Borneo

AM Best Affirms Credit Ratings of Labuan Reinsurance (L) Ltd

Retrieved on: 
Thursday, December 3, 2020
Professional services, Insurance, Finance, Finance, Credit rating agencies, Southeast Asia, Actuarial science, Borneo, British Borneo, Labuan, Maritime Southeast Asia, Credit rating, Geography of Asia, AM Best, Reinsurance

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of a- of Labuan Reinsurance (L) Ltd (Labuan Re) (Malaysia).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of a- of Labuan Reinsurance (L) Ltd (Labuan Re) (Malaysia).
  • Partially offsetting balance sheet factors include Labuan Res modest-sized absolute capital base and limited internal capital generation over recent years.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

CGG: CGG Awarded Large Offshore Malaysia Seismic Reprocessing Contracts by PTTEP

Retrieved on: 
Tuesday, November 17, 2020
Borneo, British Borneo, Maritime Southeast Asia, States of Malaysia, Southeast Asia, Geography of Asia, CGG, Reprocessing, PTT Exploration and Production, Sabah, Sarawak

Subsurface Imaging, part of CGGs Geoscience division, has been awarded two large-scale complex seismic reprocessing contracts by PTTEP.

Key Points: 
  • Subsurface Imaging, part of CGGs Geoscience division, has been awarded two large-scale complex seismic reprocessing contracts by PTTEP.
  • PTTEP is investing in the rejuvenation of pre-existing data sets from two regions offshore Malaysia by leveraging CGGs recognized high-end imaging technology and long-standing processing experience in SE Asia.
  • Over the course of the next year, CGG, through its offices in Kuala Lumpur, will conduct merged reprocessing of surveys from many vintages, including towed-streamer and OBC seismic data from offshore Sabah and Sarawak.
  • The fast-track products are expected by mid-next year and final workstation products will be delivered by the end of 2021.

The Orangutan Project poised to secure survival of rehabilitated Bornean orangutans with newly protected habitat

Retrieved on: 
Saturday, November 14, 2020
Borneo, Fauna of Asia, Environment of Indonesia, Bornean orangutan, East Kalimantan, Sabah, Sarawak, Orangutan, Borneo Orangutan Survival, Australian Orangutan Project

The rainforest is lowland and riverine, making it prime habitat for Critically Endangered Bornean orangutans.

Key Points: 
  • The rainforest is lowland and riverine, making it prime habitat for Critically Endangered Bornean orangutans.
  • The proposed newly protected concession will be an important part of The Orangutan Project's goal to help secure the survival of Bornean orangutans.
  • "Even before the COVID-19 crisis led to a spike in deforestation, Bornean orangutans were facing disaster," said Leif Cocks, founder and president of The Orangutan Project.
  • This year, The Orangutan Project and partner, the Centre for Orangutan Protection also created the Bornean Orangutan Rescue Alliance (BORA) to provide urgent assistance to highly vulnerable, displaced orangutans, and to confiscate illegally held orangutans.

Rayont Inc. acquires Rayont International (Labuan) Inc to Grow and Consolidate its Healthcare and Cancer Treatment Portfolio.

Retrieved on: 
Wednesday, September 30, 2020
Southeast Asia, Geography of Asia, Borneo, British Borneo, Maritime Southeast Asia, Labuan

Under the agreement, Rayont acquired 100% outstanding shares of RIL for the aggregated amount ofUSD 1.8 Million.

Key Points: 
  • Under the agreement, Rayont acquired 100% outstanding shares of RIL for the aggregated amount ofUSD 1.8 Million.
  • Rayont shall issue shares equivalent to the acquisition amount based on share price closed on September 29, 2020.
  • Rayont International (Labuan) Inc is an on offshore company incorporated in Labuan, Malaysia which offers attractive 3% tax on profit.
  • The Rayont Inc plans to grow its healthcare portfolio by identifying, acquiring and integrating others assets in the healthcare area.

Nestlé Highlights Nature-based Solutions at Climate Week NYC 2020

Retrieved on: 
Tuesday, September 22, 2020
States and federal territories of Malaysia, Borneo, Maritime Southeast Asia, Kinabatangan, Reforestation, Sabah, Southeast Asia, Geography of Asia

ARLINGTON, Va., Sept. 22, 2020 /PRNewswire/ --Restoring and protecting forests is one of the ways Nestl is harnessing nature to fight climate change.

Key Points: 
  • ARLINGTON, Va., Sept. 22, 2020 /PRNewswire/ --Restoring and protecting forests is one of the ways Nestl is harnessing nature to fight climate change.
  • This week Nestl announced its latest reforestation initiative Project RELeaf, a program that will plant three million indigenous trees in Malaysia over the next three years.
  • Nestl will invest approximately $4.4 million (equivalent to CHF 4 million)1 into Project RELeaf over the three-year period.
  • Project RELeaf builds on the pioneering Kinabatangan Rileaf Project, established by Nestl in 2011, which helped plant one million trees in Sabah.

