An NDT Inspector has been sentenced to 3 years prison and order to pay $654,000
compensation after admitting to certifying critical welds on submarines without
actually testing them.
Robert Ruks aged 34 was employed as an inspector at the Newport News
shipbuilding yard in Virginia. His worked required him to inspect welds on various
types of navy vessels including critical welds on nuclear submarines.
In 2009 Ruks was interviewed by the US Navy's criminal investigation service after
fellow inspectors had suspected that he was signing off welds that he had not
tested.
During his employment Ruks certified more than 10,000 welds on submarines.
Around 10% of which were hull integrity or SUBSAFE joints involving critical
parts, failure of which could have lead to the loss of a nuclear submarine.
As a result of his actions over 9,500 welds had to be reinspected. During the
retests 14 structural welds were found to be defective and required repairing.
The re-inspection required 18,900 man hours and cost $654,000. As part of
Ruks sentence he will be required to repay that sum to the US Navy.
Friday, 25 November 2011
Shahril to be president, group CEO of merged Sapura-Kencana group
Sapura Group president and chief executive officer Datuk Seri Shahril Shamsuddin will be the president and group chief executive officer of the merged SAPURACREST PETROLEUM BHD and KENCANA PETROLEUM BHD.
According to documents sighted by The Edge FinancialDaily, Sapura group chairman Datuk Hamzah Bakar will be the chairman of the new board while Kenaca’s executive chairman Datuk Mokhzani Mahathir will be appointed the executive vice chairman.
Both the president & group CEO and executive vice chairman will report directly to the board.
Currently, the integration committee for the merger exercise is jointly chaired by Shahril and Mokhzani.
Both companies will be seeking shareholders’ approval at an EGM on Dec 14 for the proposed merger. The Securities Commission has already given its go-ahead for the merger.
In July, the petroleum-related companies announced the merger which would be undertaken by Integral Key Sdn Bhd (IKSB), a special purpose vehicle. IKSB had then made a RM11.85-billion offer to acquire all their assets and liabilities in a share swap. The merger of equals will have a combined market capitalisation in excess of RM10 billion.
According to the documents, Shahril said the integration committee was set up to achieve a successful merger and to formulate the strategic direction of the new merged entity moving forward.
He had also said that it is “critical that we put in place a strong and dynamic organisational structure that would ensure business continuity and realisation of the synergies we hope to derive as a merged entity. I would like to assure each and everyone of you that you will continue to be an important part of the new organisation moving forward”.
According to documents sighted by The Edge FinancialDaily, Sapura group chairman Datuk Hamzah Bakar will be the chairman of the new board while Kenaca’s executive chairman Datuk Mokhzani Mahathir will be appointed the executive vice chairman.
Both the president & group CEO and executive vice chairman will report directly to the board.
Currently, the integration committee for the merger exercise is jointly chaired by Shahril and Mokhzani.
Both companies will be seeking shareholders’ approval at an EGM on Dec 14 for the proposed merger. The Securities Commission has already given its go-ahead for the merger.
In July, the petroleum-related companies announced the merger which would be undertaken by Integral Key Sdn Bhd (IKSB), a special purpose vehicle. IKSB had then made a RM11.85-billion offer to acquire all their assets and liabilities in a share swap. The merger of equals will have a combined market capitalisation in excess of RM10 billion.
According to the documents, Shahril said the integration committee was set up to achieve a successful merger and to formulate the strategic direction of the new merged entity moving forward.
He had also said that it is “critical that we put in place a strong and dynamic organisational structure that would ensure business continuity and realisation of the synergies we hope to derive as a merged entity. I would like to assure each and everyone of you that you will continue to be an important part of the new organisation moving forward”.
Thursday, 24 November 2011
Petronas' Explanation Sought On The Channelling Of Gas From Sogt To Bintulu
Petronas today was asked to provide a transparent and detailed explanation on its decision to supply and channel gas from the Sabah Oil and Gas Terminal to the Petronas Liquefied Nitgrogen Gas Complex in Bintulu, Sarawak.
