Bumi Armada Achieves Final Acceptance on The Armada Kraken FPSO

 |  Wednesday, 12 September 2018 12:38  |  Published in CORPORATE

Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad (“Bumi Armada” or “the Group”) last week announced that its Armada Kraken Floating Production Storage and Offloading (“FPSO”) vessel has been issued with the final acceptance certificate (“Final Acceptance”).

Final Acceptance was completed in accordance with the requirements set out in the bareboat charter contract dated 20 December 2013 (as supplemented by Amendment Agreement Number One, dated 19 August 2016, and Amendment Agreement Number Two, dated 27 August 2018) (“Bareboat Charter”).

Priceworth International's net profit jumps 196% in FY2018

 |  Friday, 07 September 2018 12:25  |  Published in CORPORATE

Priceworth International Bhd’s posted a higher net profit by 196 per cent for financial year ended June 30, 2018 (FY18) to RM13.84 million from RM4.70 million a year ago.

The timber and forestry group said in a Bursa Malaysia filling, the surge in earnings was mainly due to higher other income and the improvement in revenue.

CIMB Group Chalks a Record RM3.29 billion 1H18 Net Profit

 |  Thursday, 30 August 2018 12:10  |  Published in CORPORATE

CIMB Group Holdings Berhad reported a record net profit of RM3.29 billion in the first half of 2018 (1H18).

It is bolstered by a gain from the sale of 20% of CIMB-Principal Asset Management (CPAM) and 10% of CIMB-Principal Islamic Asset Management (CPIAM) amounting to RM928 million and this raised the Group’s 1H18 Return On average Equity (ROE) to 11.5%, and reduced its Cost-to-Income Ratio (CIR) to 46.1%.

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