KUALA LUMPUR (Aug 11): Sapura Energy Bhd, which is disposing of assets to address its cash flow and balance sheet position, said it has completed the disposal of heavy-lift and pipelay vessel Sapura 3000 for US$71.5 million (RM317.82 million). The disposal of Sapura 3000 was completed on Thursday (Aug 11), the group said in a brief filing with Bursa Malaysia. Sapura Energy took over the ownership of the vessel in 2017 following the discontinuation of its 50:50 joint venture with Subsea 7 SA. Sapura Energy shares settled unchanged at five sen, giving the group a market capitalisation of RM799 million. Read also:Sapura Energy begins asset sale with US$71m Sapura 3000 disposal

The benchmark index opened 5.48 points better at 1,497.81 this morning and remained in positive territory throughout the session. Total turnover increased to 2.55 billion units worth RM1.97 billion from 2.17 billion units worth RM1.68 billion on Wednesday. The Main Market volume expanded to 1.64 billion shares worth RM1.63 billion from 1.48 billion shares worth RM1.49 billion on Wednesday. Warrants turnover declined to 308.49 million units valued at RM56.64 million versus 322.59 million units valued at RM47.53 million on Wednesday. The ACE Market volume swelled to 604.56 million shares worth RM282.21 million from 365.79 million shares worth RM130.92 million previously.

KUALA LUMPUR (August 11): Seven Malaysian companies have made it to the Forbes Asia's Best Under A Billion 2022 list. The annual list highlights 200 Asia-Pacific public companies with less than US$1 billion in sales and consistent top- and bottom-line growth. The seven Malaysian companies are CE Technology, D&O Green Technologies Bhd, Greatech Technology Bhd, Kim Loong Resources Bhd, Tashin Holdings Bhd, UG Healthcare and ViTrox Corp Bhd. From a universe of 20,000 publicly traded companies in the Asia-Pacific region with annual sales above US$10 million and below US$1 billion, these 200 companies were selected. The list uses full-year annual results, based on the latest publicly available figures as of July 11, 2022.

PETALING JAYA: The aggregate electronic money (eMoney) payments are expected to double by 2025 in South-East Asia but it may not be sufficient to sustain the provider’s ambitious growth plans. It said the eMoney revenue opportunity for eWallets is not significant enough for financial technology (fintech) companies. In Malaysia, five consortiums have been awarded digital banking licences and they include Axiata’s Boost Holdings Sdn Bhd and RHB Bank Bhd. The others include GXS Bank and Kuok Brothers Sdn Bhd; Sea Ltd and YTL Digital Capital Sdn Bhd, Aeon Financial Service Co Ltd, AEON Credit Service (M) Bhd and MoneyLion Inc, and KAF Investment Bank Sdn Bhd. It said the three technology companies – Sea, Grab and GoTo – plan to control both manufacturing and distribution of financial services.

SHAH ALAM (Aug 11): The prosecution in former home minister Datuk Seri Dr Ahmad Zahid Hamidi’s trial involving 40 charges for receiving bribes in the foreign visa system (VLN) matter has closed its case after calling 18 witnesses. Once the submissions on both sides are done, Yazid will determine whether a prima facie case has been put forth by the prosecution against Zahid. Among the list of witnesses are former immigration director general Datuk Seri Mustafar Ali, who is also the current head of the National Financial Crime Centre (NFCC). In this trial, Zahid, 69, is facing 33 charges of receiving the S$13.56 million (about RM42 million) bribes from Ultra Kirana Sdn Bhd (UKSB) as an inducement. Parti Warisan president and Semporna MP Datuk Seri Mohd Shafie Apdal declined to comment when questioned by a Malay language portal.

KUALA LUMPUR (Aug 10): Boustead Plantations Bhd’s (BPB) subsidiary Boustead Agro Plantations Sdn Bhd has signed a document of understanding (DOU) — with Pertubuhan Peladang Kawasan Kuala Langat (PPKKL) — to venture into the sustainable and technology-driven commercial crop market. “This endeavour signifies BPB’s maiden effort in tapping into other sources of agricultural markets apart from its already established upstream oil palm plantation business. Chief executive officer Zainal Abidin Shariff said the company’s venture into the commercial crop business indicates its steadfastness in assisting the government to address the issue of food security in Malaysia. BPB is one of the most experienced and established upstream oil palm plantation companies in Malaysia. Its major shareholders are Boustead Holdings Bhd and Lembaga Tabung Angkatan Tentera.

KUALA LUMPUR (Aug 10): Velesto Energy Bhd announced that it had completed the offline capabilities upgrading works for NAGA 5 and NAGA 6, making them the first Malaysian jack-up drilling rigs to be equipped with offline capabilities. The offline capabilities of the two jack-up rigs will reduce the total time spent on wells, as the rigs are able to do multiple scopes of activities while drilling, said Velesto in a statement on Wednesday (Aug 10). With fewer rig days per well, Velesto said the offline capabilities will help to bring down the overall drilling project cost for clients, and indirectly reduce the industry’s emission footprint. “This is the first time that Velesto has carried out upgrades for its jack-up rigs. “The offline capabilities will further strengthen Velesto’s value creation as a local company on a par with global players, offering sustainable competitive advantages,” said Velesto president Megat Zariman Abdul Rahim.