State Assemblyman for Pantai Manis, Datuk Abdul Rahim Ismail made this request to Petronas, saying that the explanation would be important in putting to rest any confusion with regards to the project.
"Some may understand the rationale for the decision, but I fear a majority of them may not understand and we do not want any parties trying to exploit the issue for their own interest," he said when debating the Sabah 2012 Budget at the State Legislative Assembly here today.
Abdul Rahim also urged the state government to form a special committee with the specific role of looking into issues related to the state's oil and gas industry.
"This body must be represented by players from the oil and gas industry, be it government or private sector."
The same body can also take action in representing, safeguarding and advocating the interest of Sabah in matters related to the development of the industry in the state, he said.
Abdul Rahim said the body should also have to capacity and expertise to play advisor and consultant on the industry with the view to taking care of Sabah's interest.
He said the new discovery of oil within 100km offshore Kota Kinabalu by Petronas had the potential of beefing up both the upstream and downstream activities of the state's oil and gas industry.
The former state minister of Agriculture and Food Industries also expects the new oil find to extend the lifespan of oil and gas production in Sabah and make the state an important player in the country's oil and gas industry in the decades to come.
State Assemblyman for Pantai Manis, Datuk Abdul Rahim Ismail made this request to Petronas, saying that the explanation would be important in putting to rest any confusion with regards to the project.
"Some may understand the rationale for the decision, but I fear a majority of them may not understand and we do not want any parties trying to exploit the issue for their own interest," he said when debating the Sabah 2012 Budget at the State Legislative Assembly here today.
Abdul Rahim also urged the state government to form a special committee with the specific role of looking into issues related to the state's oil and gas industry.
"This body must be represented by players from the oil and gas industry, be it government or private sector."
The same body can also take action in representing, safeguarding and advocating the interest of Sabah in matters related to the development of the industry in the state, he said.
Abdul Rahim said the body should also have to capacity and expertise to play advisor and consultant on the industry with the view to taking care of Sabah's interest.
He said the new discovery of oil within 100km offshore Kota Kinabalu by Petronas had the potential of beefing up both the upstream and downstream activities of the state's oil and gas industry.
The former state minister of Agriculture and Food Industries also expects the new oil find to extend the lifespan of oil and gas production in Sabah and make the state an important player in the country's oil and gas industry in the decades to come.
Wednesday, 23 November 2011
Petronas Chemicals posts RM1.7bn Q2 profit
Petronas Chemicals Group Bhd posted a pre-tax profit of RM1.7 billion on revenue of RM4.638 billion for the quarter ended Sept 30, 2011.
For the six months ended Sept 30, it posted a pre-tax profit of RM2.758 billion on revenue of RM7.983 billion.
It declared an interim dividend of eight sen per share, payable on Dec 22. Petronas Chemicals said moving forward, the results of its operations are expected to be primarily influenced by fluctuations in international petrochemical products prices, global economic conditions and utilisation rate of its production facilities.
The start of the third quarter saw power supply interruption to Ethylene Malaysia Sdn Bhd, which limited its ethylene production for approximately two weeks, it said.
Consistent with previous periods, the Olefins and Derivatives segment will continue to be the key contributor to the Group's results, it added.
Subject to sufficient availability of methane gas, it expects satisfactory results of its operations for the financial period ending Dec 31, 2011.
For the six months ended Sept 30, it posted a pre-tax profit of RM2.758 billion on revenue of RM7.983 billion.
It declared an interim dividend of eight sen per share, payable on Dec 22. Petronas Chemicals said moving forward, the results of its operations are expected to be primarily influenced by fluctuations in international petrochemical products prices, global economic conditions and utilisation rate of its production facilities.
The start of the third quarter saw power supply interruption to Ethylene Malaysia Sdn Bhd, which limited its ethylene production for approximately two weeks, it said.
Consistent with previous periods, the Olefins and Derivatives segment will continue to be the key contributor to the Group's results, it added.
Subject to sufficient availability of methane gas, it expects satisfactory results of its operations for the financial period ending Dec 31, 2011.
