Sabah & Sarawak

Dayang’s proposed dividend a positive development

Dayang Enterprise Holdings Bhd’s proposed dividend-inspecie has been viewed by analysts as a ‘ big positive’ development for the group. Maybank Investment Bank Berhad had announced on behalf of Dayang’s board of directors that the company proposes to distribute up to 292 million shares in Perdana Petroleum Bhd, representing about 37.5 per cent equity interest in Perdana, by way of dividendin-specie to the shareholders of the company.

CMS reports pre-tax profit of RM39 million for 1Q17

Cahya Mata Sarawak Bhd reported a total revenue of RM282.30 million for the first quarter of the financial year 2017, a 19 per cent decrease from preceding year’s corresponding quarter’s revenue of RM346.91 million. This was mainly due to a lower sales volume in the Construction Materials & Trading and Cement Divisions. Furthermore, the Construction and Road Maintenance Division also reported lower revenue due to reduced federal road maintenance work and due to the completion of major projects in 2016.

Titijaya formalises collaboration with China’s CREC for its RM575 million development in Sabah

Titijaya Land Bhd, a Bursa Malaysia Main Market Listed Company involved in property development, has formalised its collaboration with CREC Development (M) Sdn Bhd to collaborate on a property development project known as The Shore in Kota Kinabalu, Sabah, which has a gross development value of RM575 million.

Bintulu Port, Petronas offers gassing up cooling down services

Bintulu Port Sdn Bhd, a subsidiary of Bintulu Port Holdings Bhd, signed a non-binding Memorandum of Understanding with Petronas LNG Sdn Bhd, a subsidiary of Petroliam Nasional Bhd to collaborate in exploring potential business opportunities and value added services including offering Gassing Up Cooling Down services to other LNG vessel operators at the Bintulu Port in a bid to generate more revenue.

KKB eyes more O&G, engineering jobs as earnings remain resilient

KKB Engineering Bhd (KKB) aims to focus on key areas of its business such as its engineering and manufacturing as well as oil and gas (O&G) sectors to remain resilient amidst the current challenging environment. It also looks to expand its business into the power and energy sector as it believes Sarawak holds great potential in the industry.

Sarawak sees small number of GST appeal cases as awareness grows

The number of Goods and Services Tax (GST) appeal cases filed by Sarawakian companies is small thanks to the growing awareness amongst businesses and companies on its legislation and system. Although the GST Appeal Tribunal did not announce an official number for the state, it noted that the number of cases from the state is small compared to a nationwide consensus whereby the number of appeal cases decreased from 588 in 2015 to 663 in 2016.