Digging into Putrajaya’s past, did this city get its name from our first prime minister Tunku Abdul Rahman? VERDICT:TRUETHE name "Putrajaya" was derived from the name of Malaysia’s first prime minister Tunku Abdul Rahman Putra al-Haj. The city was named as such, in honour of Malaysia’s Father of Independence. "In Malay, the word 'putra' means prince or male child and 'jaya' means success or victory. "Therefore 'Putrajaya' literally means victorious men or victorious people," read an explanation from a website, called "Toponymy Heritage Places of Malaysia".

KUALA LUMPUR (Aug 8): FGV Holdings Bhd has formed a joint-venture company (JV) to develop an integrated dairy farm business in Chuping, Perlis, a filing with Bursa Malaysia showed on Saturday (Aug 6). The plantation giant said its wholly-owned subsidiary FGV Integrated Farming Holdings Sdn Bhd had entered into a conditional shareholders agreement with Qatar-incorporated Baladna for Trading and Investment W.L.L, and Touch Group Holdings Sdn Bhd. According to FGV, Baladna's principal activities are trading feed, investment and management of agricultural projects and investments outside Qatar. Separately, trading of FGV shares was suspended for one hour on Monday, from 9am to 10am. At the time of writing on Monday, shares in FGV were unchanged at RM1.51, giving it a market capitalisation of RM5.51 billion.

He might be an able corporate man but he’s politically naïve. In turn, he would campaign for DAP and Teresa in the Kinrara state seat, a BN stronghold. Ever the practical man, Khalid argued that the GCE would in the end pay for itself, not through the traffic volume but the revaluation of Guthrie’s plantation land. One Selangor parliamentarian described him as “a no-nonsense go-getter corporate man, never willing to compromise on doing what is right”. While wanting to manage the state his way, the practical man in the end got caught up in the impractical side of politics, which led to his being sacked from the party in 2014.

Does that make someone a great communicator? Cross-cultural communication highlights the processes that underlie all communication (Tannen, 1984). I stood in awe of the various nationalities on campus when I first came to Sunway University. This will help anyone to refine the cultural adaptation as it plays a great role in communication efficiency. I quote my own PhD thesis (2018) which noted, “Further effort needs to be executed in order to search for explicit cross-cultural communication”.

SERDANG: The government is prepared for the next general election (GE15) if any party decides to withdraw its support, says Prime Minister Datuk Seri Ismail Sabri Yaakob. “If support is withdrawn, then we have no choice but to dissolve Parliament and have GE15 as the solution. We’ll just wait,” he said when responding to reports of Perikatan Nasional threatening to withdraw support for the current administration. Ismail Sabri said he was aware of the reports, noting that everyone was free to speak their mind in a democratic country. “I have already met with Perikatan secretary-general Datuk Seri Hamzah Zainudin and Terengganu Mentri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar albeit in an informal meeting.

THE 56 convent schools nationwide, which are run by the Infant Jesus Sisters (IJS), are in desperate need of financial support with at least 90% of the school buildings in dilapidated conditions in the absence of sufficient maintenance funds. Many of these highly regarded convent schools were built over 100 years ago, with the first IJS school as well as orphanage set up in Light Street, George Town, in 1852. Sister Theresa describes the plight of convent schools in Malaysia, which have produced hundreds of thousands of students including prominent figures, as desperate. “Often, the Sisters have no means to make proper major repairs as evidenced in the latest Convent Bukit Nanas landslip. To support the Convent schools -– OCBC Bank Bhd, Account No : 701-157675-5For more information, also call Sr Theresa Chua, Tel- 03-20318243 or 03-20780615

TAIPEI (Aug 7): Chinese and Taiwanese warships played high-seas "cat and mouse" on Sunday ahead of the scheduled end of four days of unprecedented Chinese military exercises launched in reaction to a visit to Taiwan by the US house speaker. The island's defence ministry said in a release multiple Chinese military ships, aircraft, and drones were simulating attacks on the island and its navy. China's military said on Saturday the sea and air joint exercises, north, south-west, and east of Taiwan, had a focus on land-strike and sea-assault capabilities. The United States called the exercises an escalation. China has also warned the United States not to "act rashly" and create a greater crisis.

KUALA LUMPUR (Aug 6): Petroliam Nasional Bhd (Petronas) senior executives signed the Declaration of Corruption-Free Pledge with the Malaysian Anti-Corruption Commission (MACC) on Friday (Aug 5). The pledge was led by the national oil firm's president and chief executive officer Datuk Tengku Muhammad Taufik at its headquarters, said the MACC in the statement. Petronas chairman Tan Sri Mohd Bakke Salleh and MACC chief commissioner Tan Sri Azam Baki witnessed the signing ceremony. The commission noted that the Corruption-Free Pledge was initiated in 2018. So far, 1,802 entities including corporations, non-governmental organisations, government agencies, government-linked companies and ministries have signed the pledge, according to the MACC.