Sabah & Sarawak

Govt finalising Phase Two of Pan Borneo Highway Sarawak

The federal government is finalising the development of the second phase of the Pan Borneo Highway Sarawak. Phase Two – which connects Limbang and Lawas through Brunei and eventually links to Sabah – is being firmed up by the Malaysian government and the Brunei government. Works Minister Datuk Seri Fadillah Yusof revealed that the government is committed to develop the Pan Borneo Highway Sarawak and ensure that the mega-infrastructure project is completed on time. Harbour-Link to have challenging outlook amid East Malaysia’s slowing economic activities

Harbour- Link Group Bhd ( Harbour- Link) will have a challenging outlook, analysts say, due to the slowing economic activities in East Malaysia and persistent poor property market conditions. For Harbour-Link’s engineering division, despite the group having replenished their engineering order-book by RM25 million in 1Q17, the research arm of Kenanga Investment Bank Bhd viewed that management will not be able to match last year’s performance because of the scaled- down capital expenditures for oil and gas companies. Iran positive on Malaysia’s request for palm oil import duty cut

Iran’s Ministry of Agriculture has hinted positively that Malaysia had the chance for a better differential import duty for palm oil. Malaysia is negotiating a further reduction of duty on palm oil on existing tariff lines under a free trade agreement. Repsol Oil & Gas Malaysia to invest RM600 mln in oil platform and drilling well projects

Repsol Oil and Gas Malaysia Ltd is investing about RM600 million for the construction of two oil platforms and in drilling several wells. The platforms are to be constructed at Peninsular Malaysia 3 (PM3) near the border with Vietnam and at Medan Kinabalu off Sabah waters. The company’s Communication, Government Relations and Community Senior General Manager Farid Jaafar said the project will commence at year-end and early next year respectively. Petronas to invest RM18 mln on three CSI programmes in Sabah

Petroliam Nasional Bhd (Petronas) will invest about RM18 million over the next four years to implement three of its corporate social investment (CSI) initiatives in Sabah. Petronas said the programmes launched were Planting Tomorrow, Food Basket and Youth Development. Malaysia’s January palm oil stocks down 7.55 pct to 1.54 mln tonnes

Malaysia’s total palm oil stocks in January 2017 slipped 7.55 per cent to 1.54 million tonnes against 1.67 million tonnes in December last year. The Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stocks fell by 10.63 per cent to 783,844 tonnes in January from 877,082 in the previous month.