Tuesday, 22 November 2011
Shell Sets World Record for Deepest Subsea Oil and Gas Well
Shell Oil Company is now producing oil from the world's deepest subsea well at its Perdido Development, utilizing advanced technology to lead the way in increasing the company's ability to produce more domestic oil and gas resources.
The well, at 9,627 feet below the water's surface, is located in the Tobago Field 200 miles southwest of Houston in the ultra-deep water of the Gulf of Mexico. Tobago is jointly owned by Shell (32.5%, as operator), Chevron (57.5%), and Nexen (10.0%) and is one of three fields producing through the Perdido drilling and production platform.
Tobago breaks the world water depth record for subsea production, previously held by another field in the Perdido Development, the Silvertip field at 9,356 feet of water.
"Energy is fundamental to global economic growth. Providing this energy must be met practically, safely and in an environmentally responsible manner," said Marvin Odum, Upstream Americas Director. "Through our highly skilled workforce and cadre of global geoscientists, Shell has applied its advanced seismic and drilling technologies at Perdido to produce additional sources of oil and gas."
Moored in about 8,000 feet of water, the Perdido platform is jointly owned by Shell (33.34%), BP (33.33%) and Chevron (33.33%) and is the deepest drilling and production facility in the world with a capacity to handle 100,000 barrels of oil per day and 200 million standard cubic feet of gas per day. From Perdido, Shell accesses the Great White, Tobago, and Silvertip oil and gas fields through subsea wells directly below the facility and from wells up to seven miles away. At its peak, Perdido can produce enough energy to meet the needs of more than two million US households. Shell operates Perdido and its satellite fields on behalf of partners Chevron, Nexen, and BP.
This world-class project began with the 1996 lease sale when the technology to develop hydrocarbons at Perdido's water depth did not yet exist. By the time the final investment decision for commercial development was made in October 2006, Shell had pioneered several technological firsts which allowed the company to proceed with ultra deepwater oil and gas production. Development drilling began in July 2007, five years after the discovery of hydrocarbons. Perdido produced its first oil and gas on March 31, 2010.
Perdido Technical Facts and Firsts
Deepest water depth record for an offshore oil drilling and production platform.
First water injection in 8,000 feet of water in the Gulf of Mexico (Great White GB001) helps push oil through the reservoir, from the injector wells to the production wells.
First commercial production from the Lower Tertiary geological formation, which many see as the next big opportunity in deep water.
Deployment of an innovative subsea separation and boosting system that compensates for the low-pressure reservoir and about 2,000 psi of backpressure from the wells. The system includes five specially designed 1,500-horsepower electric pumps embedded in the seafloor to boost production to the surface.
First spar with direct vertical access wells and production hardware on the seafloor at a depth of more than 8,000 feet.
Perdido weighs 50,000-tons and sits in water six times deeper than the height of the Empire State Building.
The entire Perdido project has achieved 13 million man-hours without a lost-time injury, testifying to the effectiveness of the safety regimes put in place by the construction and operating teams.
The well, at 9,627 feet below the water's surface, is located in the Tobago Field 200 miles southwest of Houston in the ultra-deep water of the Gulf of Mexico. Tobago is jointly owned by Shell (32.5%, as operator), Chevron (57.5%), and Nexen (10.0%) and is one of three fields producing through the Perdido drilling and production platform.
Tobago breaks the world water depth record for subsea production, previously held by another field in the Perdido Development, the Silvertip field at 9,356 feet of water.
"Energy is fundamental to global economic growth. Providing this energy must be met practically, safely and in an environmentally responsible manner," said Marvin Odum, Upstream Americas Director. "Through our highly skilled workforce and cadre of global geoscientists, Shell has applied its advanced seismic and drilling technologies at Perdido to produce additional sources of oil and gas."
