September 19, 2013
From the Star, dateline 2013-07-30:
UMW Oil & Gas Corporation Bhd has received Bursa Malaysia Securities‘ approval to list on the Main Market.
Its joint-principal advisers Maybank Investment Bank Bhd and CIMB Investment Bank Bhd said in a joint statement on TuesdayBursa Securities had, vide its letter dated July 29, approved the listing.
The listing exercise involved the 2.162 billion shares of UMW-O&G at 50 sen each.
Reports speculated the offer price to RM3 per share, raising up to RM3bil for the conglomerate.
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Posted by Wata
September 17, 2013
Ah, Ranhill, what shall we do with thee? Dateline 2013-07-29, Rigzone:
Ranhill Energy and Resources Bhd announced that it has withdrawn an initial public offering (IPO) to raise $236 million (MYR 753 million) on Malaysia’s stock exchange Bursa Malaysia.
This follows the disclosure last week that Malaysia’s national oil and gas firm Petroliam Nasional Bhd (Petronas) has suspended an affiliate’s license following a review of a construction project. The affiliate Perunding Ranhill Worley Sdn Bhd (PRW) cannot bid for any projects from Petronas without the license.
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Posted by Wata
September 15, 2013
Probe sounds so obscene… Dateline 2013-07-25, The Star.
Malaysia’s Securities Commission is reviewing Ranhill Energy and Resources Bhd.’s 753 million ringgit ($235 million) initial public offering and investors who subscribed may be offered their money back.
The regulator ordered the Kuala Lumpur-based energy and water group and its adviser Maybank Investment Bank Bhd. to postpone the listing slated for next week after an affiliate got a suspension notice from state-owned Petroliam Nasional Bhd. Proceeds from the share sale are being safeguarded by two banks and the Malaysian Issuing House Sdn., Ranhill Energy said in a statement yesterday.
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Posted by Wata
September 14, 2013
C’mon, join this scheme, and I won’t have to bug you every year. To quote:
IEM is introducing the FULLY-PAID Membership Scheme with effect from 2013. By subscribing to this
scheme, your membership will be:
- immune to increase in future subscription rates increase
- immune to inflation
- immune to increased rates when you upgrade your membership. You will not need to top up the difference when you move to a higher grade.
- immune to interruption in receiving IEM’s services. The IEM Bylaws state that all privileges due to a member will cease if his subscriptions is not paid by April each year.
For your further information, ROS has approved the new IEM Bylaws where the subscription rates will be
increased by 20% with effect from 1 January 2014.
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Posted by Wata
September 12, 2013
Time for an exit strategy. Dateline 2013-07-26, The Star:
Malaysian Investment Development Authority (Mida) is currently in talks with potential investors in alternative energy, oil and gas and advanced electronics.
Chief executive officer Datuk Noharuddin Nordin said some of these foreign companies were also interested in setting up their operational headquarters or regional service centres in Malaysia.
Speaking to Bernama in Bangkok recently, he said the companies were not only looking at Malaysia but were also considering other countries in the region.
“So, we are in the process of convincing them to decide on Malaysia and, hopefully, they can make the decision within this year,” he said.
Noharuddin said there had been an increasing trend whereby investor interests would gradually come from markets that were not traditional to Malaysia; for example, traditionally investments from Europe would come from the UK and Germany.
“Now we are seeing a lot of interests of companies coming from France and Spain. These are not our traditional sources of investments, which are something very encouraging,” he said.
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Posted by Wata
September 5, 2013
Dateline 2013-07-24, Reuters:
Malaysian oil and gas service firm Ranhill Energy will delay its planned July 31 IPO after state oil firm Petronas suspended the licence of an affiliate company earlier this month, Ranhill said on Thursday.
Ranhill Energy said in a statement Petronas scrapped a licence belonging to affiliate Perunding Ranhill Worley (PRW) from July 17 for an indefinite period. Ranhill said it is appealing the decision.
The licence enables PRW to bid for Malaysian projects awarded by Petronas, which has pledged to spend 300 billion ringgit ($94.38 billion) in capital expenditures between 2011 and 2015.
PRW usually outsources Petronas jobs to Ranhill Energy’s 51 percent owned unit, Ranhill Worley Parsons Sdn Bhd, which contributes a significant portion of its Malaysian revenues. Australia’s WorleyParsons Ltd owns 49 percent of Ranhill Worley Parsons.
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1 Comment | investment, Malaysia, oil and gas | Tagged: Perunding Ranhill Worley, Worley | Permalink
Posted by Wata
September 1, 2013
Dateline 2013-07-23:
Oil and gas (O&G) exploration and production (E&P) company CLIQ Energy Bhd (CEB) has shortlisted five qualifying assets out of 38 proposals for full evaluation, MD and CEO Ahmad Ziyad Elias said.
He said the shortlisted qualifying assets are from Malaysia, Indonesia and Papua New Guinea which will now move to the next stage of evaluation.
“We have already appointed consultants to evaluate the shortlisted qualifying assets, which is a mixture of pre-development assets, assets that need appraisal as well as production assets that have merger and acquisition (M&A) opportunities,” Ahmad Ziyad told reporters after the company’s first AGM in Kuala Lumpur yesterday.
CEB, a special purpose acquisition company (SPAC) which specialises in the acquisition and development of O&G assets located in Asia and Oceania, has been actively focusing on acquiring discovered small- and medium-sized O&G fields with relatively low to moderate risk.
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Posted by Wata
August 30, 2013
Dateline 2013-07-22:
From hauling rigs to delivering toilet paper, firms from Southeast Asia are cornering lucrative niches of the oilfield services market to deliver growth that far outstrips that of much larger global peers.
SapuraKencana Petroleum and Ezion Holdings lead a group of top 20 Malaysia- and Singapore-listed companies that grew assets by 30 percent to $8.4 billion last year, according to Reuters analysis of company data.
Their expertise ranges from laying steel pipes at the bottom of the ocean and moving huge rigs from the South China Sea to the Gulf of Mexico, to delivering provisions for the rig crews.
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3 Comments | investment, Malaysia, oil and gas | Tagged: SapuraKencana | Permalink
Posted by Wata
August 4, 2013
Dateline 2013-07-06:
Sona Petroelum Bhd (Sona Petroleum) yesterday launched its prospectus in conjunction with the company’s listing of and quotation for its entire issued and paid-up ordinary share capital together with warrants on the Main Market of Bursa Malaysia Securities Bhd (Bursa Malaysia).
Sona Petroleum’s initial public offering (IPO) will involve an offering of a total of up to 1.1 billion new ordinary shares of RM0.01 each in Sona Petroleum (public issue shares) together with up to 1.1 billion free detachable warrants attached on the basis of one Warrant to every one public issue share issued, at an issue price of RM0.50 per public issue share.
The company aims to raise up to RM550 million through its IPO. Upon listing, Sona Petroleum is expected to have a market capitalisation of up to approximately RM705.4 million.
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Posted by Wata
June 29, 2013
Now, if the old Sultan of Johor was around…
Dateline 2013-06-05:
The RM60 billion Refinery and Petrochemical Integrated Development (RAPID) project will not be completed on time due to delays by the Johor government, state oil and gas company PETRONAS said today.
The mega project was previously slated to start operations in 2016, but PETRONAS announced today that the date has been pushed to early 2017.
“There has been some delay to state government, which includes housing … There have been delays in moving the Muslim cemeteries,” said PETRONAS president and group CEO Tan Sri Datuk Shamsul Azhar Abbas at a media briefing here.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 