As part of its initiative to boost the capabilities of local companies in Malaysia’s oil and gas industry, PETRONAS today launched VDPx - a new vendor development scheme under the company’s existing Vendor Development Programme (VDP) to be implemented in collaboration with major industry players in the country.

Under this new VDP scheme, a total of 18 organisations, comprising six Petroleum Arrangement Contractors (PACs) and 12 Oil & Gas Service and Equipment (OGSE) companies, will replicate PETRONAS’ VDP programme, to reach out to more local vendors and further amplify its benefits to the industry as well as the nation.

The Financial Services Professional Board (FSPB) has issued an Exposure Draft to invite comments prior to finalisation of a proposed standard on Continuing Professional Development (CPD) for the financial services industry (FSI). The main objective in developing the standard (Standard) for the FSI is to provide a minimum requirement and good practice on CPD for Professional Bodies/Associations.

A standard on CPD that is applicable across the FSI will provide the guidance on CPD requirements for both Professional Bodies/Associations and individuals through their respective memberships. A draft CPD Standard was presented to a Working Group comprising representatives from professional bodies and industry associations covering the four sectors of banking, insurance, Islamic finance and capital markets.

Sime Darby Industrial Sdn Bhd (SDI) is targeting to capture 15 percent of the market share for 20-tonne excavators in Malaysia by June 2019, following the launch of Caterpillar’s new Next Generation Cat Excavators – the Cat 320 and Cat 320 GC.

The two new excavators, which will be making their maiden entry into the Malaysian heavy equipment market, are the culmination of Caterpillar’s 25 years of research, testing hundreds of machines and reflecting the views expressed by its customers over the years.