarters on Wednesday, failing to meet lofty expectations of some investors who have made it the world's most valuable firm.</p>


Nvidia's AI chip demand still booming but slowing sales growth worries investors

<p>KUALA LUMPUR (Nov 21): Shares of RCE Capital Bhd (KL:RCECAP) fell on Thursday after the company, which mainly provides financing to civil servants, reported weaker than expected quarterly results.</p>


RCE Capital shares fall on Thursday after weaker than expected results

<p>Starbucks Corp is exploring options for its Chinese operations including the possibility of selling a stake in the business, according to people with knowledge of the matter.</p>


Starbucks said to consider selling stake in Chinese business

<p>KUALA LUMPUR (Nov 21): Mah Sing Group Bhd (KL:MAHSING) has unveiled the sales gallery of its RM850-million M Aspira serviced-apartment project in Taman Desa, Kuala Lumpur on Wednesday (Nov 20).&nbsp;</p>


Mah Sing unveils M Aspira sales gallery in Taman Desa

<p>Starbucks Corp reduced its US retail workforce by 8% in its most recent fiscal year, even as the coffee chain added hundreds of new locations.&nbsp;</p>


Starbucks shrank retail staff 8% despite hundreds of new stores

<p>China's Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to US restrictions, said two people familiar with the matter.</p>


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<p>PARAMARIBO (Nov 20): Suriname's state-run oil company Staatsolie said on Wednesday that US oil giant ExxonMobil has withdrawn from its offshore block 52, and block operator Petronas Suriname E&amp;P will take over its 50% stake.</p>


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<p>Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.</p>


Sime Darby Property seeks more assets generating recurring income

<p>Sime Darby Property Bhd (KL:SIMEPROP) is working urgently with authorities to help resolve the recurring flood incidents in Bandar Bukit Raja, said managing director Datuk Seri Azmir Merican.</p>


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<p>Shares of Adani Group companies lost about US$28 billion (RM125.3 billion) in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.</p>


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<p>Northern Solar Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.</p>

<p>The solar energy firm said its IPO scheduled to take place in February 2025, entails a public issue of 67.3 million new shares and the sale of 35.6 million existing shares.</p>

<p>All in all, the listing would offer investors up to a 26% stake in the company.</p>


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<p>The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).</p>


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<p>The Biden administration told Congress it plans to cancel US$4.65 billion (RM20.8 billion) in debt owed by Ukraine, according to a letter obtained by <em>Bloomberg</em> News, the latest in a series of moves meant to bolster support for Kyiv before President-elect Donald Trump takes office.</p>


Biden administration seeks to cancel US$4.6b of Ukraine’s debt

<p>Bitcoin hit US$95,000 (RM425,030) for the first time as the digital-asset sector moves to cement its influence with Donald Trump by pushing for a new White House post dedicated to cryptocurrency policy.</p>


Bitcoin climbs closer to US$100,000 on Trump’s support for crypto

<p>KUALA LUMPUR (Nov 21): E-services provider MyEG Services Bhd’s (KL:MYEG) earnings are expected to continue to be boosted by contributions from its Zetrix-related applications, prompting an earnings upgrade from at least one analyst.&nbsp;</p>
