Latest news with #RM4.24
Barnama
13 hours ago
- Business
- Barnama
OMS Reports Growth, Expansion Ahead Of First Earnings Call
BUSINESS KUALA LUMPUR, June 20 (Bernama) -- OMS Energy Technologies Inc (OMS), a manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG), has issued a business update ahead of its inaugural earnings call following its successful Nasdaq listing in May 2025. The company's expanding customer base, growing talent pool, and continued investment in research and development (R&D) are positioning OMS for long-term success, according to a statement. Its Chief Executive Officer, How Meng Hock said OMS enters the public market with a solid foundation, supported by strong partnerships, manufacturing capabilities, and prudent financial management. OMS recently secured a letter of award from Grupo Simples Oil for SWS in Angola's Onshore Kwanza Basin, expanding its presence in West Africa. In Indonesia, new clients such as PT Seleraya Belida and Pertamina Hulu Sanga Sanga are contributing to sales growth, while PTTEP in Thailand renewed its three-year contract effective July 1. Long-standing partnerships continue to anchor the company's revenue stream. A 10-year agreement with Saudi Aramco is expected to generate between US$120 million and US$200 million annually. OMS also maintains a strong supply relationship with Halliburton, with steady order volumes from its Malaysia and Singapore operations. (US$1=RM4.24) With 11 manufacturing facilities across six countries such as Singapore, Malaysia, Brunei, Saudi Arabia, Thailand and Indonesia, OMS is strategically positioned in key oil and gas regions. The company's localisation strategy supports eligibility for government tenders while enriching its workforce through local hiring and compliance with Saudi Arabia's IKTVA and Indonesia's TKDN requirements. In product innovation, OMS invested US$1.1 million in additive manufacturing (AM) R&D to develop a metallic seal for its high-pressure-high-temperature (HPHT) gate valves. The project has completed its initial proof-of-concept phase and is expected to enhance supply chain efficiency and material selection. OMS continues to collaborate with institutions such as the Singapore Institute of Manufacturing and Technology (SIMTech) to advance its R&D efforts. Its delivery performance under long-term contracts with Saudi Aramco and Halliburton remains strong, supported by balanced manufacturing capacity and strategic facility locations. The company prioritises workplace safety and environmental compliance, holding ISO 9001, API Q1, ISO 45001, and ISO 14001 certifications across all manufacturing sites. It recently completed its annual surveillance audit, reinforcing its environmental, social, and governance (ESG) commitments.
The Sun
13 hours ago
- Business
- The Sun
BNM's international reserves rise to US$119.9b
KUALA LUMPUR, June 20 (Bernama) -- The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025. In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion). Total assets amounted to RM630.55 billion, comprising gold and foreign exchange and other reserves, including SDRs (RM531.12 billion), Malaysian government papers (RM12.91 billion), deposits with financial institutions (RM4.26 million), loans and advances (RM27.08 billion), land and buildings (RM4.58 billion), and other assets (RM50.57 billion). BNM said total capital and liabilities amounted to RM630.55 billion, comprising paid-up capital (RM100 million), reserves (RM194.93 billion), currency in circulation (RM172.73 billion), deposits by financial institutions (RM127.93 billion), federal government deposits (RM10.53 billion), other deposits (RM82.23 billion), Bank Negara papers (RM10.55 billion), allocation of SDRs (RM28.38 billion), and other liabilities (RM3.13 billion).
Barnama
13 hours ago
- Business
- Barnama
BNM's International Reserves Rise To US$119.9 Bln
KUALA LUMPUR, June 20 (Bernama) -- The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025. In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion).
New Straits Times
14 hours ago
- Business
- New Straits Times
Bank Negara's international reserves rise to US$119.9bil
KUALA LUMPUR: The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025. In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion). Total assets amounted to RM630.55 billion, comprising gold and foreign exchange and other reserves, including SDRs (RM531.12 billion), Malaysian government papers (RM12.91 billion), deposits with financial institutions (RM4.26 million), loans and advances (RM27.08 billion), land and buildings (RM4.58 billion), and other assets (RM50.57 billion). BNM said total capital and liabilities amounted to RM630.55 billion, comprising paid-up capital (RM100 million), reserves (RM194.93 billion), currency in circulation (RM172.73 billion), deposits by financial institutions (RM127.93 billion), federal government deposits (RM10.53 billion), other deposits (RM82.23 billion), Bank Negara papers (RM10.55 billion), allocation of SDRs (RM28.38 billion), and other liabilities (RM3.13 billion).
The Sun
5 days ago
- Business
- The Sun
Global oil prices surge amid escalating conflict around Strait of Hormuz
KUALA LUMPUR: Global oil prices are surging in anticipation of a supply shock due to the escalating conflict around the Strait of Hormuz, according to Petroliam Nasional Bhd (Petronas). At the time of writing, the Brent crude oil price rose 0.97 per cent to US$74.95 per barrel. Petronas president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz described the current price rally as one of the most intense since the 2022 energy crisis. 'This is unfolding at a time when the world is still reeling from the spectre of reciprocal tariffs. 'Though we cannot yet precisely measure the true impact of all these events, the global energy system, which is already strained from the natural progression of our civilisation, is indeed at great risk,' he said in his welcoming speech at Energy Asia 2025, here today. On Asia's path to net-zero carbon emissions, Tengku Muhammad Taufik stated that achieving this goal will require US$88.7 trillion (US$1 = RM4.24) in energy investments by 2050. He emphasised that investment and spending across both conventional and renewable energy systems continued to be required. 'As energy is the lifeblood of economies, investments will be critical to ensure energy availability and affordability. 'Governments, financial institutions and industries must work together to implement policies and frameworks that help unlock capital for energy projects, especially in emerging and developing economies where it is most needed,' he said. Meanwhile, Tengku Muhammad Taufik said the world stands at the threshold of the fifth industrial revolution, as artificial intelligence (AI) is rapidly becoming an indispensable foundational technology across sectors. He noted that electricity demand from data centres would reach 945 terawatt hours (TWh) globally by 2030, more than double the 415 TWh in 2024 and accounting for over 20 per cent of total demand growth in the period. 'Entire energy systems at our disposal are now working to serve this surge in demand. 'This is even as we still adapt to significant retracing of environmental, social, and governance policies, which threaten to dismantle the net-zero ambitions that the world has worked towards since the Paris Agreement. 'These seismic shifts of global conflicts, technological revelations and climate change have manifested in what Petronas describes as a 'polycrisis,' which sets the tone and context for our gathering today,' he said. Energy Asia 2025 will showcase over 180 globally renowned speakers through more than 50 strategic dialogues spanning seven sub-themes. The conference will examine the collaborative efforts across Asian nations that can enhance energy security, promote the adoption of renewable energy, deploy decarbonisation solutions, facilitate technology transfer, and catalyse economic and socio-economic development.
