WLP biz - Laman info pemula

theStar credit photo SYDNEY: Petronas Lubricants International (PLI), the global lubricants manufacturing and marketing arm of Petroliam Nasional Bhd, has opened a new office in Parramatta on Friday, marking its expansion to form a wider Asia-Pacific portfolio. PLI said in a statement that through the establishment of PLI Australia Pty Ltd (PLIA), it expected to better serve its customer base in Australia and New Zealand, as well as to realise its plan to capture 4% of the market share in the two countries by 2021 and increase the company’s sales volume by 32%. PLI managing director and group chief executive officer Giuseppe D'Arrigo said: “We are pleased to officially establish our business operations in Australia, after being present here for almost 15 years through our partnership with CNH Industrial. This will greatly enlarge our reach and significantly strengthen the presence of Petronas brand in the Asia-Pacific region as part of the group’s bigger market expansion s...

Shut down of cigarette plant to affect 230 employees British American Tobacco (M) Bhd (BAT), the country’s biggest cigarette maker, is winding down it manufacturing business in stages with the shut down of its facility in Petaling Jaya expected in the second half of 2017. The company said 230 employees would be affected. The land where the facility is located will be disposed of by way of a public tender exercise. The maker of Dunhill, Peter Stuyvesant and Pall Mall told Bursa Malaysia yesterday that it would be sourcing tobacco products for the domestic market from other BAT group factories regionally. “This increasingly challenging environment requires the company to restructure and transform its business which apart from the winding down of factory operations include the sharpening of its commercial capabilities whilst optimising the supply chain and transactional activities to ensure that BAT remains a competitive consumer-focused market leader,” it said. BAT said the...

The proposed acquisition of Sheraton operator Starwood Hotels & Resorts is set to be the biggest acquisition of a US company by a China-based investor. The AFP photo shows people walking pass a Sheraton Hotel in downtown Brooklyn, New York, on Monday. + Starwood Hotels & Resorts Inc, the operator of Sheraton and Westin hotels, said on Friday it planned to accept a raised buyout offer from a group led by China’s Anbang Insurance and scrap its deal with Marriott International Inc. A succcessful deal would bolster Anbang’s reputation as one of China’s top corporate acquirers and would follow its purchase of New York’s iconic Waldorf Astoria hotel last year. It would also be the biggest acquisition of a US company by a China-based investor. Anbang’s new offer raises the value of Starwood to US$13.16bil (RM53.28bil) from US$12.82bil (RM51.91bil), based on shares outstanding as of Feb 19. Marriott had offered US$12.2bil (RM49.40bil) for Starwood. Anbang has also agree...

He is the would-be Buffett of Beijing: the man out to build a Berkshire Hathaway Inc. of China. In just over a decade, Wu Xiaohui has transformed his company, Anbang Insurance Group Co., from an obscure player in China’s insurance industry into a juggernaut with global ambitions. Now, Wu’s rapid rise is turning heads as China projects its money and influence around the world with new force. In short order, Anbang has agreed to buy 16 luxury resorts in the U.S., including the landmark Hotel del Coronado near San Diego, California, and also launched a surprise bid for Starwood Hotels & Resorts Worldwide Inc., owner of Sheraton, Westin and St. Regis hotels. The combined price tag could approach $20 billion. It’s the latest move in a remarkable run for Wu, who first came to widespread attention outside China when Anbang bought New York’s famous Waldorf-Astoria hotel last year. His swift ascent -- which China’s state media have likened to “the Warren Buffett model” of using ...