RM70bil for Pengerang

HOW many of us set out to achieve the impossible? This involves goals that seem too difficult to conquer but could bring us great benefit if we manage to pull through and get to the finishing line.

Back in June 2010, we held a lab to determine the way forward for the oil, gas and energy sector under the Economic Transformation Programme (ETP). One of the ideas mooted then was for us to build a regional oil and gas hub in south Johor by developing the Pengerang Integrated Petroleum Complex (PIPC).

Subsequently, more than 13,000 people who attended the ETP Open Days following the conclusion of the lab in 2010 told us they felt this would be good for the country.

But that was all it was in 2010 – an idea. If we were going to do this, we would have to start from scratch.

A few weeks ago, I had the opportunity to visit Pengerang. It was both humbling and really amazing to see how an idea that seemed so remote four years ago can take shape when you have all the right ingredients. Here, the private sector, the Government and the people are working hand in hand to build a project which will eventually be a game changer in the way we use our petroleum products to capture the most value from it.

But first, a little bit about PIPC itself. This project is one of the more important components of our programme to transform Malaysia into the ranks of a developed country by 2020 – achieving a per capita income of US$15,000 from US$6,700 in 2009. That effectively means an annual increase in gross national income per capita of at least 6% a year from 2009.

To facilitate this growth in income, we have identified 12 growth areas to spearhead rapid economic development. Oil, gas and energy is one of these areas. We want to continue with domestic oil and gas production, grow in downstream ventures and make Malaysia the No. 1 hub for oil field services while exploring alternative energy sources.

Pengerang is a key and vital part of this thrust. It will help to create an oil storage and trading hub and increase petrochemical output.

This will be done first by building a deep-water jetty and storage facilities to accommodate the inflow of raw materials to processing plants and the subsequent outflow of the products to destinations within and outside the country.

What is already happening is that the deep-water jetty and oil and petrochemical storage tanks are already being developed. Meanwhile, Petronas’ Refinery and Petrochemicals Integrated Development is showing good progress on the ground.

Pengerang currently has RM69bil worth of projects in the pipeline. This accounts for 33% of investment costs of all our entry point projects and nearly 70% of those in the oil, gas and energy sector. These will serve as catalysts for economic growth and development in selected areas. Ultimate investment over time could be as high as RM170bil, including the committed RM69bil.

Using just committed investment figures, we estimate that the PIPC will contribute RM18.3bil to 2020 gross national income and create 8,600 jobs. The eventual income could be higher depending on how well catalytic efforts work.

Now for some progress updates. For the Pengerang deep-water petroleum terminal, Phase 1 of the project work started in early 2011, with 500 acres of sea area to be reclaimed. Current engineering, procurement, construction and commissioning works is at 92% as at Feb 25. This includes dredging and reclamation, marine facilities (for example jetty construction) and tank terminal construction.

Phase 1, which is on 150 acres of reclaimed land, will have a storage capacity of 1.3 million cu m of petroleum products. First oil commissioning will be in the first half of this year.

Rapid project site clearance and preparation effort is broken down to two phases covering different areas within the 6,300 acres. Overall progress for Phase 1 site clearance and preparation as at Feb 20 is 68%, just over two thirds complete. The final investment decision is expected to be made by the end of this month.

Admittedly, there have been delays but a few months is not a lot in the overall scheme of things for a project this complex which requires substantial attention to infrastructure needs that have to be set up from scratch, as well as requirements of residents already in the affected areas.

There are 30 separate infrastructure and public amenities projects currently being implemented. They include the upgrading of the existing dual-lane single carriageway to dual lane and the construction of a new dual-lane carriageway.

At the same time, a temporary road will be constructed to facilitate project development. The new roads are expected to be completed by mid-2016.

The Star Online Monday March 10, 2014 MYT

Positive view on AirAsia, AirAsia X

AVIATION SECTOR By Maybank Investment Bank Research (Maybank IB)

ALTHOUGH results for aviation players in the final quarter of 2013 (Q413) were a big disappointment, Maybank IB is optimistic about 2014.

