The week at a glance
Ocean Vantage to raise RM21.4 million from IPO
Sarawak- based oil and gas integrated support services provider, Ocean Vantage Holdings Bhd (Ocean Vantage) has just concluded the first- ever fully digital prospectus launch in Malaysia on Tuesday. The digital launch event was held in conjunction with the group’s upcoming listing on the ACE Market of Bursa Malaysia Securities Bhd.
Serba Dinamik’s latest wins a huge boost
Serba Dinamik Holdings Bhd’s ( Serba Dinamik) latest string of new contracts has been viewed positively as a huge boost to its information, communication & technology ( ICT) segment and a testament to its jobs winning capabilities. On Wedne s d ay, Serba Dinamik announced that its subsidiaries secured one engineering, procurement, constructionandcommissioning ( EPCC) contract, two ICT contract, and seven operations & maintenance (O& M) contracts respectively.
Covid- 19 has marginal impact on Labuan’s financial sector
The Covid-19 pandemic has slightly impacted Labuan’s international financial sector as the leasing segment has felt the pinch over the first few months of 2020. Labuan Financial Services Authority (Labuan FSA) directorgeneral Datuk Danial Mah Abdullah said the situation was rather akin to a ‘double whammy’, owing to the uncertainty of the global economic landscape.
‘Weak demand for properties until economy perks up’
Houses will still remain in demand albeit at a lesser level following the Covid-19 dampener, Sarawak Housing and Real Estate Developers’ Association (Sheda) Kuching Branch opines in regards to unsold properties in the market.
According to Sheda Kuching Branch chairman Sim Kiang Chiok, housing is a basic need and there will always be a demand for houses even though it might be less in this transition to economic restoration period.
Sarawak Petrochemical Hub to create 74,000 jobs
The proposed Sarawak Petrochemical Hub in Bintulu is expected to create 74,000 jobs for Sarawakians once fully operational, potentially contributing an additional RM16 billion to RM20 billion per annum to the state’s gross domestic product ( GDP), said Chief Minister Datuk Patinggi Abang Johari Tun Openg on Thursday.