Moored in about 8,000 feet of water, the Perdido platform is jointly owned by Shell (33.34%), BP (33.33%) and Chevron (33.33%) and is the deepest drilling and production facility in the world with a capacity to handle 100,000 barrels of oil per day and 200 million standard cubic feet of gas per day. From Perdido, Shell accesses the Great White, Tobago, and Silvertip oil and gas fields through subsea wells directly below the facility and from wells up to seven miles away. At its peak, Perdido can produce enough energy to meet the needs of more than two million US households. Shell operates Perdido and its satellite fields on behalf of partners Chevron, Nexen, and BP.
This world-class project began with the 1996 lease sale when the technology to develop hydrocarbons at Perdido's water depth did not yet exist. By the time the final investment decision for commercial development was made in October 2006, Shell had pioneered several technological firsts which allowed the company to proceed with ultra deepwater oil and gas production. Development drilling began in July 2007, five years after the discovery of hydrocarbons. Perdido produced its first oil and gas on March 31, 2010.
Perdido Technical Facts and Firsts
Deepest water depth record for an offshore oil drilling and production platform.
First water injection in 8,000 feet of water in the Gulf of Mexico (Great White GB001) helps push oil through the reservoir, from the injector wells to the production wells.
First commercial production from the Lower Tertiary geological formation, which many see as the next big opportunity in deep water.
Deployment of an innovative subsea separation and boosting system that compensates for the low-pressure reservoir and about 2,000 psi of backpressure from the wells. The system includes five specially designed 1,500-horsepower electric pumps embedded in the seafloor to boost production to the surface.
First spar with direct vertical access wells and production hardware on the seafloor at a depth of more than 8,000 feet.
Perdido weighs 50,000-tons and sits in water six times deeper than the height of the Empire State Building.
The entire Perdido project has achieved 13 million man-hours without a lost-time injury, testifying to the effectiveness of the safety regimes put in place by the construction and operating teams.
Saturday, 19 November 2011
The Largest And The Heavy It Become : DNV to classify world's largest heavy lift vessel
With its width of nearly 80 metres and length of 275 metres, the Dockwise Vanguard is the first semisubmersible heavy lift vessel to be built in accordance with DNV's new class rules for this type of ship. The vessel has no forecastle, which allows it to carry cargo of unlimited length. Its deckhouse is mainly positioned outside its hull, allowing it to carry 70 metre wide cargo.
Dockwise's new heavy lift vessel, the Dockwise Vanguard, will be able to lift and transport units of up to 110,000 tonnes. The maximum capacity of an existing vessel is 75,000 tonnes.
"As DNV is perceived to be the leading class society when it comes to heavy lift vessels, and as Dockwise is a front runner within this ship segment, the two organisations have cooperated to ensure this new innovative vessel meets all the safety standards," said Torgeir Sterri, DNV Regional Manager Central Europe. "Not only were DNV's existing rules essential for scaling up this unique semisubmersible heavy lift vessel concept, but DNV's risk assessment capabilities were also key to meeting all the SOLAS requirements for this unconventional design."
At the annual gala for the Dutch maritime cluster, the Royal Dutch Association of Shipowners chose the Dockwise Vanguard as the most innovative and daring project launched by the Dutch maritime sector during the past year, the company said. When accepting this award, Dockwise's CEO André Goedée expressed his appreciation of the Dutch flag administration and DNV.
"I am pleased and impressed by the way the owner, flag and class have managed to work together," Goedée said. "By thinking ‘outside the box,' we have been able to form a new concept and bring the whole industry a huge step forward".
The vessel is going to be built by Hyundai Heavy Industries in Korea. Its keel will be laid in December and the vessel is due to be delivered in October 2012, when its first cargo will be ready to be transported from South-East Asia to Brazil.
Dockwise's new heavy lift vessel, the Dockwise Vanguard, will be able to lift and transport units of up to 110,000 tonnes. The maximum capacity of an existing vessel is 75,000 tonnes.
"As DNV is perceived to be the leading class society when it comes to heavy lift vessels, and as Dockwise is a front runner within this ship segment, the two organisations have cooperated to ensure this new innovative vessel meets all the safety standards," said Torgeir Sterri, DNV Regional Manager Central Europe. "Not only were DNV's existing rules essential for scaling up this unique semisubmersible heavy lift vessel concept, but DNV's risk assessment capabilities were also key to meeting all the SOLAS requirements for this unconventional design."