Western Union Expands with TrueMoney in the Philippines

Retrieved on: 
Tuesday, July 21, 2020
Finance, Banking, Professional services, Other Technology, Technology, Southeast Asia, Countries, Geography of Asia, Maritime Southeast Asia, Island countries, Member states of the Association of Southeast Asian Nations, Member states of the United Nations, Borneo, Western Union, Philippines, BRUNEI, Western Union, TrueMoney

Western Union , a leader in cross-border, cross-currency money movement and payments, today announced a collaboration with TrueMoney , a leading financial services provider in the Philippines, enabling customers in the Philippines to receive money from their loved ones around the world.

Key Points: 
  • Western Union , a leader in cross-border, cross-currency money movement and payments, today announced a collaboration with TrueMoney , a leading financial services provider in the Philippines, enabling customers in the Philippines to receive money from their loved ones around the world.
  • At Western Union, we are committed to doing everything we can to serve our customers and communities, here in the Philippines and across the world, said Jeffrey Navarro, Head of Network, Philippines, Malaysia, Brunei & Indochina, Western Union.
  • Hence, its critical in these times to move money responsibly, and we are glad to do so with Western Union, said Eugene Go, Chief Executive Officer & Country Managing Director, Philippines, TrueMoney.
  • Western Union serves customers from a large network of Agent locations offering unparalleled convenience to customers in the Philippines.

McDermott Completes Pan Malaysia Transportation and Installation Projects

Retrieved on: 
Monday, June 8, 2020
British Borneo, Southeast Asia, Geography of Asia, Borneo, Maritime Southeast Asia, Miri, Malaysia, Sarawak

HOUSTON, June 8, 2020 /PRNewswire/ -- McDermott International, Inc. today announced the completion of the Pan Malaysia Transportation and Installation Projects for Sarawak Shell Berhad and SapuraOMV, located offshore Miri, Sarawak.

Key Points: 
  • HOUSTON, June 8, 2020 /PRNewswire/ -- McDermott International, Inc. today announced the completion of the Pan Malaysia Transportation and Installation Projects for Sarawak Shell Berhad and SapuraOMV, located offshore Miri, Sarawak.
  • Awarded in November 2018, the Pan Malaysia Transportation and Installation Projects included the transport and installation of jackets, topsides and pipelines for the Gorek, Larak and Bakong gas fields.
  • "The National Council for Occupational Safety and Health and the Department of Occupational Safety and Health in Malaysia recognized these resultsnaming McDermott as a finalist for its work on the Pan Malaysia Transportation and Installation projects."
  • Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning.

The Orangutan Project launches new rescue alliance to fight illegal wildlife trade

Retrieved on: 
Thursday, May 14, 2020
Borneo, Mammals, Animals, Poaching, Orangutans, Bornean orangutan, Sumatran Orangutan Conservation Programme

"The Sumatran Rescue Alliance has been launched to help authorities fight back against the illegal trade of critically endangered orangutans," said Leif Cocks, president and founder of The Orangutan Project.

Key Points: 
  • "The Sumatran Rescue Alliance has been launched to help authorities fight back against the illegal trade of critically endangered orangutans," said Leif Cocks, president and founder of The Orangutan Project.
  • For several decades, illegal poaching syndicates have been smuggling critically endangered orangutans out of Indonesia for wealthy international buyers.
  • The Sumatran Rescue Alliance has a goal to raise $160,000 to build the rescue center and operate it for the first year.
  • All donations to the Sumatran Rescue Alliance and The Orangutan Project are tax-deductible.

Aker Solutions Secures Brownfield Services Contract in Brunei

Retrieved on: 
Monday, March 30, 2020
Countries, Geography of Asia, Southeast Asia, Municipalities in Brunei, Borneo, Aker, Belait, BRUNEI

OSLO, Norway, March 30, 2020 /PRNewswire/ -- Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).

Key Points: 
  • OSLO, Norway, March 30, 2020 /PRNewswire/ -- Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).
  • The work will be managed from PTAS Aker Solutions Sdn Bhd's office in Kuala Belait, Brunei Darussalam.
  • Since Aker Solutions secured the Offshore Reliability Maintenance and Construction contract for Brunei Shell Petroleum in 2012, the company has continuously improved the service delivery and introduced new working methods and technology to Brunei Shell Petroleum.
  • Aker Solutions currently employs more than 340 people in Brunei and manages 2,300 though local subcontractors.

Aker Solutions Secures Brownfield Services Contract in Brunei

Retrieved on: 
Monday, March 30, 2020
Countries, Geography of Asia, Southeast Asia, Municipalities in Brunei, Borneo, Aker, Belait, BRUNEI

OSLO, Norway, March 30, 2020 /PRNewswire/ -- Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).

Key Points: 
  • OSLO, Norway, March 30, 2020 /PRNewswire/ -- Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).
  • The work will be managed from PTAS Aker Solutions Sdn Bhd's office in Kuala Belait, Brunei Darussalam.
  • Since Aker Solutions secured the Offshore Reliability Maintenance and Construction contract for Brunei Shell Petroleum in 2012, the company has continuously improved the service delivery and introduced new working methods and technology to Brunei Shell Petroleum.
  • Aker Solutions currently employs more than 340 people in Brunei and manages 2,300 though local subcontractors.