Notwithstanding the challenging market environment, Permodalan Nasional Berhad (PNB) has been able to report a positive financial performance for the period ended 31 August.
Total assets under management is up by 7.3 per cent year-on-year to RM288.1 billion while the pro forma consolidated net income increased by 2.6 per cent year-on-year to RM10.3 billion.
PETRONAS, through its subsidiary PETRONAS Lubricants International (PLI), opened its Research and Technology Centre in Latin America, the largest facility dedicated to the development of fluid technology to meet the region’s automotive and industrial sector’s growing needs.
The Research & Technology (R&T) facility located at the PETRONAS Lubricants Brazil’s blending plant Contagem, Minas Gerais, focuses on development of the latest industrial fluids, lubricants and greases, while serving as a centre for technical expertise, customer assistance, product management and quality control activities.
TDM Bhd announced that it will undertake a debt rationalisation exercise which will involve the full settlement of the outstanding Indonesian Rupiah Notes (“IDR Notes”) held by the Group’s Indonesian subsidiary, PT Rafi Kamajaya Abadi (“PT RKA”).
Under the debt rationalisation exercise, the Group will utilize a USD105 million (equivalent to RM434.3 million based on exchange rate of US$1 : RM4.14) credit facility in the form of a Foreign Currency Revolving Credit-i (“FCRC-i”) Commodity Murabahah to fully settle the Group’s outstanding IDR Notes used for TDM’s plantation operations in Kalimantan, Indonesia.