Future fair: (From left) Tan, Gandhi and Goi show the future plan for a bigger-scale MIFF in 2018 during the MIFF 2016 pre-show press conference in Kuala Lumpur. Malaysia will stand to benefit from the Trans-Pacific Partnership Agreement (TPPA), as there would be fewer barriers for the export of Malaysian-made furniture to the United States, said United Business Media (M) Sdn Bhd (UBM) managing director M Gandhi. “The good thing about the TPPA is that it is not in conflict with the other free trade agreements (FTAs). “It is an addition to what we already have. “One of the biggest buyers of Malaysian furniture is the US, and it is part of the TPPA. “In fact, most furniture exports are to countries that are a part of the TPPA “Besides that, one of our competitors is China, and China is not part of the TPPA. So, Malaysia will be more competitive in exporting to the TPPA countries,” added Gandhi. The upcoming Malaysian International Furniture Fair (MIFF) 2016, which is t
Tenaga Nasional Bhd (TNB) has signed a new power purchase agreement (PPA) with Powertek, a wholly owned subsidiary of 1Malaysia Development Bhd for an extension of three years ten months following a conditional letter of award by Energy Commission to Powertek in August 2015.
“This new PPA governs the rights and obligations of both parties throughout the term of the extension and on the sale and purchase of all the capacity and the electrical energy generated by Powertek from its 434MW open-cycle power plant located at Telok Gong, Melaka,” TNB said in a filing with Bursa Malaysia.
Three of the units in the Powertek Facility is scheduled to commence operations from March 1, 2016 until Dec 31, 2019 while, another unit is scheduled to commence operation from March 15, 2016 until Dec 31, 2019.
TNB and Powertek had on Dec 10, 1993 executed an original PPA for the sale and purchase of all the capacity and the electrical energy generated by the Powertek facility in accordance with the terms and conditions set out in the original PPA. The original PPA has expired on Jan 13, 2016.
The utility giant said the signing of the PPA would not have any effect on the issued and paid-up share capital and the substantial shareholders’ shareholdings of TNB and would have a “neutral impact on the earnings of TNB” over the term of the extension.
source: theStar
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