terengganu

 
 

Straits Inter Logistics expands bunkering services to Lumut Port

PETALING JAYA: Straits Inter Logistics Bhd expanded its bunkering services into Lumut Port, following an agreement signed between its 55%-owned unit Tumpuan Megah Development Sdn Bhd and the port’s operator, Lumut Maritime Sdn Bhd today.

The agreement has a contract period of one year from Oct 1, 2019 with the option to renew for not more than one year, upon mutual agreement.

A bunkering anchorage area namely Pit-Stop Bunker Hub @ Lumut will be set up for the business venture.

Under the agreement, Tumpuan Megah will have the exclusive right to operate, manage and provide bunkering services located at or within Lumut Port limit including but not limited to jetties/wharfs, anchorage area and the designated Pit-stop Bunker area.

Straits group managing director Datuk Sri Ho Kam Choy said the tie-up with Lumut Maritime was part of the company’s overall strategy to establish a collaboration with strategic ports in Malaysia to bunker for vessels within their port limits.

“We believe that the opportunity to collaborate with Lumut Maritime will bring forth new dimensions to both parties’ infrastructures which will allow both parties to tap the vast potential in the bunkering industry.

“The tie-up with Lumut Maritime definitely marks an important milestone for Straits for its expansion in the bunkering business,” he said.

Currently, Tumpuan Megah operates in eight ports in Malaysia, including Pasir Gudang Port, Tanjung Pelepas Port, Johor Baru Port, Kuantan Port, Kemaman Port, Kuala Terengganu Port, Labuan Port and Miri Port.

To recap, Straits had completed its acquisition of a 55% stake in Tumpuan Megah in September 2018 in an effort to expand its business footprint. The acquisition of Tumpuan Megah enlarged Straits’ fleet from two vessels to nine, with a total capacity of 12 million litres.


Terengganu boosting SME products through T’Mart

KUALA TERENGGANU, Sept 15 — The Terengganu government targets the opening of five more T’Mart outlets within three years towards producing more entrepreneurs in retail business in the state. State Entrepreneurship, Micro Industry and Hawkers’…


Karnival Usahawan Desa in Putrajaya targets sales of RM40m

PETALING JAYA, Sept 12 — The Rural Development Ministry is optimistic of participants at Karnival Usahawan Desa (KUD), to be held from Oct 17 to 21 in Putrajaya, which will be the last location for this year, achieving the target of RM40 million…


Heng Huat set to become largest coconut fibre player in Malaysia

PETALING JAYA: Heng Huat Resources Group Bhd is poised to become the single largest market leader in the Malaysian coconut fibre segment with the acquisition of a 97% stake in Sabut Kelapa Terengganu Sdn Bhd (SKT) for RM200,000 cash.

SKT is involved in the manufacturing and trading of coconut biomass materials and value-added products. It owns a manufacturing plant with a size of 20,230 sqm in Setiu, Terengganu.

The manufacturing plant has a production capacity of 150 metric tonnes (mt)/month and 240 mt/month for its coconut fibre and coco peat, respectively.

According to estimates, Heng Huat will emerge as the single largest player in the Malaysian coconut fibre segment, with a market share of about 80% following the acquisition.

Heng Huat managing director Datuk H’ng Choon Seng said the synergies between SKT and the group would ensure a huge amount and constant supply of raw materials such as coconut husks at a cost-effective price.

In addition, he opined that there will be a significant reduction in transportation cost as the distance to the factory is much shorter.

“In the long term, we foresee that once the East Coast Rail Link project is ready, we can leverage on it to deliver our products directly to Port Klang for export purposes,” he added.

SKT has been awarded a tax holiday incentive from the government with a tax exemption on operational income for 10 years.

For the financial year ended December 31, 2018, SKT incurred a net loss of RM728,839.


Lazada, ministry to accelerate growth of M’sian SMEs via e-commerce

KUALA LUMPUR, Aug 16 — Lazada Malaysia and the Domestic Trade and Consumer Affairs Ministry will roll out new trade activities and training programmes to support the growth and digital acceleration of the country’s small and medium…


MB: Terengganu launches plan to make agriculture a lucrative business

KUALA TERENGGANU, Aug 4 — The state government today launched the Terengganu Agricultural Strategic Plan 2019-2023 to ensure that agriculture will no longer be associated with poverty but to be viewed as a lucrative business. Mentri Besar Datuk…


Pahang to receive RM 1.134b in investments from Singapore, says MB

SINGAPORE, Aug 2 ― The Pahang state government today signed 11 memoranda of understanding (MoUs) with Singaporean investors and international companies that agreed to invest RM1.134 billion in the state. “The total amount of the investments is…


More US firms to set up shop in Malaysia amid shift in supply chain: Business council regional head

KUALA LUMPUR: Malaysia can expect more US firms to establish their presence here amid the ongoing US-China trade war.

“The shift of supply chain has been going on for some time and the trade war has just accelerated that shift,” US-Asean Business Council senior vice-president and regional managing director Michael W Michalak told a press conference at “The Potential of Industry 4.0 for Malaysian SMEs” workshop today.

Big US firms are expediting efforts to move more of their supply chains from China to neighbouring countries, including Malaysia, in light of Trump administration tariffs.

