News by Justin Lim

The establishment of the Johor-Singapore Special Economic Zone (JS-SEZ) has garnered attention, but more effort is needed to enhance its competitiveness to attract investments, according to Knight Frank executive director Amy Wong Siew Fong.

Gamuda Bhd (KL:GAMUDA) said its consortium has been appointed as the main contractor to deliver the first civil works package worth over RM8 billion for the Penang Light Rail Transit project.

Malaysian Resources Corp Bhd (KL:MRCB) has confirmed it has withdrawn from a Berjaya-led consortium which is bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project.

JAKS Resources Bhd (KL:JAKS) said its indirect subsidiary MNH Global Assets Management Sdn Bhd has filed for the establishment of a medium-term note (MTN) programme of up to RM250 million with the Securities Commission Malaysia.

WCT Bhd recorded a net profit of RM173.22 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM13.54 million a year earlier, thanks to the remeasurement of interest in a jointly controlled entity amounting to RM184 million.

The petition, initiated in late August, sought an unpaid sum of RM184,438.80, alongside statutory interest of 5% per annum from March 1, 2024 and costs of RM3,000. 

Property developer SkyWorld Development Bhd (KL:SKYWLD), which made its Main Market debut in July last year, said it is on target to launch developments with an estimated gross development value of RM4.6 billion by 2026, having achieved RM1.1 billion worth of launches so far.

Sime Darby Property Bhd (KL:SIMEPROP) said it has already hit 91% of its full-year sales target of RM3.5 billion for 2024 by September. Its unbilled sales stood at RM3.7 billion.

The stop-work order stemmed from complaints from nearby residents about an explosion at the site.

Mudajaya Group Bhd (KL:MUDAJYA) has bagged a contract worth RM41.34 million for the construction of a 17-storey condominium in Kuching, Sarawak.