Afiq Isa

Recent and archived articles by Afiq Isa

6 May 2017 | 7:00 AM

UMW-OG left on its own to survive

THE aborted deal between UMW Oil & Gas Corp Bhd’s (UMW-OG) and Ekuiti Nasional Bhd (Ekuinas) over the acquisitions of Icon Offshore Bhd and Orkim Sdn Bhd has put the group back in square one – it has to battle the weak prospects in its upstream drilling business for the next few years to come.

5 May 2017 | 7:00 AM

UMW-OG, Ekuinas call off deal

PETALING JAYA: UMW Oil & Gas Corp Bhd (UMW-OG) has called off a plan to acquire oil and gas (O&G) assets from Ekuiti Nasional Bhd (Ekuinas), citing capital constraints and uncertainties in the industry

Rohaizad: ‘We have decided not to pursue the consolidation at this time, but may continue to explore opportunities to collaborate in the future once there is more certainty in the industry environment and consolidation framework'.
3 May 2017 | 7:00 AM

Felda to keep stake in Iris

KUALA LUMPUR: The Federal Land Development Authority (Felda) is looking to raise its stake in Iris Corp Bhd, chairman Tan Sri Shahrir Abdul Samad said. “We will decide (later) whether we want to buy more shares in the market,” he said

From left, Chairman and Funder Tru Tag Technologies Dr. Hank Wuh, Iris acting CEO CH Choong, Felda Chairman Tan Sri Shahrir Samad and Chairman Nanotag Solutions Datuk Nazifuddin Najib at the signing ceremony at Iris in Bukit Jalil in Kuala Lumpur on May 2, 2017. ROHAIZAT MD DARUS/STAR.
29 Apr 2017 | 7:00 AM

Felda to unravel FGV deal?

Wilmar’s Sitorus may emerge as a substantial shareholder in FGV

Massive landbank: A Felda estate in Sungai Siput. About 335,000 ha from Felda’s total landbank of 850,000 ha are currently run by FGV under a land lease agreement (LLA) which was established in 2012.
28 Apr 2017 | 7:00 AM

Decision time for UMW-OG

PETALING JAYA: The board of UMW Oil & Gas Corp Bhd (UMW-OG) is expected to decide today the proposed acquisition of Icon Offshore Bhd and Orkim Sdn Bhd amid differing opinions on the valuations of the two assets.

The group’s board is also expected to weigh in on whether the assets that are on the table would be able to secure enough contracts from national oil company Petroliam Nasional Bhd (Petronas) to ensure its high utilisation. Sources familiar with the matter said there was a difference in views on the valuation of Icon and Orkim.
27 Apr 2017 | 7:00 AM

KPJ warrants hit limit-up

KUALA LUMPUR: KPJ Healthcare Bhd’s company issued warrants hit its limit up price of RM1.11 and tracked the gains from its mother share as the group is expected to benefit from a recovery in consumer sentiment this year.

Following the opening of KPJ Pahang Hospital last year, the group expects to open its latest hospital, KPJ Perlis, by the second quarter of this year (2QFY17) which will have a total bed capacity of 190.  In addition, KPJ plans to expand nine of its existing hospitals and increase its total bed count by 527. As at FY16, the group’s total bed count stood at 2,929.
26 Apr 2017 | 7:00 AM

Takeover of Icon on hold, resistance from minority shareholders

PETALING JAYA: UMW Oil & Gas Corp Bhd’s (UMW-OG) proposed takeover of Icon Offshore Bhd and Orkim Sdn Bhd is on hold.

According to sources, the proponents of the deal are unsure if shareholders’ approval can be obtained to see through the multi-billion-ringgit transaction that is said to be backed by UMW-OG’s major shareholder Permodalan Nasional Bhd (PNB) and Ekuiti Nasional Bhd (Ekuinas), which owns major stakes in both Icon and Orkim.
22 Apr 2017 | 7:00 AM

Tough times for REITs

AFTER a stellar 2016 in the face of a weak broader market, shares of real estate investment trusts (REITs) may turn sluggish this year due to a lack of concrete growth catalysts and growing fundamental headwinds, say analysts.

High volume: The highest sustained volume in footfalls continue to be seen in 1Utama Shopping Centre where rentals go for as high as RM600 per sq m. The shopping complex is estimated to receive some 120,000 visitors a day on weekends.
20 Apr 2017 | 7:00 AM

MMHE eyes RM4bil contracts

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) is targeting to secure some RM4bil in new contracts this year, even as some of the jobs that it had eyed earlier were deferred due to the low price of crude oil.

New job: MMHE’s West Yard in Pasir Gudang, Johor. The company recently won a RM1bil contract for an offshore project in Sarawak
19 Apr 2017 | 7:00 AM

SP Setia buys prime land in Singapore

PETALING JAYA: SP Setia Bhd, which is turning into Permodalan Nasional Bhd’s (PNB) regional property powerhouse, has won a highly-competitive bid to develop a prime piece of land in Singapore.

“We are pleased to be awarded the tender of this site by the URA. Singapore is one of our key overseas markets and we will continue to strengthen and grow our brand presence here,” said SP Setia president and chief executive officer Datuk Khor Chap Jen . (filepic)