“Capacity supply growth in 2014 will be modest in comparison to 2013, as the industry is deploying fewer aircraft than initially planned.

“Forward yield indicator suggests we are climbing out from the bottom, and fuel prices are trending lower,” said the research house, which result in a better operating environment for 2014.

The research unit gathered that airlines had plans to cut their fleet growth as they employed a cautious approach. It estimated capacity traffic growth of 9% to 10% in 2014.

“There is an end in sight for the current fare war, and we believe Q413 was the peak, and Q114 is the final quarter.”

Street forecast for jet fuel was lowered to US$122 to US$125 per barrel this year, which is 1.1% lower than US$126.4 per barrel in 2013.

Buyyyyy..........

my TP is RM1.10......

JOHOR BARU: Johor-based Seaview Holdings Sdn Bhd will develop the Damansara Realty Bhd’s (DBhd) parking business.

Chairman Datuk Daing A. Malek Daing A. Rahaman said the company would work with new strategic partners to expand the parking business of DBhd’s wholly-owned subsidiary Metro Parking Sdn Bhd in Malaysia and the Asean region.

“We see great potential in the business that offers healthy cash flow for the company,” he said at the signing of the share sale agreement (SSA) with Johor Corp (JCorp) here yesterday. Metro Parking is involved in car park management and provision of car park consultancy services with operations in Malaysia, Singapore, Brunei, the Philippines, Hong Kong and India.

It manages various types of car parks including at airports, office buildings, shopping complexes, hotels, transport terminals, wet markets, hospitals, open sites, a jetty terminal, sports centres, recreational areas and local council on-street parking.

Daing A. Malek signed on behalf of Seaview while JCorp was represented by its senior vice-president and chief operating officer Zulkifli Ibrahim.

The event was witnessed by Seaview executive director Syed Omar Syed Mohamed and JCorp president and chief executive officer Datuk Kamaruzzaman Abu Kassim.

Under the SSA, the company would acquire 51% or 158 million DBhd shares held by JCorp for RM79mil which would trigger a mandatory general offer once the SSA becomes unconditional. Both parties expect the conditions precedents set out in the SSA to be satisfied with a month.

“We will maintain the listing status (of DBhd) upon the completion of the exercise and will continue to enhance its value proposition and potential,” said Daing A. Malek.

He said the company also planned to rejuvenate DBhd’s property and construction divisions as they were largely untapped and have the potential to grow further.

Daing A. Malek said going forward, it would actively be involved in the economic activities in Iskandar Malaysia and the Pengerang Integrated Petrochemical Complex in Kota Tinggi.

The shareholders of Seaview are Daing A. Malek, Abdul Aziz and Daing Abdul Rahim.

RM70bil for Pengerang Monday March 10, 2014 MYT 7:36:45 AM
HOW many of us set out to achieve the impossible? This involves goals that seem too difficult to conquer but could bring us great benefit if we manage to pull through and get to the finishing line.

Back in June 2010, we held a lab to determine the way forward for the oil, gas and energy sector under the Economic Transformation Programme (ETP). One of the ideas mooted then was for us to build a regional oil and gas hub in south Johor by developing the Pengerang Integrated Petroleum Complex (PIPC).

Subsequently, more than 13,000 people who attended the ETP Open Days following the conclusion of the lab in 2010 told us they felt this would be good for the country.

But that was all it was in 2010 – an idea. If we were going to do this, we would have to start from scratch.

A few weeks ago, I had the opportunity to visit Pengerang. It was both humbling and really amazing to see how an idea that seemed so remote four years ago can take shape when you have all the right ingredients. Here, the private sector, the Government and the people are working hand in hand to build a project which will eventually be a game changer in the way we use our petroleum products to capture the most value from it.

But first, a little bit about PIPC itself. This project is one of the more important components of our programme to transform Malaysia into the ranks of a developed country by 2020 – achieving a per capita income of US$15,000 from US$6,700 in 2009. That effectively means an annual increase in gross national income per capita of at least 6% a year from 2009.

