Petronas Acquires 30% Equity in Senegal's Rufisque Offshore Profond Exploration Block

 |  Tuesday, 14 August 2018 14:57  |  Published in CORPORATE

PETRONAS through its subsidiary PC Senegal Ltd, recently signed a Farm-in Agreement with TOTAL E&P Senegal SAS, a subsidiary of TOTAL, to acquire a 30% participating interest in the Rufisque Offshore Profond block, marking its entry into Senegal.

TOTAL will maintain operatorship with 60% equity alongside Société Nationale des Pétroles du Sénégal (Petrosen) which holds the remaining 10%.

New Acquisitions Boosted Sunway Reit’s Distribution Per Unit in Fy2018

 |  Friday, 10 August 2018 12:12  |  Published in CORPORATE

Sunway REIT has delivered a set of commendable financial results for the financial year ended 30 June 2018. Revenue rose 7.2% year-on-year (y-o-y), from RM522.9 million in FY2017 to RM560.4 million in FY2018, underpinned by retail segment and new income contribution from newly completed acquisitions.

Net property income (NPI) expanded by 8.0% y-o-y to RM419.9 million. The topline growth was partially offset by higher interest cost during the year on the back of debt drawn down to fund acquisitions and capital expenditure.

Kumpulan Perangsang Selangor 30%-associate accepts Air Selangor takeover offer for SPLASH

 |  Friday, 10 August 2018 12:11  |  Published in CORPORATE

Diversified group Kumpulan Perangsang Selangor yesterday announced that its 30% associate company Syarikat Pengeluar Air Selangor Holdings Berhad (“SPLASH Holdings”) has accepted a takeover offer from Pengurusan Air Selangor Sdn Bhd (“Air Selangor”) to acquire 100% equity interest of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (“SPLASH”).

The proposed takeover, announced on 3 August 2018, entails Air Selangor acquiring from SPLASH Holdings the entire 50 million ordinary shares and 350 million redeemable unsecured loan stocks (“RULS”) of SPLASH for a total purchase consideration of RM2.55 billion.

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