July 3, 2014
Have you ever read the definition of a shell company?
Dateline 2014-05-12, Reuters:
Malaysia’s Reach Energy Bhd, a special-purpose acquisition company (SPAC) with no existing assets, plans to list shares on the local bourse in a deal to fetch 750 million ringgit ($232 million), according to a draft prospectus published on Monday.
The deal, which is expected in July this year, could mark Malaysia’s largest listing by a shell company with no assets. A SPAC is set up with the intention of buying firms that will be later folded into the business.
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Posted by Wata
June 20, 2014
Start investing. Can someone give me a soft loan?
Dateline 2014-04-28, The Star:
Norway-based Norges, one of the largest foreign funds investing in Malaysian equities, has been nibbling small to mid cap stocks that offer exciting upside here.
It has taken up small stakes in 53 Bursa Malaysia-listed companies, with total investments of around RM1.7bil, according to a fund manager.
Norges has a market value of 5,038 billion kroner (RM2.73 trillion) as of end-2013.
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Posted by Wata
June 8, 2014
I want over reliance. Which foo’ is talking? Dateline 2014-04-18, Borneo Post.
Analysts observed that there is no over-reliance by local oil and gas (O&G) firms on national O&G corp Petroliam Nasional Bhd (Petronas) for contract handouts.
To note, contract flows for Bursa Malaysia-listed oil and gas (O&G) service providers remains stable this year at RM13 billion, which is 19 per cent higher compared with the Jan-April period in 2013, says analyst Aaron Tan of the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research).
“We note that only a relatively small portion (6.2 per cent) of jobs awarded this year had emanated from Petronas, with majority coming from international O&G firms.
“This proves that there is no over-reliance of local O&G firms on Petronas for contract handouts. Main beneficiaries in March to April 2014 were Bumi Armada Bhd (Bumi Armada), SapuraKencana Petroleum Bhd (SapuraKencana), UMW Oil & Gas Corporation Bhd, Uzma Bhd, Perdana Petroleum Bhd, Handal Resources Bhd and Barakah Offshore Petroleum Bhd.
“In light of this, companies’ orderbooks have grown substantially.”
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Posted by Wata
June 7, 2014
PetroJ? JetPetrol? JCP? Can you get more MRSM Muar alumni into this deal?
Dateline 2014-04-18, Malaysia Chronicle:
Johor Corporation (JCorp), which expects to list its oil and gas unit E.A. Technique (M) Bhd by the third quarter of this year, expects to make oil and gas its core business by 2017, according to its president and CEO Datuk Kamaruzzaman Abu Kassim (pix).
“We have to build our foundation first, hopefully by 2016 or 2017, it (oil and gas business) will become our core business,” he told a press conference here yesterday in conjunction with the launch of its 2013 annual report.
“Now we’re providing liquid jetty services and developing for marine support activities at our Tanjung Langsat port and industrial complex, which could complement the Pengerang Terminal project.
“As long as Petronas continues with its investment, the state has a role to make sure the development of the area will be according to the plan,” Kamaruzzaman added.
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Posted by Wata
May 18, 2014
Dateline 2014-04-03, Business Week:
Petroliam Nasional Bhd., Malaysia’s state oil and gas company, will proceed with a plan to invest in a $27 billion refining and petrochemicals project in the southern Johor state bordering Singapore.
The proposed Pengerang Integrated Complex will comprise of a refinery and petrochemical development and other associated facilities, the company known as Petronas said in a statement today after its board approved the investment decision. The project is poised for its refinery startup by early 2019, it said.
Today’s decision may help a push by Malaysia to turn the fishing town of Pengerang into an oil and gas hub. It comes after Taiwan’s Kuokuang Petrochemical Technology Co. in December ended a plan to build a $12 billion petrochemicals project in the same area.
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Posted by Wata
May 9, 2014
I ask you, the little guys are asked to cut cost, the middleman sell fish at the same or inflated price.
Bernama, dateline 2014-04-08:
Malaysia’s oil and gas (O&G) industry must look at the cost structure to be more competitive amid a challenging landscape that involves deepwater exploration and enhanced oil recovery (EOR), said Shell Malaysia Chairman Iain Lo.
“The current cost structure is too high. It’s related to how the industry does things faster, better and cheaper.
“We have to look at ways to get the cost structure down,” he said.
A competitive cost structure would attract more companies in accessing the remaining reserves such as those in marginal fields or EOR, he told reporters after his presentation at a panel session titled “Malaysia as an Upstream Investment Destination” here today.
The session was held in conjunction with the four-day Offshore Technology Conference Asia 2014, which ended today.
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Posted by Wata
May 3, 2014
Show us the money!
Malay Mail, dateline 2014-03-25:
The capital expenditure in Malaysia’s oil and gas sector’s upstream business is forecast to near US$60 billion (about RM198 billion) over the next five years, Prime Minister Datuk Seri Najib Tun Razak said today.
He said the amount contributed significantly to the total upstream spending in South East Asia, which was expected to receive one-fifth of the global upstream spending in the next decade.
“While global upstream spending in the oil and gas sector is expected to remain set at around US$700 billion (about RM2.31 trillion) over the next decade, close to 20 per cent of this spending will be here in South East Asia,” said Najib, who is also the Finance Minister, at the opening of the inaugural Offshore Technology Conference Asia 2014.
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Posted by Wata
April 25, 2014
Here’s me stirring up the market.
Dateline 2014-04-19, Business Times:
Maybank Research maintains OVERWEIGHT rating on oil & gas (O&G) sector with top buys including Bumi Armada, Dialog, SapuraKencana Petroleum (SAKP), Perisai and Perdana.
It noted that interest is wide ranging but most funds tend to be bottom-up driven and stock-selective, seeing strong thematics such as rig building, drilling, OSV upcycles, Petronas capex driving the sector this year.
‘We met up with UK, Hong Kong and US funds during our marketing roadshows in February and March. The interest was across the board ranging from big-caps to small-caps depending on the fund mandate. Funds that have been less Malaysia centric continue to find it challenging to invest in the Malaysian Oil & Gas (O&G) stocks due to their premium valuations relative to the region.
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Leave a Comment » | investment, Malaysia | Tagged: Bumi Armada, Dialog, Perdana, Perisai, SapuraKencana | Permalink
Posted by Wata
April 17, 2014
Enigma is right. Who?
Dateline 2014-03-14, The Star:
Gas Malaysia Bhd and MMC Corporation Bhd‘s unit Enigma Harmoni Sdn Bhd have agreed on the terms for the gas distribution pipeline project.
According to Gas Malaysia on Friday, the terms included the construction of the pipeline and other works for the supply of natural gas to Enigma Harmoni.
Enigma Harmoni is a unit of Senai Airport Terminal Services Sdn Bhd, which in turn is a unit of MMC. MMC also holds 30.93% of Gas Malaysia.
The estimated infrastructure cost is RM4.40mil. The project is slated for completion by Nov 30 this year.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 