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Old November 13th, 2019, 02:52 PM   #101
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Dialog reports 44% jump in 1Q net profit despite quarterly revenue contraction
Tan Xue Ying November 12, 2019 10:30 am +08



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KUALA LUMPUR: Dialog Group Bhd’s net profit jumped 43.6% to RM164.64 million or 2.92 sen per share for the first financial quarter ended Sept 30, 2019 (1QFY20), from RM114.64 million or 2.03 sen per share for the year-ago quarter.

This was despite a 6.5% contraction in quarterly revenue to RM645.76 million from RM690.89 million for 1QFY19, the group’s filing with Bursa Malaysia yesterday showed.

Dialog said its better quarterly earnings came from stronger performance of all activities within its Malaysian operations, besides a higher share of profit from joint ventures and associates. Its international operations also recorded higher profitability, contributed by higher engineering and construction activities and increased specialist products and services sales.

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Additionally, Dialog said it booked a RM28.5 million non-cash fair value gain, arising from a business combination of a jointly-controlled entity to a subsidiary.

Dialog remains confident that its business model is well-structured to manage and sustain itself through economic uncertainty, oil price volatility and currency movements. The group said its performance should remain positive for the current financial year ending June 30, 2020 (FY20).

For its midstream sector, Dialog said its Phase 3 land reclamation at Pengerang Deepwater Terminals (PDT) remains on track and is scheduled for completion at end-2019. The construction of a storage terminal, common tankage facilities and deepwater marine facilities has also begun, with the completion expected in mid-2021.

“In addition to Dialog Terminals Langsat 1 and 2 with a total capacity of 647,000 cubic metres (cu m), Dialog Terminals Langsat 3 commenced partial operations for its 120,000 cu m storage facility in August 2019. We are planning to expand Dialog Terminals Langsat 3 into a 300,000 cu m storage facility, in line with our strategy to grow sustainable and recurring income,” it said.


For downstream, Dialog said it will still leverage its strengths in integrated technical services comprising engineering, procurement, construction and commissioning, plant maintenance and catalyst handling services, and specialist products and services.

“With the completion of PDT Phase 2 and refinery projects at Rapid (Refinery and Petrochemical Integrated Development), we are now actively involved in plant maintenance services for these projects, apart from other existing projects.

“In the upstream sector, the group continues to develop new reserves from the existing contracts,” it added.
https://www.theedgemarkets.com/artic...ue-contraction
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PDT

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Old November 13th, 2019, 02:54 PM   #102
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Belgium's Euronav picks Malaysia port as eastern supply base for marine fuels
Reuters November 12, 2019 16:35 pm +08


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KUALA LUMPUR (Nov 12): Belgian tanker operator Euronav signed a service agreement on Tuesday making Malaysia's Linggi Port its supply base providing low-sulphur marine fuels and other services for ships plying East-of-Suez routes, the port operator said.

"Linggi has a massive advantage, (being) right next to one of the busiest shipping lanes with deep waters to accommodate large ships," Alex Staring, chief operating officer at Euronav, told Reuters on the sidelines of the signing ceremony. "And there is no congestion, offering the flexibility to anchor immediately."

The agreement also covers related services including supplying crews and provisions.

The announcement comes shortly after Euronav, one of the largest tanker companies in the world, sent one of its two ultra-large crude carriers (ULCC) to Kuala Linggi International Port (KLIP) for floating storage with 3 million barrels of 0.2% and 0.5% low sulphur fuel oil (LSFO), operator T.A.G. Marine Sdn Bhd said in a statement.

Ship owners must cut emissions by reducing the sulphur content in fuel to 0.5% from 3.5% under rules set by the United Nations' International Maritime Organization that come into effect in January.

Euronav has already provided 15 LSFO bunkering operations for vessels in its fleet since the Oceania arrived in Linggi on Sept 30. The 420,000 tonnes of bunker fuel it had on board should meet its demand requirements for about 8-9 months, Staring said.

Euronav will initially only supply bunker fuel to its own fleet but is already in discussion with other operators, Staring said.

RIVALLING SINGAPORE

The agreement also marks a milestone for Malaysia's ambitions to develop its maritime and bunkering industries, the statement said, in an effort to rival the world's largest hub in neighbouring Singapore.

"This (deal) is in line with our vision to fully utilise our advantages to develop our bunkering industry," said Malaysian Transport Minister Anthony Loke Siew Fook at the event.

Regional ports have for long eyed capturing a share of Singapore's lucrative bunkering market but have largely failed due to a lack of infrastructure, transparency or legal certainties.

But Malaysia's deal with Euronav might mark the beginning of a new trend if the right infrastructure and policies were introduced, several trade sources said.

"The ministry has setup a special committee to address where the opportunities lie in the bunkering industry that Malaysia should look into and optimize the advantages as well as ancillary services that Malaysia could offer the maritime world, especially in the busy Straits of Malacca," said Loke.

Staring added: "Singapore has a huge role to play since a lot of the service providers are there. But if we can attract more vessels to stop here then that will create a base for (service providers) to establish here."
https://www.theedgemarkets.com/artic...e-marine-fuels
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Old December 1st, 2019, 10:52 AM   #103
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Old December 1st, 2019, 10:56 AM   #104
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PETRONAS Refinery and Petrochemical Integrated Development (RAPID)
At the heart of PIC is the Refinery and Petrochemical Integrated Development (RAPID) project with a 300,000 barrels-per-day (BPD) refinery and a petrochemical complex with a combined 3.609 million metric tons-per-year production capacity.


https://www.fluor.com/projects/petro...-malaysia-epcm
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Old December 4th, 2019, 10:39 AM   #105
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Bukit Kayu Hitam integrated logistics hub to cost rm200m
Published on: Wednesday, December 04, 2019
By: Bernama


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PUTRAJAYA: A truck and inland clearance depot (ICD) costing RM200 million will be developed as part of Kota Perdana Special Border Economic Zone (SBEZ) in Bukit Kayu Hitam, Kedah.

Named as Bukit Kayu Hitam ICD, the 20.2-hectare depot will be developed and managed by a newly formed joint-venture company, Bukit Kayu Hitam ICD Sdn Bhd, a 60:40 partnership between PKT Logistics Group Sdn Bhd and Northern Gateway Sdn Bhd.

Northern Gateway Logistic is a wholly-owned subsidiary of Northern Gateway, which in turn is a wholly-owned entity of Minister of Finance Incorporated, while One Northern Hub is a wholly-owned subsidiary of PKT Logistics Group.

The government was supporting the development by providing RM25 million in 2019 and another RM50 million in 2020 to build external infrastructure like roads and utilities to make the depot a success.

He said the project would improve Malaysia and Thailand’s trade as the kingdom is currently Malaysia’s fifth largest trading partner globally with total trade value of RM105.4 billion in 2018.

“Approximately 70 per cent of this value is attributed to trade across the land border, with the Bukit Kayu Hitam-Sadao crossing taking centre stage,” Lim said.

PKT Logistics Group Chairman Datuk Jalilah Baba said the ICD consisted of three phases with the groundbreaking expected in the first half of next year and the development slated for completion in 2022.

She said the ICD, linked to the Bukit Kayu Hitam Immigration, Customs, Quarantine and Security complex, would be the integrated logistics hub to cater to an annual throughput of 200,000 containers along the warehouses and cross-dock facilities for cargo consolidation and container stuffing. – Bernama
http://www.dailyexpress.com.my/news/...o-cost-rm200m/
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