Fourteen Mcast students got the chance to witness first-hand the operations of Palumbo Malta Superyachts in a collaboration intended to help them draw experience from the working world.

This was the first time that the Malta College of Arts, Science and Technology organised such a visit, and the students from the welding and fabrication course, accompanied by their lecturer, got a real-world lesson at the shipyard.

“The shipyards have always held a central place in the country’s economic, political and social history. It was considered to be the best ‘school’ in Malta where skills could be learnt from experienced masters involved in shipbuilding and repair. We hope to be able to continue passing on this expertise to today’s students,” shipyard CEO Antonio Palumbo said.

The students were taken around Dock 3 where the benefits of a covered dock, the operations carried out within and the way the dock gate functioned, were explained. They were then taken around the pumping station and shown how the machinery operates, before moving on to Dock 2 where students had the chance to put all their technical questions to the experts.

“This was the first time we have had students visit the shipyard and their interest was palpable; we hope to have many more,” Mr Palumbo said.

Premier Capital plc bond issue oversuscribed

Premier Capital plc, the developmental licencee for McDonald’s in the Baltics, Greece, Malta and Romania, has announced that due to over-subscription for the €65 million 3.75 per cent Unsecured Bonds 2026, the subscription lists which opened on November 14, closed soon afterwards.

Interest on the bonds will start to be paid on Wednesday and any unallocated monies will be refunded by November 28.

The bonds are expected to be admitted to the Malta Stock Exchange on November 30. Trading is expected to start on December 1.

Premier Capital plc will announce the criteria to be adopted regarding the ac­ceptance of applications by tomorrow.

Prohealth Ltd appointments

Prohealth Ltd, importers and distributors of pharmaceutical and dermo-cosmetic brands since 1995, has strengthened its corporate governance. Com­­pany co-founder and direc­tor Peter Apap has been appointed chief executive officer.

The other co-founders and executive directors – John Jaccarini and Andrew Paris – have been given responsibility for export business development, and procurement and regulatory affairs respectively.

Joseph F.X. Zahra, a consultant with Prohealth for the past two years, chairs the board of directors in a non-executive capacity. The company also announced the appointment of Andrew Spiteri Willets as financial controller.

These changes are aimed at growing the company’s market share in Malta as well as the introduction of new products, and continued rapid growth of its more recently established medical devices division.

“This restructuring will also enable Prohealth to embark on a more aggressive drive to develop further business in new export markets in addition to its established Libya market in the years to come,” a company statement said.

Record Mazda global car sales

Mazda Motor Corporation sold a record 775,000 vehicles in the first half of its 2016-17 fiscal year, slightly more than the previous record set last year.

Europe, including Turkey, contributed 123,000 units, up 12 per cent year-on-year, due to robust sales of the small SUV Mazda CX-3, and Mazda MX-5 roadster. The company also reported solid growth in China (+22 per cent to 133,000), the ASEAN region (+18 per cent to 54,000) and Australia (+ four per cent to 60,000).

First-half revenue of €13.1 billion was down in yen terms because of the strengthening Japanese currency but up in both euros and dollars. Mazda reported an €748 million operating profit between April 1 and September 30 and net income of €475 million.

The carmaker has launched two new SUVs: the Mazda CX-4 in China and the Mazda CX-9 in North America, Australia and elsewhere. Model updates  being rolled out in Europe include the 2017 Mazda 6 and 2017 Mazda 3.

Production of the all-new Mazda MX-5 RF, the power retractable hardtop version of the roadster, began in October, and the all-new Mazda CX-5, the brand’s top-selling model in Europe, will be unveiled later this month at the Los Angeles Auto Show.

The carmaker reaffirmed its global sales target of 1.55 million vehicles for the fiscal year ending March 31, 2017.

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