Sabah & Sarawak
B10 implementation can boost biodiesel output
The implementation of B10 biodiesel in the country can help boost biodiesel production to one million tonnes a year from the current 700,000 tonnes, on the back of better demand from the transport sector, according to an industry player.
Malaysian Biodiesel Association President UR Unnithan said the country would likely see the mandate to use B10 fuel after the forthcoming 2018 general elections.
Zecon to dispose of 49 pct stake in Zecon Medicare
Zecon Bhd (Zecon) plans to dispose of its 49 per cent stake in Zecon Medicare Sdn Bhd to the State Financial Secretary of Sarawak for RM155 million.
In a filing with Bursa Malaysia on Wednesday, Zecon said the proposed disposal would allow monetisation of its investment in Zecon Medicare, while continuing to participate in the future operations of the company via the remaining 51 per cent equity interest.
Sapura Energy’s unit commences production at Sarawak gas field
Sapura Energy Bhd’s whollyowned unit, Sapura Exploration and Production (Sarawak) Inc (Sapura E&P), has commenced production at the B15 gas field in Bintulu, Sarawak.
In a filing to Bursa Malaysia on Thursday, Sapura Energy said the B15 gas field development is a maiden gas development project for Sapura E&P and the first gas milestone was achieved within two years of the sanction of its field development plan.
Ta Ann Holdings to acquire 30.39 per cent stake in Sarawak Plantation
Shareholders of Ta Ann Holdings Berhad ( TAHB) have approved the acquisition of 30.39 per cent stake in Sarawak Plantation Bhd (SPB) for RM169.9 million or RM2 a share. The approval was made at TAHB’s extraordinary general meeting held here on Friday. The acquisition will be financed by bank borrowings as well as internal funds.
2018 a busy year for AEON, retail earnings set to improve
AEON Co (M) Bhd’s (AEON) expansion plan is on track with a new mall expected to be opened this year and another is expected to be completed by next year. Its retail earnings are also expected to improve in the first quarter of 2018 (1Q18), driven by the pre- Chinese New Year festive shopping, analysts observed.