To facilitate this growth in income, we have identified 12 growth areas to spearhead rapid economic development. Oil, gas and energy is one of these areas. We want to continue with domestic oil and gas production, grow in downstream ventures and make Malaysia the No. 1 hub for oil field services while exploring alternative energy sources.

Pengerang is a key and vital part of this thrust. It will help to create an oil storage and trading hub and increase petrochemical output.

This will be done first by building a deep-water jetty and storage facilities to accommodate the inflow of raw materials to processing plants and the subsequent outflow of the products to destinations within and outside the country.

What is already happening is that the deep-water jetty and oil and petrochemical storage tanks are already being developed. Meanwhile, Petronas’ Refinery and Petrochemicals Integrated Development is showing good progress on the ground.

Pengerang currently has RM69bil worth of projects in the pipeline. This accounts for 33% of investment costs of all our entry point projects and nearly 70% of those in the oil, gas and energy sector. These will serve as catalysts for economic growth and development in selected areas. Ultimate investment over time could be as high as RM170bil, including the committed RM69bil.

Using just committed investment figures, we estimate that the PIPC will contribute RM18.3bil to 2020 gross national income and create 8,600 jobs. The eventual income could be higher depending on how well catalytic efforts work.

Now for some progress updates. For the Pengerang deep-water petroleum terminal, Phase 1 of the project work started in early 2011, with 500 acres of sea area to be reclaimed. Current engineering, procurement, construction and commissioning works is at 92% as at Feb 25. This includes dredging and reclamation, marine facilities (for example jetty construction) and tank terminal construction.

Phase 1, which is on 150 acres of reclaimed land, will have a storage capacity of 1.3 million cu m of petroleum products. First oil commissioning will be in the first half of this year.

Rapid project site clearance and preparation effort is broken down to two phases covering different areas within the 6,300 acres. Overall progress for Phase 1 site clearance and preparation as at Feb 20 is 68%, just over two thirds complete. The final investment decision is expected to be made by the end of this month.

Admittedly, there have been delays but a few months is not a lot in the overall scheme of things for a project this complex which requires substantial attention to infrastructure needs that have to be set up from scratch, as well as requirements of residents already in the affected areas.

There are 30 separate infrastructure and public amenities projects currently being implemented. They include the upgrading of the existing dual-lane single carriageway to dual lane and the construction of a new dual-lane carriageway.

At the same time, a temporary road will be constructed to facilitate project development. The new roads are expected to be completed by mid-2016.

For water supply, a new dam with 88 km of pipelines will be constructed to provide raw water for the PIPC. The target completion for this is by the first quarter of 2016. This dam will supply the project itself as well as provide add

PM Najib said the O&G sector is to emerge as the "Rising Star" as the expectation was based on massive RM61billion RAPID project in Pengerang got off the ground by year end. So, that mean Petronas definitely will approve the RAPID project in the coming soon FID meeting...... DBHD will be the RISING STAR..!

Xenolover any responses from Greyson.......

We love and support Malaysia aviation company buy AAX..........

Ahkeng71 Any problem make AAX heavy drop............mind to share

MAS Share price will be affected, AAX will be Malaysia aviation Tai koh.........

Merge with other stronger Airline, can be a good move for Malaysia.
But bad move for Investors.
Nevertheless, investors no say as more than 90% MAS share in Khazanah and PNB.
Well, that is meaning to be DELISTED soon.
It may only benefit the Private Mas company only.
Later after MERGER, THAN RELISTING AGAIN.
GOOD MOVE FOR COMPANY BUT BAD FOR SHAREHOLDERS.

since MAS is kaput, AAX got plenty of oppurtunity, many many good day is ahead........

DBHD lack of power......reversal

National oil company Petronas have committed RM60 billion to develop RAPID refinery and petrochemical intergrated development in Pengerang.

