Business

Hibiscus Petroleum Bhd’s indirect wholly owned subsidiary Hibiscus Oil and Gas Malaysia Ltd (HML) has been awarded a 65 per cent participating interest and operatorship in a production sharing contract by Petronas. In a filing with Bursa Malaysia today, Hibiscus said the remaining participating interest is held by Petronas Carigali Sdn Bhd, while the effective date of the production sharing contract is July 1, 2024, with a contract duration of 24 years. ‘The production sharing contract comprises four discovered resource opportunities (DRO) in the Pertang, Kenarong, Noring and Bedong fields, located in shallow waters between 65 and 75 metres depth

National carmaker Proton has recently kicked off its RM253 million expansion project, adding new stamping facilities in Tanjong Malim, which will be known as Stamping E and F-Line. In a statement today, Proton said the project will increase the volume of parts stamping at Proton Tanjong Malim as the company prepares to relocate production of the Proton Saga from Shah Alam by 2026. The expansion is also expected to accommodate growing overall production volumes and any new models to be introduced in the near future. ‘This is the second planned expansion to Proton’s parts stamping capabilities in recent years after

The government has agreed to give six-month grace period to taxpayers from the date of mandatory implementation of e-Invoicing which started on Aug 1, said Inland Revenue Board (IRB) chief executive officer Datuk Abu Tariq Jamaluddin. He said the grace period was given to ensure the smooth implementation of e-Invoicing. ‘It is given to taxpayers for six months from the date of mandatory implementation of e-Invoices to issue consolidated e-Invoices for all transactions. “Through the grace period, the IRB allows all activities or industries to only issue consolidated e-Invoices,” he said at a special press conference on the implementation of

Kotex Malaysia, renowned for its menstrual hygiene products, has launched its latest innovation, Kotex Total Protection, featuring the revolutionary Anti Leak Back Cushion technology to offer up to 100 per cent protection against back leaks during nighttime periods. Kotex Malaysia’s brand manager, Michelle Chin, said her team dedicated approximately two years to conducting research and studies to develop a product that meets customers’ needs. ‘As a result of our studies on consumer insights, we found out that preventing period or back leaks during the night remains the top priority for women during their period and needs to be addressed. ‘After

Petroliam Nasional Bhd (Petronas), Enilive S.p.A and Euglena Co Ltd will jointly develop a biorefinery within the Pengerang Integrated Complex (PIC), to be operational by the second half of 2028 (2H 2028). A joint venture company will be established in Malaysia to construct and operate the biorefinery, with Petronas subsidiary Petronas Mobility Lestari Sdn Bhd and Enilive, a company directly controlled by Eni S.p.A., as the largest shareholders. The biorefinery will produce sustainable aviation fuel (SAF) and other biofuels such as renewable diesel/ hydrogenated vegetable oil (HVO) to cater to global aviation and transportation industries’ demand by tapping each partner’s