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MIDF upgrades O&G sector to positive on higher oil prices

KUALA LUMPUR (March 11): MIDF Research has upgraded the oil and gas sector to positive as it sees the upstream and downstream sub-segments will benefit from the recent oil price rally. Its analyst Noor Athila Mohd Razali said in a note today that the higher oil prices would benefit the sub-segments in terms of potential new contract awards, rising product prices and spread for downstream industry players. “Despite the absence of revision in exploration and production (E&P) capital expenditure spending from the oil majors, we opine that the recovery narrative for the sector remains on track given that a more selected spending approach will result in a more sustained recovery and significant uptick in activities within the oil and gas sector is expected to take place in the second half of 2021.

Kuala lumpurNoor athila mohd razaliNoor athilaFavelle favco bhdSerba dinamik holdings bhdEngineering holdings bhdDialog group bhdPetronas chemicals group bhdSapura energy bhdGas malaysia bhdMalaysia marineHeavy engineering holdings bhdPetronas gas bhdகுவாலா லம்பூர்பொறியியல் ஹோல்டிங்ஸ் ப்ட்உரையாடல் குழு ப்ட்

Higher gas sales push Gas Malaysia 4Q net profit up 20% y-o-y

Higher gas sales push Gas Malaysia 4Q net profit up 20% y-o-y
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Kuala lumpurGas malaysia bhdGas malaysiaகுவாலா லம்பூர்வாயு மலேசியா ப்ட்வாயு மலேசியா

Local manufacturers enjoy low gas prices, but not for long

THE current high gas price in the spot market means that Malaysian manufacturers that pay a regulated price set by the Energy Commission (EC) are now enjoying a much lower gas price than their international counterparts. However, the current high gas price level is not expected to be sustained for long, as the extremely cold weather in the northern hemisphere has started to subside, which means less gas will be needed for heating. Lower demand for heating will translate into higher stockpile among northern countries. According to S&P Global Platts, the futures price for LNG Japan/Korea Marker (JKM) for March 2021 delivery has been increasing since Nov 19, 2020, when it was trading at US$5.815 per million British thermal unit, to US$19.695 per mmBtu on Jan 11.

Soult ukpyolsiSouth koreaUnited kingdomKorea power exchangeKorea meteorological administrationFederation of malaysian manufacturersMalaysian gas associationEnergy commissionKorea markerGas malaysia bhdGas malaysiaMalaysian manufacturersPeninsular gas pipelineSungai udangPanama canalNorth asian

Newsmakers 2020: The saga at FELDA and FGV

THE Federal Land Development Authority (FELDA) and its subsidiary FGV Holdings Bhd being in the news is nothing new, but things have picked up a few notches with tensions simmering between the two, culminating in the former wanting to end its land lease agreement with the listed unit. Then this month, FELDA said it wanted to take FGV private. Here are the main newsmakers in the FELDA-FGV saga. Business tycoon and philanthropist Businessman Tan Sri Syed Mokhtar Albukhary has been on The Edge’s newsmakers list every year for the past 15 to 20 years at least, with his vast empire of companies and his corporate manoeuvres that involve his two main listed entities, flagship MMC Corp Bhd and DRB-Hicom Bhd.

Sumatera utaraSulawesi tenggaraPulau pinangUtusan melayum bhdIdris jusohSyed mokhtar albukharyDrb hicom bhdSyed mokhtarPadiberas nasional bhdJati sutera sdn bhdSutera bakti sdn bhdDatuk haris fadzilah hassanM sdn bhdKumpulan wang persaraan diperbadankanSdn bhdNorthportm bhd

CCM, NWP, Pecca, Reservoir Link, Bermaz Auto, Pegasus Heights, Hai-O, PCCS, Gas Malaysia, PLS Plantation, Fintec, NetX, Puncak Niaga and NTPM

KUALA LUMPUR (Dec 17): Based on corporate announcements and news flow today, companies that may be in focus on Monday (Dec 21) include: Chemical Company of Malaysia Bhd, NWP Holdings Bhd, Pecca Group Bhd, Reservoir Link Energy Bhd, Bermaz Auto Bhd, Pegasus Heights Bhd, Hai-O Enterprise Bhd, PCCS Group Bhd, Gas Malaysia Bhd, PLS Plantation Bhd, Fintec Global Bhd, NetX Holdings Bhd, Puncak Niaga Holdings Bhd and NTPM Holdings Bhd. Seasoned investor Pui Cheng Wui has emerged as a substantial shareholder of Chemical Company of Malaysia Bhd (CCM) after acquiring 27.03 million shares or a 16.12% stake in the company. The move comes just a month after Batu Kawan Bhd announced the acquisition of a 56.32% stake in CCM from Permodalan Nasional Bhd. Pui’s purchase of the 16.12% stake was made in the open market on Dec 16. The block of shares would have cost him RM83.26 million based on the closing price of RM3.08 on Dec 16.

Kuala lumpurNegeri sembilanHong kongSdn bhdIkhlasi bina sdn bhdKawan bhdSukuk wakalahPermodalan nasional bhdPuncak niaga holdings bhdNetx holdings bhdGas malaysia energyFirst united technology ltdServices sdn bhdEnergy commissionPecca group bhdChemical company of malaysia bhd