Newly-listed UMW Oil & Gas, turned in a net profit of MYR50.9m ($15.5m) for the fourth quarter ended 31 December 2013, mainly boosted by its drilling services segment, the company said in a stock market announcement.
Major offshore services player Bumi Armada saw full-year net profit rise 12% to MYR431.2m ($130.5m) from MYR385.8m previously on continued strength in the FPSO segment. Strong contract wins including its breakthrough Kraken Field deal meanwhile...
The key waterway linking Asian and European trade, the Malacca Straits, is a barometer for the health of world trade. Traffic volumes in the Straits peaked in 2008, falling back sharply in 2009 as the global financial crisis took its toll on trade...
Malaysian offshore vessel builder Nam Cheong has contracted five newbuildings worth $70m for sale to Sentinel Marine.
UMW Oil & Gas Corp has allocated MYR1bn ($300m) for capital expenditure (capex) this year to strengthen its drilling rig business locally as well as for its expansion plans where it is currently in various stages of bidding for contracts worth...
Highly ambitious Yinson Holdings is seen to be taking prudent steps and is to launch a fundraising exercise to reduce its debts, local reports said.
Malaysian offshore shipyard TAS Offshore saw profits triple to MYR7.3m ($2.2m) for its financial year second quarter ended 30 November 2013 from MYR2.4m previously as it recognised revenue from the sale of a harbour tug.
Tanjung Langsat Port is ramping up its capabilities and aiming to take a larger slice of the liquid bulk market in Johor with expected investments from up to seven regional and international investors after the completion of its two new berths in...
Removing any future uncertainty, the Malaysian government and Port Klang Authority (PKA) have agreed to extend Westports Holdings Bhd concession period by another 30 years
UMW Oil & Gas Corp (UMWOG) continues to see steady employment for its newbuilding rigs coming onstream, securing a $7m drilling contract from Nido Petroleum Philippine.