If PO type contract, yes. Folks I known literally pay 0 tax, B40 while earning T10 salary. In Msia only 1.3M ppl pay tax out of the 34M we have.

Half of 34mil ppl do not need to pay tax.

Sedey.. They are not targeting MISC former employees...

I believe his/her company (the PO issued to) need to pay tax.

It is true..

MODEC is coming to Malaysia..
https://www.linkedin.com/posts/modec-group_...=member_desktop

This post has been edited by abgkik: May 28 2024, 09:00 PM

Is Malaysia the global headquarters for FPSOs design/engineering? SBM, Modec, Yinson, Bumi Armada, MISC, Aker....all global powerhouses with operations here.

Although Bumi Armada sadly seems to no longer be competitive in the floating space

Bumi Armada is expending their business with Production Sharing Contract for Akia exploration block in the North Kalimantan Province, Indonesia.. for sure they will have they own FPSO

It's a fairly small block and will materialise at the soonest, in 4 to 5 years time (if we are being optimistic).

Yinson in Singapore...

Sapura Energy's external auditor issues unqualified opinion on its audited FY2024 financial statements


KUALA LUMPUR: Sapura Energy Bhd's external auditor has issued an unqualified opinion with material uncertainty on its ability to continue as a going concern for its audited financial statements for the financial year ended Jan 31, 2024.

In a filing with Bursa Malaysia Securities Sapura Energy said, Messrs. Ernst & Young PLT said the group had prepared its financial statement on a going concern basis when the validity of it is highly dependent on obtaining extensions for restraining orders; favourable outcomes of the legal claims for the terminated engineering & construction projects; and the successful and timely implementation of the proposed scheme of arrangements which requires Sapura Energy and its companies to secure approvals from at least 75 per cent of the scheme creditors in the court convened meetings.

Sapura Energy group and company's current liabilities exceeded their current assets by RM14.5 billion and RM2.2 billion respectively, and the group is facing severe liquidity constraints.

"Should the going concern basis for the preparation of the financial statement be no longer appropriate, adjustments would have to be made in the financial statements relating to the amounts and classification of the assets and liabilities. No such adjustments have been made to these financial statements," the auditor said.

"Our opinion is not qualified in respect of this matter," Ernst &Young said.


Key audit matters disclosed in external audit report in the company's annual report include impairment assessment of goodwill on consolidation and property, plant and equipment ; and revenue from construction contracts recognised on percentage of completion method.

In response, Sapura Energy said its board expects that a mutually beneficial scheme of arrangement is likely achieve majority support of creditors.

This is because it will be able to offer higher recovery under the scheme of arrangement compared to the recovery under liquidation, and that the group has sufficient funds to sustain its operations until such a scheme is concluded.

Sapura Energy acknowledged that while there exists material uncertainties which may cast significant doubt about the ability of the group and of the company to continue as a going concern, its board is of the opinion that the going concern basis used in the preparation of financial statements is appropriate, and no adjustments were necessary to the recoverability and classification of the carrying amount of assets or the amount and classification of liabilities.


https://www.nst.com.my/business/corporate/2...ied-opinion-its

Anyone getting offer from Modec Malaysia yet?

Already done and dusted ? from what ive heard [Unconfirmed?]

Lanyard company already freezing all hiring this past 2-3 weeks . Doesnt seem good . More so more interested in knowing whats going to happen to the people in SKA.

More so with the upcoming handover in the malay basin which is going to flood people with the transition , dont think its going to be a good time for people to join or atleast very hard to get into green comp.

They seem to be ramping up development in brunei , more people are getting transferred there.

Bumi at the moment no new projects for a long time..this is fact and reality.
SBM KL just signed contract for Suriname FPSO with technip energies partner. Both doing the project in KL office.

From headcount perspective who has the biggest manpower in KL for FPSO players? SBM?

Should be MISC or SBM.


This post has been edited by ZZMsia: Jun 14 2024, 08:08 PM

It’s unclear the scope of PETROS in the Sarawakian gas business after they took over the business from the green company.

I know that the green company is reevaluating its investments in new platforms developments in Sarawak. Cost cutting is in the cards as it lost the gas business in Sarawak. Inevitably hiring of new staff will slow down or maybe frozen.

Got email from modec requesting my data. Anyone got the same?

I believe the transition should start next month. People are talking that the impact may be seen in next quarter

Hi all, got headhunted by Aramco and shortlisted for interview in Singapore.
Questions for those who are working under aramco

Is this the norm to fly to singapore for interview for aramco?