At the annual gala for the Dutch maritime cluster, the Royal Dutch Association of Shipowners chose the Dockwise Vanguard as the most innovative and daring project launched by the Dutch maritime sector during the past year, the company said. When accepting this award, Dockwise's CEO André Goedée expressed his appreciation of the Dutch flag administration and DNV.
"I am pleased and impressed by the way the owner, flag and class have managed to work together," Goedée said. "By thinking ‘outside the box,' we have been able to form a new concept and bring the whole industry a huge step forward".
The vessel is going to be built by Hyundai Heavy Industries in Korea. Its keel will be laid in December and the vessel is due to be delivered in October 2012, when its first cargo will be ready to be transported from South-East Asia to Brazil.
Ramunia explains ONGC decision
Ramunia Holdings Bhd and its joint venture partner declined to re-tender for a US$190 million (RM602 million) contract with India’s Oil and Natural Gas Corp Ltd (ONGC) due to the long delay in the issuance of the notice of award. The contract was for the construction of up to 10 wellhead platforms.
Ramunia clarified to Bursa Malaysia yesterday that the Ramunia-SEW consortium decided not to participate as ONGC had delayed the notice of award from Sept 2, 2011 to Nov 11, 2011, despite the fact that the consortium was the lowest compliant bidder as declared on Aug 30, beating five other international consortia and one disqualified bidder.
Ramunia had announced on Monday that the consortium would not be participating in the re-tender exercise for the WO-16 cluster and SB-14 wellhead platform project after receiving a new invitation from ONGC to participate in a short re-tender of the project.
Ramunia said in April that Ramunia Fabricators Sdn Bhd had signed a memorandum of understanding with SEW Infrastructure Ltd (India) and in July it announced that the Ramunia-SEW consortium was to bid for this job. If Ramunia had won the job, it would have marked Ramunia’s re-entry into India after a two-year hiatus.
Ramunia was blacklisted by ONGC over issues with a US$685 million field development job in 2008. The two-year blacklist ended in May.
Ramunia clarified to Bursa Malaysia yesterday that the Ramunia-SEW consortium decided not to participate as ONGC had delayed the notice of award from Sept 2, 2011 to Nov 11, 2011, despite the fact that the consortium was the lowest compliant bidder as declared on Aug 30, beating five other international consortia and one disqualified bidder.
Ramunia had announced on Monday that the consortium would not be participating in the re-tender exercise for the WO-16 cluster and SB-14 wellhead platform project after receiving a new invitation from ONGC to participate in a short re-tender of the project.
Ramunia said in April that Ramunia Fabricators Sdn Bhd had signed a memorandum of understanding with SEW Infrastructure Ltd (India) and in July it announced that the Ramunia-SEW consortium was to bid for this job. If Ramunia had won the job, it would have marked Ramunia’s re-entry into India after a two-year hiatus.
Ramunia was blacklisted by ONGC over issues with a US$685 million field development job in 2008. The two-year blacklist ended in May.
Friday, 18 November 2011
Petronas, Shell in $12 Billion Oilfield Development Deal
Malaysia’s state-owned oil and gas company Petroliam Nasional Bhd. said Friday that it has agreed with Royal Dutch Shell PLC to jointly develop oilfields in Malaysia using enhanced oil recovery techniques.
The companies say the $12 billion project will help the Malaysian national explorer extract a greater portion of oil from its existing reserves and extend the lives of its oilfields.
The Malaysian company, also called Petronas, has been grappling with shrinking output from aging fields and targets capital expenditure of 50 billion ringgit-55 billion ringgit ($15.89 billion-$17.47 billion) a year over the next five years to replace and refurbish them.
Many of its producing Malaysian oil and gas fields are between 19 years and 28 years old.
Last year, Malaysia unveiled a package of tax incentives to boost oil output from mature fields, including cutting tax rates for the development of new oil and gas resources and enhancing recovery from depleted fields.
