Maxis Bhd has deferred its staff bonus payment for financial year 2013 after failing to achieve targets for that year.
Chief Executive Morten Lundal told staff last week that bonus will be paid out later this year if Maxis achieves new targets set for the first half of 2014, according to sources.
In a response to queries from The Malaysian Reserve, Maxis issued a statement saying that the company did not achieve its 2013 targets and had deferred the bonus payment. The bonus will be paid “at a later date upon achieving our targets for H1 2014.”
Previous story: 1MDB tipped to develop solar power plant - The Edge
Government owned 1Malaysia Development Bhd (1MDB) is tipped to spearhead the nation’s largest solar power plant project as part of the renewable energy agenda, industry sources said.
According to industry sources, the Energy Commission (EC) and the Sustainable Energy Development Authority (Seda) are considering a proposal to build a 50 megawatt (MW) solar power plant in Kedah. Previous story: Petronas may not meet deadline for investment decision on $19 bln petrochems plant - The Edge
Petroliam Nasional Bhd (Petronas) is looking at another delay in its 60 billion ringgit Refinery and Petrochemicals Integrated Development (RAPID) project as its final investment decision (FID) cannot be made before the deadline by the first quarter of this year.
“The projects will be further delayed as RAPID’s FID will most likely not be approved by the timeline stipulated, which is in march and Petronas will incur a sunk cost of 4 billion ringgit,” a source familiar with the matter told the Edge Financial Daily.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.