by TMR / pic by TMR FILE

Posco International, Carigali win Petronas’ contract

PETROLIAM Nasional Bhd (Petronas) has awarded a Production Sharing Contract (PSC) for Block PM524 to Posco International E&P Malaysia Sdn Bhd (Posco International) and Petronas Carigali Sdn Bhd. Posco International, a wholly owned subsidiary of South Korean Posco International Corp, will be the operator of the block with 80% participating interest. Carigali, wholly owned by Petronas, will hold the remaining 20%. The PSC was signed in a virtual ceremony held yesterday.

BDB announces changes in boardroom

BINA Darulaman Bhd (BDB) has announced changes in its boardroom, including the resignation of its chairman Datuk Mohamed Sharil Mohamed Tarmizi and independent director Datuk Asri Hamidin. In a filing to Bursa Malaysia yesterday, the group also announced the resignation of its group CEO Faris Najhan Hashim.

AirAsia increases flight to Sabah

RESPONDING Sabah reopening its door to domestic tourism, AirAsia Group have increased its flights to and from the state from yesterday. The move saw a 75% increase from over 170 weekly flights currently, the company noted in a statement yesterday.

Bursa to suspend trading of Top Builders

TRADING of Top Builders Capital Bhd’s shares on Bursa Malaysia will be suspended effective from Nov 9, 9am, until further notice. In a filing to Bursa Malaysia yesterday, Top Builders noted that it has failed to submit its annual report that includes the annual audited financial statements together with the auditors’ and directors’ reports for the financial period ended June 30, 2021, to Bursa Malaysia Securities for public release within the stipulated time frame of Oct 31, 2021.

Paramount to acquire 29% stake in LPSB and LMSB

PARAMOUNT Corp Bhd has entered into an agreement to acquire a 29% stake in Lasseters Properties Sdn Bhd (LPSB) and Lasseters Management (M) Sdn Bhd (LMSB) for a purchase consideration of RM4.85 million. In a filing to Bursa Malaysia yesterday, Paramount said it has entered into a share sale and purchase agreement with LPSB and LMSB in Super Ace Resources Sdn Bhd (SAR), with SAR becoming a wholly-owned subsidiary of Paramount and termination of all joint-venture agreements entered into between Paramount, LPSB and LMSB upon completion of the agreement, expected within the fourth quarter of 2021.