Petronas said it signed a deal with Shell for two 30-year production-sharing contracts under which the companies will employ enhanced oil recovery methods at oilfields offshore Sarawak and Sabah states in East Malaysia.
They will also develop nine oil fields in the Baram Delta offshore Sarawak and four in the North Sabah development area.
The two projects together may yield an additional 90,000 barrels to 100,000 barrels a day and could be the largest offshore enhanced oil recovery development in the world.
Malaysia, which produced 658,000 barrels of oil and condensates a day as of Jan. 1 last year, is expected to become a net oil importer by 2013 because of declining domestic output.
The projects will increase the average recovery factor in the Baram Delta and North Sabah fields to about 50% from around 36%, halt the decline of Malaysia’s oil output by improving production in the fields and extend the field life beyond 2040, Petronas said.
The companies say the $12 billion project will help the Malaysian national explorer extract a greater portion of oil from its existing reserves and extend the lives of its oilfields.
The Malaysian company, also called Petronas, has been grappling with shrinking output from aging fields and targets capital expenditure of 50 billion ringgit-55 billion ringgit ($15.89 billion-$17.47 billion) a year over the next five years to replace and refurbish them.
Many of its producing Malaysian oil and gas fields are between 19 years and 28 years old.
Last year, Malaysia unveiled a package of tax incentives to boost oil output from mature fields, including cutting tax rates for the development of new oil and gas resources and enhancing recovery from depleted fields.
Petronas said it signed a deal with Shell for two 30-year production-sharing contracts under which the companies will employ enhanced oil recovery methods at oilfields offshore Sarawak and Sabah states in East Malaysia.
They will also develop nine oil fields in the Baram Delta offshore Sarawak and four in the North Sabah development area.
The two projects together may yield an additional 90,000 barrels to 100,000 barrels a day and could be the largest offshore enhanced oil recovery development in the world.
Malaysia, which produced 658,000 barrels of oil and condensates a day as of Jan. 1 last year, is expected to become a net oil importer by 2013 because of declining domestic output.
The projects will increase the average recovery factor in the Baram Delta and North Sabah fields to about 50% from around 36%, halt the decline of Malaysia’s oil output by improving production in the fields and extend the field life beyond 2040, Petronas said.
Tuesday, 15 November 2011
Petronas Carigali temui minyak di luar pantai Sabah
Cabang eksplorasi dan pengeluaran Petronas, Petronas Carigali Sdn Bhd, telah menemui jumlah minyak yang signifikan di luar pantai Sabah.
Dalam satu kenyataan hari ini, Petronas berkata, penemuan itu dilakukan di telaga Wakid-1 di dalam Blok 2G-2J, kira-kira 100km di timur laut Kota Kinabalu.
Telaga itu digerudi pada 30 Mei, 2011 dan selesai pada 4 Julai, 2011.
Petronas berkata, ia mencapai ketinggian vertikal 3,330m dan mengesahkan kehadiran minyak yang signifikan dan kewujudan takungan gas.
"Tiga ujian pengeluaran dilaksanakan di tiga takungan berlainan yang mengalirkan minyak pada kadar maksimum disatukan 8,200 tong sehari.
"Anggaran awal semasa hidro karbon di kawasan itu dari penemuan itu ialah 227 juta tong bersamaan minyak (mmboe), dengan jangkaan potensi peningkatan,” kata Petronas.
Dalam satu kenyataan hari ini, Petronas berkata, penemuan itu dilakukan di telaga Wakid-1 di dalam Blok 2G-2J, kira-kira 100km di timur laut Kota Kinabalu.
Telaga itu digerudi pada 30 Mei, 2011 dan selesai pada 4 Julai, 2011.
Petronas berkata, ia mencapai ketinggian vertikal 3,330m dan mengesahkan kehadiran minyak yang signifikan dan kewujudan takungan gas.
"Tiga ujian pengeluaran dilaksanakan di tiga takungan berlainan yang mengalirkan minyak pada kadar maksimum disatukan 8,200 tong sehari.
