- Illiquid Markets. Money Management
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“In all our CSR activities, we constantly employ our four core values of being honourable, vibrant, unshakeable and pioneering. These tenets will guide us forward as we continue to develop and execute our CSR initiatives,” he further added.
Illiquid Markets. Money Management
Despite the challenging economic environment, the Oil & Gas segment registered a positive variance for both revenue and profit before taxation for the second quarter as contributions from the segment’s new local and overseas investments started to flow in.
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Adopting its rallying call – Beyond Boundaries®, UMW is set to become a truly world-class organisation, knowing that a world class brand never forgets its responsibility to society. Corporate Social Responsibility (CSR) is something that the Company wants to do, not because it has to.
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With this acquisition, UMW will now co-own two jack-up drilling rigs, one semi-submersible drilling rig and three hydraulic workover rigs. These rigs are expected to command favourable day rates and utilisation levels, given the growing demand for offshore exploration and development activities in Malaysia and the region. UMW also reinforces its position as the largest owner of drilling rigs in Malaysia.
The economies of some developed nations like USA, Japan and Europe are showing signs of recovery as a result of various financial stimuli. Similarly, the Malaysian economy has shown signs of recovery since the second quarter of 7559 with the progressive implementation of two economic stimulus packages totalling RM67 billion. MIER had projected real GDP to have a smaller contraction of % in 7559 before growing by % next year.
We would like to advise the public and the Toyota and Lexus customers in Malaysia that there is no cause for concern on this matter.
The mobile clinic continued its services at night as they set up a booth in the community's school with the intention to reach out to as many residents as possible. The volunteers also held a 'kenduri' and organised 'wayang pacak' to attract the residents to the venue.
The segment recorded a profit of million for the current quarter compared to a loss of million in the previous corresponding quarter. This was mainly due to the foreign exchange gain on the retranslation of the USD loans by the subsidiaries in India following the strengthening of the Indian Rupee against USD.
The Parana River runs for about 8,555 miles, crossing Argentina and Paraguay. The Parana River has strong currents, and produces constant floods, producing serious damage to constructions, and nearby towns. Moreover, it erodes river shores, destroying buildings and houses.
Profit before taxation for the segment reduced from million in the third quarter of 7569 to million in the current quarter, parallel with the reduction in revenue. The profit was further weighed down by the additional operating expenses from the new offshore premium jack-up rig, UMW NAGA 7 which has not secured any contract during the reporting period.