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Posts Tagged ‘Malaysia’

Intel Increases Renewable Energy Credit Purchase to 2.5 Billion Kilowatt Hours

NEWS HIGHLIGHTS
  • Intel increased its renewable energy credit purchase to 2.5 billion kilowatt hours, a 75 percent increase over its 2010 commitment.
  • Intel has completed nine solar electric installations at Intel locations in four U.S. states and Israel, collectively generating approximately 3.8 million kilowatt hours per year of clean solar energy.
  • Intel, whose renewable energy credit purchase will exceed 85 percent of its estimated U.S. electricity use, was again named the largest voluntary purchaser of green power by the EPA.

SANTA CLARA, Calif., Feb. 1, 2011 – Building on years of support for renewable energy generation, Intel Corporation today announced that it will purchase 2.5 billion kilowatt hours of renewable energy credits (RECs) in 2011. This commitment is a 75 percent increase over its 2010 commitment of 1.43 billion kilowatt hours and equates to more than 85 percent of Intel’s estimated purchased electricity needs in the United States for 2011. In addition, Intel has completed nine solar electric installations at Intel locations in Arizona, California, New Mexico, Oregon and Israel, collectively generating more than 3.8 million kilowatt hours per year of clean solar energy.

“Intel’s renewable energy efforts are meant to spur the market and make renewables cheaper and more accessible, in turn helping to reduce the overall carbon emissions from electric generation,” said Brian Krzanich, senior vice president and general manager of Manufacturing and Supply Chain for Intel. “Intel’s REC purchases, support for solar installations and other clean energy investments will continue to be priorities for us as we search for effective sustainability opportunities around the globe.”

Intel first purchased RECs, the “currency” of renewable energy markets, and became the largest purchaser of green power in the United States1 with a 1.3 billion kilowatt hour commitment in 2008. Its 2011 purchase corresponds to the carbon dioxide emissions from the electricity use of nearly 218,000 average American homes or nearly 202 million gallons of gasoline consumed.2 As a result of Intel’s continued commitment to purchase RECs, the Environmental Protection Agency (EPA) again placed Intel at the top of its Green Power Partner List for 2011 as the largest voluntary, single purchaser of green power in the country. Intel was previously honored with the EPA’s Green Power Leadership Award.

In January 2010, Intel first announced its plans to construct eight solar projects across four states. Along with Intel’s first international solar electric project – a 50 kilowatt roof installation in Jerusalem – these projects are now complete and generating clean power for use at Intel facilities. The projects are a variety of types, including a massive 1-megawatt solar field that spans nearly six acres of land on Intel’s Folsom, Calif. campus, four rooftop installations and four solar support structures in Intel parking lots. Each of the U.S. installations, which were completed and are operated by Foster City, Calif.-based SolarCity, currently ranks among the 10 largest solar installations in its respective utility territory. The RECs generated by these installations are typically transferred to the local utility to support their regulatory obligations and programs.

Intel’s reaffirmed commitment to purchasing RECs and facilitating the nine solar electric installations is just the latest in Intel’s energy portfolio, which includes wind, solar, geo-thermal, small hydro-electric and biomass sources. Since 2001, Intel has invested over $45 million and completed approximately 1,500 projects to improve energy efficiency and resource conservation, saving roughly 790 million kilowatt hours of energy — enough to power nearly 69,000 average American homes for a year.3 Other highlights include:

Investments: Intel is dedicated to clean technology innovation and development.
  • As part of Intel’s broader objective to spur market demand for renewable energy, smart grid, home energy management and energy efficiency in enterprise, commercial, industrial and residential applications, Intel Capital, Intel’s global investment arm, has invested more than $150 million in approximately 20 clean technology businesses.

Operations: Intel continues to look for renewable energy and energy efficiency opportunities across its many locations.

Employee Engagement: Intel believes that employee engagement and empowerment are critical to its objective of embedding sustainability more deeply into the business.
  • Since 2008, Intel has linked a portion of every employee’s variable compensation — from front-line employees to the CEO — to the achievement of environmental sustainability metrics in three areas: energy efficiency of products, reductions in carbon footprint and energy use and improvements in environmental leadership reputation metrics.
  • As a key element of the solar installations at Intel’s facilities, awareness kiosks are set up in each site lobby to educate and engage employees in the company’s energy efforts.

Intel’s REC purchase will be handled by Sterling Planet, a national supplier of renewable energy, energy efficiency and low-carbon solutions. All purchases will be certified by the non-profit Center for Resource Solutions’ Green-e® program, which certifies and verifies green power products, and meet the requirements of the EPA Green Power Purchasing Program.

