News by JUSTIN LIM

Sunway Construction Group Bhd's (SunCon) net profit for the fourth quarter ended Dec 31, 2022 (4QFY2022) declined 29.48% year-on-year (y-o-y) to RM45.65 million from RM64.73 million, dragged mainly by lower contribution from construction segment.

The group attributed the lower earnings to the fall in other operating income, which declined by 88% to RM17.01 million from RM146.09 million a year before.

The four buyers are acquiring Provectus Bioenergy Sdn Bhd for RM115,688 from Ee Hood Liang and Wong Pak Wei.

YKGI said its 80.36%-owned subsidiary ASTEEL Development Sdn Bhd will undertake the Housing Development Corporation project.

IJM Properties is an indirect wholly-owned unit of IJM Corp Bhd, who also owns 26.65% stake in WCE.

With the latest new job win, which is its largest contract to date, Haily’s total outstanding orderbook has increased to RM660.77 million. 

Recently-listed Vestland Bhd has bagged two construction contracts worth a combined RM200 million from subsidiaries of Tafi Industries Bhd.

This is the third contract award secured by Muhibbah in the last three months.

He will be taking over from the current CEO and MD, Liew Hau Seng, who has announced his intention to retire effective March 31.

Advancencon Holdings Bhd is collaborating with the Perak State Development Corporation (PKNPk) to initiate a pilot project for the development of centralised labour quarters (CLQ) in Perak, with the aim of supporting the growth rate of the state’s industrialisation and economic development.