“The movement (of US firms) into Malaysia has been quite big,” International Trade and Industry Minister Datuk Darell Leiking said, adding that it is of importance to Malaysia that the country is able to provide what these investors expect, including an enhanced Industry 4.0 environment and conducive regulatory framework.

However, US Ambassador to Malaysia Kamala Shirin Lakhdhir opined that the Sino-US trade war is not the single factor for the shift of US firms to Malaysia, pointing out that the decisions to invest in Malaysia are based on a range of factors. For example, some of the US firms have decided to use Malaysia as a platform for their Asean or Asia-Pacific businesses.

“Some of them may be looking at what’s happening in the global economy, some maybe specific to Malaysia in terms of talent, infrastructure or connectivity. Each individual firm has a range of reasons why they are moving and where they may be expanding and not a single factor related to tariffs,” said Lakhdhir.

Meanwhile, Darell highlighted that there is a big disparity in the country in terms of the readiness for Industry 4.0.

As at June 30, 2019, 475 applications from small and medium enterprises (SMEs) for readiness assessment of Industy 4.0 were received. The breakdown of application by states are Selangor (205 applications), Johor (59), Penang (57), Perak (32), Kedah (25), Sarawak (22), Malacca (18), Negri Sembilan (18), Federal Territory (13), Kelantan (7), Sabah (7), Terengganu (7) and Pahang (5). Of these, 59 of them have been shortlisted.

“While the government wants to assist your readiness for Industry 4.0, the interest is not so much there for some parts of our states. We need to find out why are they not interested or not moving up the value chain to be ready for Industry 4.0,” said Darell.

He encouraged more collaboration between international cooperation and local SMEs to maximise the potential of Industry 4.0 and called upon SMEs to embrace new technologies and develop strategies that will enable them to transform and continuously remain competitive.

The workshop demonstrated the commitment of US multinational corporations in supporting the Malaysia National Policy on Industry 4.0 or more widely known as Industry4WRD, especially in strengthening SMEs and driving their digital transformation.


More US firms to set up shop in Malaysia amid shift in supply chain: Business council regional head

KUALA LUMPUR: Malaysia can expect more US firms to establish their presence here amid the ongoing US-China trade war.

“The shift of supply chain has been going on for some time and the trade war has just accelerated that shift,” US-Asean Business Council senior vice-president and regional managing director Michael W Michalak told a press conference at “The Potential of Industry 4.0 for Malaysian SMEs” workshop today.

Big US firms are expediting efforts to move more of their supply chains from China to neighbouring countries, including Malaysia, in light of Trump administration tariffs.

“The movement (of US firms) into Malaysia has been quite big,” International Trade and Industry Minister Datuk Darell Leiking said, adding that it is of importance to Malaysia that the country is able to provide what these investors expect, including an enhanced Industry 4.0 environment and conducive regulatory framework.

However, US Ambassador to Malaysia Kamala Shirin Lakhdhir opined that the Sino-US trade war is not the single factor for the shift of US firms to Malaysia, pointing out that the decisions to invest in Malaysia are based on a range of factors. For example, some of the US firms have decided to use Malaysia as a platform for their Asean or Asia-Pacific businesses.

“Some of them may be looking at what’s happening in the global economy, some maybe specific to Malaysia in terms of talent, infrastructure or connectivity. Each individual firm has a range of reasons why they are moving and where they may be expanding and not a single factor related to tariffs,” said Lakhdhir.

Meanwhile, Darell highlighted that there is a big disparity in the country in terms of the readiness for Industry 4.0.

As at June 30, 2019, 475 applications from small and medium enterprises (SMEs) for readiness assessment of Industy 4.0 were received. The breakdown of application by states are Selangor (205 applications), Johor (59), Penang (57), Perak (32), Kedah (25), Sarawak (22), Malacca (18), Negri Sembilan (18), Federal Territory (13), Kelantan (7), Sabah (7), Terengganu (7) and Pahang (5). Of these, 59 of them have been shortlisted.

“While the government wants to assist your readiness for Industry 4.0, the interest is not so much there for some parts of our states. We need to find out why are they not interested or not moving up the value chain to be ready for Industry 4.0,” said Darell.

He encouraged more collaboration between international cooperation and local SMEs to maximise the potential of Industry 4.0 and called upon SMEs to embrace new technologies and develop strategies that will enable them to transform and continuously remain competitive.

The workshop demonstrated the commitment of US multinational corporations in supporting the Malaysia National Policy on Industry 4.0 or more widely known as Industry4WRD, especially in strengthening SMEs and driving their digital transformation.


Petronas Gas reports fire incident at Terengganu plant

PETALING JAYA: Petronas Gas Bhd said a fire broke out at one of its gas processing plants located in Paka, Terengganu on July 16 at 7.43pm.

However, it said the fire was confined to one of the plant’s equipment, the De-Methanizer Columnand it as fully extinguished at 4.30am today.

“We are currently working closely with the relevant authorities to investigate the cause of the incident,” the group said in a statement today.

Petronas Gas assured that the situation is under control and no injuries or fatalities have been recorded.

“The incident posed no immediate threat to the surrounding communities with no health-related risk. There is also no major impact to Petronas Gas’ overall operations as our other gas processing facilities will ensure uninterrupted gas supply to our customers.”

At 2.50pm, Petronas Gas’ share price was trading 4 sen or 0.2% lower at RM17.08 on 50,900 shares done.