About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.

Intel and the Intel logo are trademarks of Intel Corporation in the United States and other countries.

* Other names and brands may be claimed as the property of others.

1 According to the U.S. EPA

2 Source: EPA Green Power Equivalency Calculator. For more information, visit www.epa.gov/greenpower/pubs/calculator.htm

3 Source: EPA Green Power Equivalency Calculator. For more information, visit www.epa.gov/greenpower/pubs/calculator.htm

CIMB starts Mewah at Outperform; $1.41 target

CIMB initiates Mewah International (MV4.SG) at Outperform with a $1.41 target price. The house says Mewah is the second largest palm-oil refiner by capacity in Malaysia, the sixth largest globally and the owner of a stable of brands.

“We’re bullish on its growth prospects from capacity and margin expansion, with earnings upside from acquisitions. Our target price of $1.41 is based on 13X CY12 P/E, a 10% discount to the plantation sector average to factor in its slimmer margins.” 

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BNP Paribas starts Mewah International at Buy

BNP Paribas starts Mewah International (MV4.SG) at Buy with a $1.33 target price. It says Mewah — Malaysia’s second-largest palm oil refiner and sixth-largest globally — has modern plants with state-of-the-art equipment, uses computerised process control and robotic system-storage facilities:

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Parkway to operate new private hospital in Sabah

Parkway Holdings, the Singapore hospital operator, said it will lease and operate a 200 million-ringgit ($83.2 million) private hospital that will be built in Kota Kinabalu in Malaysia’s eastern Sabah state.

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Malaysia Smelting opens at $1.78 in S’pore stock market debut

Shares of Malaysia Smelting Corp (MSC) (MSCB.KL) opened slightly above their offer price on their Singapore debut on Thursday, helped by the generally bullish outlook for commodity prices.

Around 9:02 a.m., MSC shares were being traded at $1.80 after opening at $1.78, a touch higher than the Singapore offer price of $1.75 a share.

Shares of the Kuala Lumpur-listed firm, which is involved in tin mining and smelting, closed 1.4% lower on Wednesday at 4.81 ringgit, or about $2.06, a share.

MSC, whose majority shareholder is Singapore’s Straits Trading Co (STCM.SI), raised net proceeds of $40.1 million in a Singapore secondary offering last week.

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Malaysia Smelting Corp Bhd says IPO 0.9 times oversubscribed

Bursa-listed Malaysia Smelting Corporation Berhad, the integrated tin mining and tin smelting group, announced that its IPO was 0.9 times oversubscribed.

Malaysia Smelting Corporation’s IPO comprised 25 million ordinary shares at $1.75. In total, applications amounting to 47,749,500 offering shares — comprising valid applications for 23,759,500 offer shares and 23,990,000 placement shares.

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Canon Singapore – Corporate moves

Lim Kok Hin has been appointed VP, Business Imaging Solutions Group with immediate effect
Work experience: Director, business imaging solutions group, Canon Singapore; held several management positions at Canon’s Malaysia sales office

Malaysia Smelting Corp. may fall; prices Singapore listing at discount

Malaysia Smelting Corp. (5916.KU) may fall toward MYR4.50 ($1.89), a one-week low, then MYR4.30, the one-month low, compared with Wednesday’s close of MYR4.60 (down 2.1%) when it resumes trading Monday, a local dealer says, after the company says it priced its secondary listing on the Singapore Exchange’s main board at $1.75/Share, equivalent to MYR4.17, which will raise $43.75 million. 

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Malaysia Smelting says Singapore IPO priced at $1.75 apiece

Malaysia Smelting Corp., a tin producer, said the issue price of the initial public offering for its secondary listing in Singapore has been set at $1.75 a share, according to a company statement today.

The public issue will consist of 1 million shares to the public in Singapore and a placement of 24 million shares to investors, including institutional buyers, it said.

 
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Citi Ups palm planters targets; likes Indofood

Citigroup says “CPO prices will remain well-supported over the near-term, as 1Q is typically a seasonally weak production period, exacerbated by wet weather affecting harvesting in parts of Malaysia and Indonesia.” It says other positives for CPO include firm soybean prices (weaker production outlook), higher oil prices (raised its estimate last week to $90/bbl from $85/bbl). 

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Singapore, Malaysia lead cuts in mobile roaming fees : Update

Southeast Asian ministers will study ways of lowering roaming mobile phone and text messaging charges across the region starting with Singapore and Malaysia, a minister said.

