Barakah Offshore Petroleum is making further inroads into the Sarawak oil and gas (O&G) market with its unit, PBJV Group sealing a deal to work with Sarawak-based parties on projects in the state.

Malaysia’s Port of Tanjung Pelepas (PTP) became the first Southeast Asian port to operate super post-panamax cranes, with the delivery of the first four of a series of eight.

Malaysia is also getting up to speed on smaller scale LNG solutions, including LNG bunkering, with national oil company Petronas' unit Petronas LNG signing a two-year service agreement with Argo Engineering and Eastport Marine to provide ship-to-ship LNG transfer services in Labuan, local reports said.

Malaysia Marine and Heavy Engineering (MMHE) returned to the black with a MYR16.4m ($3.9m) profit in the third quarter, recovering from a MYR4.5m loss in the previous correponding period, despite lower revenue and the completion of several projects.

Shin Yang Shipping Corp (SYS Corp) was hit by the continued weak shipping market seeing FY2017 net profit fall by a third to MYR5.3m ($1.25m) as revenue fell 8% to MYR 589.7m on lower revenue from the international shipping segment, with a 20% drop compared to the previous corresponding period.

Malaysian shipping company MISC continues to divest non-core assets, disposing of its 25% stake in Trans-Ware Logistics (TWL), a Sri Lanka joint venture.

Yinson Holdings has raised $100m from a perpetual bond issue through its Yinson Juniper unit under its $500m multi-currency perpetual securities programme, the FPSO player said in a stock market announcement.

Northport expects to recover from weak volumes in the first half and sees traffic picking up again in the fourth quarter, local reports quoted ceo Azman Shah Mohd Yusof as saying.

The Kuala Lumpur High Court has ruled in favour of PDZ Holdings over writs filed by three creditors against the company over alleged non-payment of bunker fuel supplied to its vessel PDZ Mewah.

A jump in marine business revenue from the start of charter of the FPSO John Agyekum Kufuor (FPSO JAK) in June combined with the stronger US Dollar to lift Yinson Holdings' to a 38.5% rise in net profit for the FY18 second quarter ended 31 July to MYR83.6m ($19.8m) from MYR60.4m previously.

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