LITTLE is known of Johor-based Seaview Holdings Sdn Bhd – the company that will be taking up a majority stake in Damansara Realty Bhd (D-Realty) from state investment arm Johor Corp Bhd – except that it is partly owned by an individual with links to the state’s royal family.

Datuk Daing A Malek Daing A Rahaman, one of the two main shareholders of Seaview, is a member of the Council of the Royal Court of Advisers to the Sultan of Johor. He is said to be a long-time friend to the present Sultan and his father.

He has several business interests such as in Spektrum Budi Sdn Bhd and Spektrum Kukuh Sdn Bhd which he shares with a member of the Johor royalty.

Spektrum Budi and Spektrum Kukuh are both partly-owned subsidiaries of Benalec Holdings Bhd, and are actively involved in the land reclamation project in the future oil and gas hub in Pengerang, Johor.

Daing A Malek also shares a company with the Sultan of Johor in SIPP Energy Sdn Bhd. Sultan Ibrahim Ismail owns a 51% stake in the power generation company, while the former owns a 24.5% stake.

More importantly, Daing A Malek is a major shareholder in Astaka Padu Sdn Bhd, with an 80% stake in the Johor-based property development and construction company he co-founded in 1993.

Astaka Padu has mixed development projects in the state’s development corridor Iskandar Malaysia and capital Johor Baru.

In the company’s website, Daing A Malek and senior executives in Astaka Padu, the list of which includes the company’s CEO Datuk Zamani Kasim, pride themselves as the “pioneers” of Iskandar Malaysia.

Abdul Aziz Daing Rahman – the joint owner of Seaview – also has a stake in Astaka Padu, with 8.75% interests in the latter.

Many believe Seaview’s entry into D-Realty will provide a “royal boost” to the latter, and enhance the business proposition of company.

Muhibbah Infra order book should recover in FY14. Muhibbah's outstanding order book stood at RM1.8bn at end-FY13, comprising RM719m for infra, RM1.1bn for cranes (all-time high) and RM47m for shipyard. We expect Muhibbah's shipyard orders to rise in line with the pick-up in domestic chartering contracts for O&G. We gather that the continuous construction of offshore O&G structures, particularly rigs and platforms, has created pent-up demand for vessel orders. We also expect an uptick in orders from the civil/infra segment in 2014 to comprise the bulk of the group's estimated RM4bn-5bn tender book. Our base case assumption of RM1bn new job wins in 2014 remains intact

DBHD more project in pipeline Daing A. Malek said going forward, it would actively be involved in the economic activities in Iskandar Malaysia and the Pengerang Integrated Petrochemical Complex.......

Seaview Holdings, which has an authorised capital of RM20 million and paid-up capital of RM10 million, is controlled by Datuk Daing A. Malek Daing A. Rahaman, Abd Aziz Daing Rahman and Daing Abd Rahim Daing A. Rahman

Read more: Seaview offers to buy 51pc DBhd stake from JCorp - Nation - New Straits Times http://www.nst.com.my/business/nation/seaview-offers-to-buy-51pc-dbhd-stake-from-jcorp-1.486722#ixzz2vFhz5we4

http://www.theedgemalaysia.com/business-news/278957-johor-based-seaview-set-its-sights-on-iskandar-msia-and-rapid-projects.html

Seaview is controlled by Datuk Daing A. Malek Daing A. Rahaman, Abd Aziz Daing Rahman and Daing Abd Rahim Daing A. Rahman. Daing A.Malek is a member of the Council of the Royal Court Adviser to the Johor Sultan.........

SeaView Holdings Sdn Bhd to purchase its 51% stake in the company for 50 sen a share.....

0.80 as low as 35% from IPO price......

i do the same as you collect it little by little hope is the right way.....

KNM lack of power today but watch on this week sure can achieve 0.75......

we have to trust Tony Fernandez can manage good of AAX not for short invest but for long investment.

good prospective of Muhibbah, right time to return to Muhibbah......

KNM Should up to RM0.75 soon. Watch the show........

AAX price is stable now maybe is the right time to buy more.....