Sonata Software, an Indian IT services company, has broadened its global footprint by incorporating a fully owned subsidiary, Sonata Software Malaysia, effective June 13, 2023. The new subsidiary has been established with an initial paid-up share capital of MYR 10,000, with Sonata Software holding 100% of the shares. As the tech industry continues to grow […]
HCL Technologies (HCLTech) is collaborating with insurtech company C2L BIZ to facilitate the digital transformation of business processes for an undisclosed Malaysian life insurance company. As part of the engagement, HCL Technologies and C2L Biz have implemented the latter’s SymbioSys Sales Tool for the automation of lead management, sales quotation, sales collateral, and sales illustration […]
FWD Group Holdings, a pan-Asian life insurance business, has agreed to acquire a majority stake in Gibraltar BSN Life Berhad to enter the Malaysian life insurance market. The stake is being divested by The Prudential Insurance Company of America, a wholly owned subsidiary of US-based Prudential Financial. Under the agreement, FWD Group and other investors […]
Advantek, an American provider of carrier tape and precision component packaging, has acquired LKTT Plastic Technology, a Malaysian provider of precision packaging, for an undisclosed price. LKTT Plastic Technology is said to have over 10 years of experience in carrier tape manufacturing. The company focuses on complex designs for shields, connectors, and other highly sensitive […]
Larsen & Toubro (L&T) said that L&T Construction’s power transmission and distribution unit has won multiple engineering, procurement, and construction (EPC) orders in India and abroad. The Indian conglomerate didn’t disclose the exact value of the contracts but indicated them to be in the range of INR 1,000 crores to 2,500 crores. Larsen & Toubro […]
Lang Lebah gas project : French engineering company Technip Energies has been awarded a front-end engineering design (FEED) contract from PTTEP HK Offshore for the Lang Lebah Onshore Gas Plant 2 in Malaysia. Located in Bintulu, Sarawak, in Malaysia, the Lang Lebah gas project is one of the important projects of the Sarawak Integrated Sour […]
Sabah Shell Petroleum Company (SSPC), a subsidiary of Shell has taken a final investment decision (FID) on the Phase 4 development of the Gumusut-Kakap-Geronggong-Jagus East deepwater oil field project (GKGJE oil project), off the coast of Sabah, Malaysia. Located in water depths of 1,200 meters, the Gumusut-Kakap field entered into production in 2014 through the […]
Liberty Mutual Insurance has wrapped up the previously announced MYR 2.29 billion ($515 million) acquisition of AmGeneral Insurance Berhad, a Malaysian insurer, having secured regulatory approval in Malaysia and signed a purchase and sale deal with AmBank Group. The deal was announced in July 2021 and executed by Liberty Mutual Insurance’s subsidiary — Liberty Insurance […]
PETRONAS Chemicals Group (PCG), a Malaysian chemicals producer, has agreed to acquire Perstorp, a specialty chemicals company, from Financière Forêt, a company under PAI Partners, for a price of €2.3 billion. Based in Sweden and established over 140 years ago, Perstorp is a niche specialty chemicals producer. The company focuses on the resins and coatings, […]
Excelsus Holdings has acquired Spectrum Integrated Technologies, a Malaysian printed circuit board (PCB) manufacturing company, for an undisclosed price. The acquisition was carried out by Excelsus Holdings’ fully-owned Malaysian subsidiary Excelsus Technologies (M). Spectrum Integrated Technologies’ PCB manufacturing services range from single-sided to complex multi-layer and burn-in boards. The company was founded in 2011 following […]