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Petronas unit to up Euro 5 diesel output

MELAKA: Petronas through its subsidiary, Malaysian Refining Company Sdn Bhd (MRCSB), plans to invest more than RM1.5bil to increase the production of Euro 5 diesel for domestic consumption.

MRCSB chief executive officer and managing director Hashim Majid said the company, which supplies about 70% of petrol and diesel demand in the local market, aspired to become the main producer of Euro 5 diesel by 2020

IHH to have four directors on Indian Fortis board

NEW DELHI: Malaysia's IHH Healthcare Bhd has become the controlling shareholder in India's Fortis Healthcare Ltd and will have four seats on the reconstituted board of directors.

The Indian hospital chain said its board yesterday approved the allotment of 235,294,117 equity shares through preferential issue to Northern TK Venture Pte Ltd (NTK), a wholly-owned indirect subsidiary of IHH Healthcare Bhd, at 170 rupees (US$2.34) per share of 10-rupee face value.

Teo Seng Capital earnings soar on higher egg price

PETALING JAYA: The higher price of eggs and sales have boosted Teo Seng Capital Bhd’s net profit by more than six times to RM7.012mil for the third quarter ended Sept 30 from RM1.13mil a year ago.

The poultry and chicken egg producer said its revenue for the quarter rose 14.6% to RM125.26mil from RM109.29mil previously.

CCM net profit down 44% on absence of pharma ops

PETALING JAYA: Chemical Company of Malaysia Bhd’s (CCM) net profit was slashed 44% year-on-year (y-o-y) in the third quarter of financial year 2018, mainly due to the absence of profit from its now-discontinued operations and higher tax expenses.

On its prospects, CCM said it is “putting strong effort” to expand its chemicals and polymers divisions, since the de-merger of CCM Duopharma.

SunCon unit secures RM352mil construction job

KUALA LUMPUR: Sunway Construction Group Bhd’s (SunCon) unit, Sunway Construction Sdn Bhd, has bagged construction works worth RM352.05mil from Akitek Akiprima Sdn Bhd on behalf of Sunway Velocity Two Sdn Bhd (SVTSB).

In a filing with Bursa Malaysia, SunCon said the job entailed works for the main building and associated external works for the proposed Sunway Velocity Two commercial development comprising serviced apartments, podium car park and office block at Jalan Peel, Kuala Lumpur.