by TMR / pic by MUHD AMIN NAHARUL

Axiata gets BNM’s approval on Link Net purchase

AXIATA Group Bhd has been granted approval under Bank Negara Malaysia’s (BNM) Foreign Exchange Notices (consolidated) to pay Axiata Investments (Indonesia) Sdn Bhd’s portion of the purchase and mandatory tender offer (MTO) considerations pursuant to the acquisition of PT Link Net Tbk proposals. On Jan 27, Axiata in a filing to Bursa announced the group and its indirect 61.48% owned unit, PT XL Axiata Tbk, were jointly acquiring 66.03% equity interest in Link Net and will carry out an MTO for the remaining 33.97% of Link Net shares for a total purchase sum of RM3.86 billion for a 100% stake.

UOB appoints Ng Wei Wei as its 1st female CEO

UOB Malaysia has appointed Ng Wei Wei as its first female CEO, effective May 1, 2022. She will succeed Wong Kim Choong, who will relinquish the position after leading the Bank since 2012. Wong will take on a new role as senior advisor and will oversee the integration of bank’s and Citi’s retail banking business, until his planned retirement. Ng is a seasoned banker with broad experience and in-depth knowledge of the financial industry. In the earlier part of her career, from 2000 to 2006, she honed her banking skills and developed her core values at UOB Malaysia. Following various leadership roles at global financial institutions in Malaysia and Hong Kong, she returned to UOB Malaysia in 2019 as MD and country head of wholesale banking, before assuming the role of deputy CEO in 2021.

Reservoir Link Energy gets LoA from Roc Oil

RESERVOIR Link Energy Bhd’s wholly owned subsidiary, Reservoir Link Sdn Bhd, has received a letter of award (LoA) from Roc Oil (Sarawak) Sdn Bhd for the provision of tubing cutter and tubing cutting services for D35 and J4 Hydraulic Workover campaign planned to be carried out in 2022. This contract will be on a “call-out” basis for one year effective from April 11, 2022 to April 10, 2023, the energy related services provider stated in an exchange filing on Monday.

T7 Global holds hull launching ceremony for its Bayan MOPU

T7 GLOBAL Bhd held a hull launching ceremony for its mobile offshore production unit (MOPU) in Qingdao, China which was witnessed by representatives from T7 Global’s client, Petronas Carigali Sdn Bhd. T7 stated the next step is to integrate the topside of the MOPU, which is expected to be completed in the third quarter of 2022. This MOPU will be on charter for the next 10 years till 2032 and is expected to provide long-term financial visibility to the group.