Its job scope for the contract involves supplying concrete cement and metal for the upgrading of the Train Cargo Terminal at Padang Besar, Perlis, Dolphin said in a filing with Bursa Malaysia.
KUALA LUMPUR: Velesto Energy Bhd
hopes the government will loosen the foreign exchange (forex) requirement for local companies on the conversion of the US dollar to ringgit when conducting business with international companies in the upcoming 2019 Budget in November.
President Rohaizad Darus said the move would lessen the burden of local companies, particularly those in the oil and gas sector, allowing them to have a longer time frame to commit to their payments when conducting international business.
“I hope that there will relaxation on the forex (rules) on the requirement for Malaysian companies to convert US dollar to ringgit.
“Companies like us are actually receiving money in US dollars and if that money is converted to ringgit upfront, we will have more time for our (financial) commitments,” he told reporters after signing a memorandum of understanding with Heriot-Watt University Malaysia here today. - Bernama
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