"Anggaran awal semasa hidro karbon di kawasan itu dari penemuan itu ialah 227 juta tong bersamaan minyak (mmboe), dengan jangkaan potensi peningkatan,” kata Petronas.
Japanese may decide to shift ops to Sabah
Japanese companies are contemplating moving out of their country and looking at the possibility of investing in Malaysia in view of the high cost of living and high wages in Japan.
Japanese industrialists who are using Thailand as their base are also currently having problem in doing business there as most of their factories have been affected by floods, said Japan Research Industries and Industrial Technology Association (JRI) Director General, Seiji Oshima.
He said this during a visit to the Kota Kinabalu Industrial Park (KKIP) head office in Sepanggar near here to study the investment possibility in Malaysia.
The group of seven officials was led by a Committee Member of the Hiroshima Chamber of Commerce, Tadasuke Tayama.
According to Oshima, Japanese industrialists were also looking at other places such as China, India, Vietnam, Cambodia, Singapore and Indonesia.
Lawrence G Kimkuan, Senior Marketing Manager of KKIP, in briefing the visitors said there were many favourable factors for Japanese investors to consider coming to Malaysia, especially Sabah.
Firstly, he said, Sabah has more land for industrial development.
Moreover, the natural resources in the State are not fully tapped yet.
"There is an abundant supply of raw materials such as silica, rubber, palm oil, oil and gas, bio-tech and timber in Sabah for downstream activities or production of value add products and by-products," Kimkuan told the Japanese study group.
He told them that there is also a quality work force available at wage levels that are lower than states in Peninsular Malaysia. More over, the cost of living in Sabah is also lower compared to some other Asian countries.
Sabah also offers a complete package such as good lifestyle with modern shopping facilities, beaches and islands, majestic Mt. Kinabalu, cheap seafood, beautiful golf courses with lower fees and affordable resorts and hotels.
Not only that, Malaysia also has the advantage of having stability in its political, financial and judicial systems, the KKIP official told them.
During the briefing at KKIP, the Japanese group announced that part of the purpose of their tour of Malaysia was to introduce some of their new technologies. These included the Ultra High Pressure System and the Portable Toilet.
Also present at the briefing was Melvin Disimond, KKIP's Deputy Chief Executive Officer (Operations).
Japanese industrialists who are using Thailand as their base are also currently having problem in doing business there as most of their factories have been affected by floods, said Japan Research Industries and Industrial Technology Association (JRI) Director General, Seiji Oshima.
He said this during a visit to the Kota Kinabalu Industrial Park (KKIP) head office in Sepanggar near here to study the investment possibility in Malaysia.
The group of seven officials was led by a Committee Member of the Hiroshima Chamber of Commerce, Tadasuke Tayama.
According to Oshima, Japanese industrialists were also looking at other places such as China, India, Vietnam, Cambodia, Singapore and Indonesia.
Lawrence G Kimkuan, Senior Marketing Manager of KKIP, in briefing the visitors said there were many favourable factors for Japanese investors to consider coming to Malaysia, especially Sabah.
Firstly, he said, Sabah has more land for industrial development.
Moreover, the natural resources in the State are not fully tapped yet.
"There is an abundant supply of raw materials such as silica, rubber, palm oil, oil and gas, bio-tech and timber in Sabah for downstream activities or production of value add products and by-products," Kimkuan told the Japanese study group.
He told them that there is also a quality work force available at wage levels that are lower than states in Peninsular Malaysia. More over, the cost of living in Sabah is also lower compared to some other Asian countries.
Sabah also offers a complete package such as good lifestyle with modern shopping facilities, beaches and islands, majestic Mt. Kinabalu, cheap seafood, beautiful golf courses with lower fees and affordable resorts and hotels.
Not only that, Malaysia also has the advantage of having stability in its political, financial and judicial systems, the KKIP official told them.
During the briefing at KKIP, the Japanese group announced that part of the purpose of their tour of Malaysia was to introduce some of their new technologies. These included the Ultra High Pressure System and the Portable Toilet.
Also present at the briefing was Melvin Disimond, KKIP's Deputy Chief Executive Officer (Operations).
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