The neighbors will kick off with new telecommunications rates between their countries to be announced in two months, Rais Yatim, Malaysia’s minister of information, communications and culture told reporters in Kuala Lumpur. A letter of undertaking from Malaysian companies agreeing to the new roaming charges will be presented to Singapore next week, he said.

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Singapore, Malaysia to announce new phone rates, Rais Yatim says

Malaysia and Singapore will review and announce new telecommunication rates between both the countries in two months, Rais Yatim, minister for information, communications and culture, said in Kuala Lumpur today.

The countries will also announce new roaming phone charges, he told reporters.

 

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CVC Thomas to face trial in palm oil corruption case

P.J. ThomasThe trial of Chief Vigilance Commissioner P.J. Thomas in the palm oil import corruption case will continue, the Supreme Court ruled Tuesday. The decks were cleared after the Supreme Court said former Kerala chief minister K. Karunakaran’s appeal against the trial in the case was infructuous following his death. Thomas was Kerala civil supplies secretary [...]

Kim Eng rises to record after Maybank makes buyout bid: Update

Kim Eng Holdings, a Singaporean brokerage, surged to a record after Malayan Banking, Malaysia’s biggest lender, offered to buy the company for $1.79 billion to speed up expansion in Southeast Asia.

Shares of Kim Eng jumped 13% to $3.05 at the 5 p.m. close in Singapore trading, an all-time high, making it the best performer on Singapore’s stock exchange. Maybank, as the Kuala Lumpur-based company is known, slipped 0.1% to 9 ringgit, snapping a three-day gain.

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Shares down at midday on profit-taking; Kim Eng surges

Singapore shares were down at midday on Friday, pulling back after a rally in the first few trading sessions of the year, but stockbroker Kim Eng (KEHS.SI) outperformed the broader market after Malaysian lender Maybank made a bid for the firm.

Maybank (MBBM.KL), Malaysia’s largest lender by assets, is snapping up Kim Eng for $1.4 billion in a move to strengthen its grip on the regional stock broking industry and diversify the lender’s source of overseas revenue. 

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Kim Eng rises to record after Maybank makes $1.79b bid

Kim Eng Holdings, a Singaporean brokerage, surged to a record and Malayan Banking gained after Malaysia’s biggest lender offered to buy the company for $1.79 billion to speed up expansion in Southeast Asia.

Shares of Kim Eng jumped 12% to $3.03 at 10:48 a.m. in Singapore trading, set to close at an all-time high. Maybank, as the Kuala Lumpur-based company is known, added 0.7% to 9.07 ringgit, headed for its highest close since Nov. 16.

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Kim Eng rises 13% on Maybank’s takeover bid

Shares of Singapore’s Kim Eng Holdings (KEHS.SI) opened 13% higher on Friday after Malaysia’s largest lender Maybank (MBBM.KL) offered to buy the stockbroker for US$1.4 billion ($1.8 billion).

Around 9:02 a.m., Kim Eng shares were traded at $3.05, below Maybank’s offer price of $3.10 a share but well above its last traded price of $2.70.

Maybank said on Thursday that it has already agreed to buy a 44.6% stake in Kim Eng from two major shareholders.

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Maybank makes $1.8b bid for Kim Eng: Update 3

Malayan Banking Bhd., Malaysia’s biggest lender by assets, offered to buy Singaporean brokerage Kim Eng Holdings Ltd. in a deal valued at $1.79 billion, accelerating its expansion in Southeast Asia.

Maybank, as the Kuala Lumpur-based company is known, agreed to buy a 44.6% stake in Kim Eng from Taiwan’s Yuanta Securities Asia Financial Services and Kim Eng Chairman Ronald Anthony Ooi Thean Yat at $3.10 a share, the companies said in separate statements today. That’s a 36% premium to the stock’s average price over the past 20 days.

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Maybank buying Kim Eng for $1.8b to plug gap in broking

Maybank (MBBM.KL), Malaysia’s largest lender by assets, is snapping up Singapore broker Kim Eng Holdings for US$1.4 billion ($1.8 billion), in a move to strengthen its grip on the regional stock broking industry and diversify the lender’s source of overseas revenue.

The acquisition comes as Southeast Asian markets are on a roll, with Thailand and Indonesia ranking as the best performing major markets in Asia last year, spurred by foreign fund inflows and robust economic growth.

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Malaysia Maybank may need 500m ringgit to bid for Kim Eng units

Malaysia’s top lender, Maybank (MBBM.KL), will finance its purchase of Singapore broker Kim Eng Holdings (KEHS.SI) through a mix internal and external funds, its chief executive Abdul Wahid Omar said on Thursday.

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