News by Arjuna Chandran Shankar

Lim said the congestion charge will pay for the bonds issued to finance the proposed takeover of four Klang Valley highways — the LDP, Sprint, Kesas and SMART Tunnel — for RM6.2 billion.

Mohd Anuar said that the JKR Sabah is currently evaluating if it can meet the initial Dec 31, 2021 completion date.

Goldman Sachs was the advisor for the issuance of US$6.5 billion in bonds issued by 1MDB for fees of US$600 million.

Its subsidiary received a LoA from Idaman Putrajaya Sdn Bhd to undertake refurbishment works at the Pullman Putrajaya Lakeside Hotel.

This comes in as Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail told the press that the decision to not increase cement prices was reached on Tuesday.

The sale is expected to result in a pro forma gain of RM487.81 million — improving earnings per share (EPS) by RM1.10, with the group distributing RM177 million of the proceeds as dividends to shareholders within six months of the agreement.

In a statement, the exchange said the trading activities "has been suspended for the rest of the day as the daily short selling trade limit has reached 3% of the issued number of shares of the said securities".

The reason for the renewed interest in the counter is not certain, but some dealers linked it to a possible revival of the acquisition of a 60% stake in the Bandar Malaysia project by IWH-CREC Sdn Bhd, a joint venture between Iskandar Waterfront Holdings Bhd (IWFH) and China Railway Engineering Corp Sdn Bhd.

Meanwhile, Works Minister Baru Brian said the potential rise in cement prices was a concern, as it would have an impact on the domestic construction industry.

The MGO, at RM3.75 a share, was concluded yesterday with YTL Cement acquiring an additional 220.72 million shares or 25.98% of Lafarge.