PETRONAS LNG Ltd. (PLL), a subsidiary of PETRONAS, has signed a 15-year Sale and Purchase Agreement (SPA) with S-OIL Corporation (S-OIL) to supply liquefied natural gas (LNG) to be used as fuel for S-OIL’s new plant operations and as feedstock for hydrogen production.
Under the long-term SPA, signed on 25 August 2017 in Kuala Lumpur, PLL is committed to deliver up to 0.7 million tonnes per annum (MTPA) of LNG to S-OIL beginning 2018. Signing on behalf of PLL was its Chairman, Ahmad Adly Alias while S-OIL was represented by Dr. Ryu Yul, its President, Corporate Strategy and Services.
UMW Holdings Berhad’s Automotive and Equipment segments remained profitable in the second quarter of 2017 despite challenging operating conditions due to intense competition, lower margins and weaker consumer demand.
The Manufacturing & Engineering segment continued to perform reasonably well but was affected by pre-operating expenses incurred by the aerospace business.
CIMB Group Holdings Bhd reported a Profit Before Tax of RM3.05 billion for the first half of 2017 (1H17).
On a year-on-year (Y-o-Y) basis, the Group’s 1H17 operating income expanded 13.9%, translating to a 21.4% Y-o-Y improvement in pre-provisioning operating profit (“PPOP”) and a 35.3% Y-o-Y growth in Net Profit to RM2.28 billion.