IPO: Sona Petroleum Receives Several Acquition Proposals

September 22, 2013

So fast? This is how you make money. The Edge, Dateline 2013-07-30:

Sona Petroleum Bhd said today it has received a number of proposals for possible acquisition targets.

“We have received quite a number of proposals from the regions of interests,” managing director Datuk Seri Hadian Hashim told a press conference today at the listing ceremony of Sona.

“The team will have to go through the proposals when the listing is over,” he said.

Sona Petroleum — a special purpose acquisition company (SPAC) which acquires assets in the exploration and production phases of the oil and gas value chain – has said it is setting its sights to acquire assets in the Middle East, Africa and Southeast Asia.

Hadian did not offer more details but said Sona is also likely to make ventures into acquisitions of exploration and development assets when “there is profitability and when the opportunities arise”.

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‘What happened, where’s our oil?’

September 21, 2013

FMT, dateline 2013-07-30:

Had the oil and gas of Sabah not been swindled away by the Barisan Nasional federal government, today her people probably would not have to endure the agony of having to line up for hours and hopping from one gas station to another for diesel.

It is a shameful reality that 95% of our oil and gas was illegally taken away from us.

Why do we say it was illegally taken away?

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Petronas to delay $19 billion petrochemicals project

September 20, 2013

Okay, this is really out of date info, but I’m behind, so much news to share. “Water supplies”?

From FMT, dateline 2013-07-30:

Petronas will start up its $19 billion petrochemicals complex in Malaysia in 2018, the company told Reuters on Tuesday, signaling a further delay in the country’s largest-ever infrastructure project.

A delay to the project in  Johor could deal a potential blow to the economy of  as well as local oil and gas services firms hoping for work on the massive complex.

A source familiar with Petronas’ business strategy told Reuters the project had been complicated by a need to secure water supplies as well as cater for proposed international partners.

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UMW Oil & Gas Corp gets Bursa’s nod to list

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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What is a busbar?

September 18, 2013

You know, I’m kinda dungu when it comes to electrical systems with a voltage above 12V.

I used to think a busbar was a physical bar, to which you attach connections if you wanted to tap off power from it. Then electrical engineers tell me, nope, that’s not what is meant when the expression is used in one-line diagrams.

Book of Knowledge says I’m right. Anyone care to enlighten me?

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IEM Shout Out (OGMTD) – Visit to Valser Oil & Gas Sdn Bhd

September 18, 2013

This is a shout out for the IEM. My Technical Division will hosting a visit to Valser Oil & Gas Sdn Bhd  on the 21st Sept, 2013. You will be awarded with 2 CPD points.

Valser Oil & Gas Sdn Bhd (VOG) was incorporated in 2010. The VOG group aims to become the top Malaysian and Asia Pacific Regional One-Stop-Solution-Centre for the supply and services of valves, actuators and controls for the General, Oil & Gas and Energy Industries. VOG places great emphasis on adding value to the industry by ensuring that their products and services are reliable, safe and of the highest quality.

Valser Valve Automation Centre (VVAC) is located in Nilai, Negeri Sembilan. The facility is their largest at present where all integration and testing of Actuated Valve Systems are conducted. In addition, together with Biffi Italia Srl, the facility also assembles and tests Biffi ALGAS pneumatic actuators.

You can register for the event here, or get the flyer here.

Maybe you can get free samples.

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Ranhill Withdraws Plan to List on Bursa Malaysia

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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Saturday Star 2013-09-14 – Job Opportunities

September 16, 2013

Well wishes on Malaysia Day.

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. Send your cv here. Also looking for process safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • ExxonMobil is looking for an Electrical SME. Since they accept diploma holders, does this mean that you don’t have to be registered as an engineer in this country? BEM police, please help. Apply here if interested.

Help me (and you) increase my cloud presence. Pleease use some form of cloud storage, so if you lose your laptop with those oh-so-important reports, be assured that (with Internet access) the files are still accessible. Use my referrals for Dropbox, MiMedia,  SpiderOak, MediaFire, Ubuntu One, Sugar Sync.

Break the Low Yat stranglehold! Support Newegg Malaysia, or check Amazon’s International Shipping. Yeah, baby!

I’ve had days of interpreting bad data. Apparently is catching.

  

Bad Science: Quacks, Hacks, and Big Pharma Flacks, Bad Astronomy: Misconceptions and Misuses Revealed, from Astrology to the Moon Landing “Hoax”, Bad Pharma: How Drug Companies Mislead Doctors and Harm Patients

The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.

Food? Doctor says I need to lose weight, sugar, cholesterol. Wish me luck.

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Ranhill IPO Probed by Regulator as Malaysia Listing Deferred

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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IEM – Fully Paid Membership Scheme

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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