Reach Energy plans Malaysia’s largest shell company listing

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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IEM Shout Out – Talk on Introduction to Explosives in Industry

July 2, 2014

This is a shout out for the IEM. My Technical Division will be having a talk on Saturday 12th July, 2014 by Ir. Hj. Look Keman. It’ll be at 9:00am (makan-makan at 8.30am) at Wisma IEM. Due to the topic, I expect a lot of our friendly law enforcement and massive camera presence

 

Explosives is actually an essential part of our modern life. It is used to break rock in Quarries so that we can get aggregates for our roads, airport, housing and building construction, port, bridges and used in countless projects. With use of explosives we get minerals and metals, oil and gas, coal that provides the electricity that we need in our daily life. Explosives are also used in our annual Merdeka celebration to light our skies (fireworks) and we live with it daily in our cars (airbags). Explosives are sometimes used in medical treatment of heart. The fastest way to bring down old buildings is through the use of explosives.

 

There are so many uses of explosives in industry. The talk is to introduce the use of explosives that benefit our daily life and dispense the belief that explosives are used for destructive purposes only. It is also an introduction to futures course in explosives in civil, mining quarrying and other industries that are of interest to engineers by the technical division.

 

Ir. Hj. Look Keman graduated in 1979 in Mining Engineering from Strathclyde University, Glasgow, Scotland and M.Sc (Explosives Ordnance Engineering) from Royal Military College of Science, Cranfield University, England in 1991. He served as a Research Engineer specialising in Geotechnical Engineering/Slope Engineering and later as Inspector of Mines serving in Perak, Selangor and Negeri Sembilan and Malacca with the former Mines Department from 1979-1996. As a Government Engineer he oversees Construction blasting work in Kuala Lumpur at SOGO, Starhill, Pudu, Damansara and Selangor. He had experience in the investigation of Firework Factory where 26 people were killed.in 1991. He was responsible for designing a firework magazine for Al Famosa. After retirement he work as Consulting Engineer specialising in Explosives and Blasting work and also rock breaking using non-explosives demolition agent.

You can register here and download the flyer here.

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Posted by Wata

Bertam project enters construction phase offshore Malaysia

July 1, 2014

Dateline 2014-05-08, Offshore Magazine:

 Lundin Petroleum says its Bertam oil field development offshore Peninsular Malaysia is on schedule for start-up in spring 2015.

The field, in the PM307 block, will be developed using a 20 slot wellhead platform alongside the spread-moored IkdamFPSO.

Development drilling will start this summer. Lundin plans 13 horizontal wells and one deviated well completed with electrical submersible pumps.

TH Heavy Engineering is building the platform at its yard in Pulau Indah, close to Kuala Lumpur. The jacket is expected to be installed offshore this summer, followed by the topside during 4Q.

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Saturday Star 2014-06-28 – Job Opportunities

June 30, 2014

Selamat berpuasa.

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper

  • I’m looking for a senior process engineer, 7+ years experience. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Murphy is looking for a whole mess of people. For example, completions supervisor, completions engineer, drilling superintendent, senior petroleum engineer.  Send your CV here.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

Some books for you to turn those bad numbers’ frown upside down.

  

Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics

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IF S’WAK GETS, SO WILL WE – Sabah confident of getting increase in oil and gas royalties

June 29, 2014

Dateline 2014-06-04, Malaysia Chronicle:

Parti Bersatu Sabah (PBS) Secretary General Datuk Johnny Mositun believes Sabah will get similar consideration as Sarawak from Prime Minister Datuk Seri Najib Tun Razak in the context of increased oil royalties.

He said it was heartening to note that the Prime Minister was willing to give utmost consideration to the Sarawak State Government’s request for an increase in oil royalties for the state.

“It is good that our Prime Minister has not rejected outright Sarawak’s request for an increase in oil royalties, unlike all past Prime Ministers who simply refused to even consider the matter,” he said, when contacted, Tuesday.

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S’wak requests for special natural gas quota

June 28, 2014

Dateline 2014-05-06, Free Malaysia Today:

Sarawak has forwarded an official request to the federal government to be allocated a special natural gas quota from what is being produced in the state.

Assistant Minister of Industrial Development (Investment and Promotion) Julaihi Nahrawi said the natural gas quota would be used to meet the needs of power stations and downstream activities.

“We hope to receive a positive answer from the federal Government (on the request),” he added.

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Sarawak can go it alone – Dixon Fong

June 27, 2014

Dateline 2014-05-01, The Malaysian:

I read Brewin Edward Emprang’s article and found it mind-blowing. The author might have skipped some fundamentals while expressing his views. I am a Sarawakian and thus, I hope I am not wasting your time here.

The author mentioned that Petronas does not have the equipment and expertise needed for oil exploration and excavation.

I beg to defer on this statement. Petronas, one of the Fortune 500 companies, has the talents required to be profitable on an annual basis.

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Posted by Wata

New player seen in Malaysia oil & gas sector

June 24, 2014

Hah, and I always said we could have a bottled water vendor in the O&G space.

 

Dateline 2014-05-05, Seatrade Global:

A Sarawak-government linked group is believed to be looking at injecting MYR200m ($61.5m) in oil and gas (O&G) fabrication assets into a reverse takeover of loss-making bottled water company BIO Osmo to transform it into an O&G company, local reports said.

The speculation has also been prompted by recent changes in its shareholding, including the emergence of Tanjung Offshore managing director Harzani Azmi as a substantial shareholder in January.

Tanjung is looking for a core business after selling its offshore supply vessel business to Ekuiti Nasional for MYR220m in July 2012.The group has been on the look-out for a shell company for some time and Bio Osmo, which is debt free after having undergone a recent restructuring exercise, fits the bill.

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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: , , , | Permalink
Posted by Wata

Saturday Star 2014-06-21 – Job Opportunities

June 23, 2014

Happy School Holidays.

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper

  • I’m looking for a senior process engineer, 7+ years experience. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • ExxonMobil is looking for Drilling Rig Supervisors.Visit here.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

Some books for you to turn those bad numbers’ frown upside down.

  

Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics

2 Comments | engineering, Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Sabah oil doesn’t need another ‘broker’

June 22, 2014

And we see M3Nergy is in the news

Dateline 2014-05-02, Free Malaysia Today:

In the 1980’s the Sabah Energy Corporation (SEC) was established to develop oil and gas projects in Labuan.  Asian Supply Base Sdn Bhd is one of its subsidiaries.

The SEC’s responsibility was to develop the integrated Sabah Gas Utilisation Project in Labuan whereby excess gases piped in from offshore fields are used to make hot briquette iron and methanol.

Excess heat was used for power generation.

But SEC sold off  the integrated gas projects. SEC is now responsible for providing gas for industrial use in the Kota Kinabalu Industrial Precinct (KKIP) but this however is limited to only 2 million cubic feet of gas sales daily.

In the 1990s the Sabah Government established Petrosab, a subsidiary of Innoprise, the business arm of Yayasan Sabah.

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Posted by Wata

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