Weekly Snapshots

(From left) M&A Securities Sdn Bhd (M&A Securities) head of corporate finance Gary Ting, M&A Securities managing director of corporate finance Datuk Bill Tan, Ocean Vantage Holdings Bhd (Ocean Vantage) managing director Kenny Ronald Ngalin, and Ocean Vantage executive director Stephen Yau during the underwriting agreement on Wednesday. The Sarawak-based oil and gas integrated support services provider has entered into an underwriting agreement with M&A Securities in conjunction with its initial public offering on the ACE Market of Bursa Malaysia Securities Bhd.

MEETING DEMAND: In the month since the World Health Organisation ( WHO) announced a global shortage of Personal Protective Equipment (PPEs), Malaysian manufacturers have boosted production to five million pieces a month for certain types of key PPEs and can ramp up capacity further. According to Malaysian Plastics Manufacturers Association (MPMA) president Datuk Lim Kok Boon, the country has gone from having minimal capacity for both uncoated and coated PPEs to being able to produce over five million pieces in under two months. Malaysia’s manufacturing sector has demonstrated the agility to expand capacity further and adapt in a critical stage.

CONSTRUCTION SOON: Deputy Chief Minister Datuk Amar Douglas Uggah (centre), Dayak Chamber of Commerce (DCCI) president Datuk Joseph Salang Gandum (seated, left), Stephen Mundaw (seated, right) and Dayak Cultural Foundation (DCF) official Allistar Hilton Smith pose for a photo during the cheque presentation from the state government on Wednesday. The construction of the DCCI and DCF office buildings is expected to commence after this year’s Gawai Dayak celebration. The project will be built on a 2.266hectare plot at Jalan Ong Tiang Swee.

BOOST FOR SMES: The Sarawak government exchanged memorandums of agreement (MoAs) with seven banks for the RM1 billion Sarawakku Sayang Assistance Package (BKSS) 2.0 Small, Medium Enterprises (SMEs) Special Relief Fund (SRF). Ministry of International Trade, Industrial Terminal and Entrepreneur Development permanent secretary Datu Liaw Soon Eng (fourth left) is seen exchanging the MoA with Maybank Sarawak regional director Nasir Khan, witnessed Chief Minister Datuk Patinggi Abang Johari Tun Openg (fifth left), Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan (third left) and others.