PETALING JAYA: Sapura Energy Bhd image: https://cdn.thestar.com.my/Themes/img/chart.png ’s shares rose after it announced it had secured RM1.3bil worth of new jobs.The oil and gas counter, which was briefly suspended yesterday pending the announcement, gained one sen to close at 34.5 sen. It was the most actively traded counter, with 312.4 million shares changing hands. In […]

KUALA LUMPUR: Malaysian Rating Corporation (MARC) has affirmed its corporate credit rating on Tenaga Nasional Bhdimage: https://cdn.thestar.com.my/Themes/img/chart.png (TNB) at AAA and its sukuk rating on the power giant’s RM2bil Al-Bai’ Bithaman Ajil Bonds at AAAIS. It said on Friday the ratings outlook was stable. TNB’s ratings benefit from a two-notch uplift to reflect MARC’s assessment […]

MANILA, Philippines — Aboitiz Power Corp. has inked a $300-million facility agreement with four foreign banks to partially finance its acquisition in AC Energy Inc.’s thermal platform. In a disclosure to the Philippine Stock Exchange yesterday, AboitizPower said it signed a facility agreement with DBS Bank Ltd., Mizuho Bank Ltd., MUFG Bank Ltd., and Standard […]

Jakarta. Sustainable finance, aka financial services that pay special attention to their  environmental, social and good governance aspects, can reduce gaps in infrastructure financing—a constraint that has held back long-term growth in Southeast Asia, top executives at London-based lender HSBC said. In its Group Public Affairs Policy note distributed at the 23rd Asean Finance Ministers […]

Southeast Asian governments, the Asian Development Bank (ADB), and development financiers launched the Asean Catalytic Green Finance Facility, a new initiative to spur more than US$1 billion in green infrastructure investments across Southeast Asia. The launch ceremony was held in Chiang Mai, Thailand, on April 4 and was witnessed by Thailand’s Minister of Finance Apisak […]

MANILA, Philippines – The Manila Electric Company (Meralco) will slightly increase power rates by P0.0633 per kilowatt hour (kWh) in its April billing. The latest price changes will bring electricity rates to P10.5594 per kWh from March’s P10.4961. For a typical household consuming 200 kWh, it would mean an additional P12.60 in the bill. Meanwhile, […]

Vietnam’s power prices went up 8.36 percent Wednesday after remaining unchanged for two years. A senior official of the Ministry of Industry and Trade told that prices have gone up from VND1,720 (7.4 cents) per kWh to VND1,864 (8 cents), exclusive of VAT. The ministry had said earlier this month that the Prime Minister had […]

HCM CITY — As one of the most efficient power markets in Southeast Asia, Việt Nam has huge prospects, especially in renewable energy, experts have said. There is need for investment in Việt Nam in production, export capacities and upgrading of infrastructure, Phan Thế Anh, deputy general director of the Ministry of Industry and Trade’s […]

KUALA LUMPUR: The government will tender out RM3.2 billion renewable energy (RE) and energy efficient projects this year. Minister of Energy, Science, Technology, Environment and Climate Change (MESTECC) Yeo Bee Yin said the projects included retrofitting up to 50 government buildings devices so as to be more efficient in energy usage. “The pilot project will […]

METRONIC Global Bhd targets to achieve a US$1 billion (RM4.08 billion) market share of smart city projects across Malaysia, Europe, the US, Middle East and South-East Asia in the next three years. Metronic CEO and ED Brian Hoo Wai Keong said the US$1 billion target is plausible as it is less than 1% of global […]