Malaysian ratings agency RAM Ratings has forecast that about MYR5bn ($1.2bn) would be needed over the next five years for the expansion of Kuantan Port, Sapangar Bay Container Port (SBCP) and Port of Tanjung Pelepas (PTP).
Five top management officials of the Port of Tanjung Pelepas (PTP) are expected to be questioned over the release of a container with high-tech military radar equipment without following proper procedures, local media reported.
Malaysian energy services firm Sapura Energy said its Australian unit Sapura Energy Australia has successfully completed the Shell Prelude Light Well Intervention (LWI) Campaign – Plug Removal Activity for Shell Australia in the Browse Basin, north of Broome, Western Australia.
Fresh from the cancelling of a contract in West Africa,Malaysian oil and gas services firm Bumi Armada received some respite as its Armada Kraken floating production storage and offloading (FPSO) unit achieved first oil on the Kraken field in the UK North Sea.
The hijack-and-siphon trick seems to be making a resurgence in Southeast Asian waters with reports of a group of armed pirates attacking a Thai product tanker and making off with 1.5m litres of diesel last Friday.
A bunker fuel dealer from Sungai Petani in Kedah in the northern part of Peninsula Malaysia has fallen victim to an e-mail payment scam and lost $1.1m.
The removal of Malaysia's 30-year-old cabotage policy for Sabah, Sarawak and Labuan has been slammed by local shipping lines as disastrous for the industry and a political tool to gain votes while likely to have little effect on its stated purpose of reducing the high cost of consumer goods in the three territories to the east of Peninsular Malaysia.
Malaysia's resource-rich eastern states seem to be getting more assertive in taking control of their oil and gas resources, with local media reporting that Sarawak's state government is planning to establish a state-owned offshore oil and gas exploration company in order to participate in the industry.