News by Shazni%20Ong

MoF will issue government-guaranteed Islamic bonds to raise the required funds for the massive rail transportation project, according to Mass Rapid Transit Corp Sdn Bhd (MRT Corp) chief executive officer (CEO) Datuk Mohd Zarif Hashim.

Speaking at MRT Corp’s media briefing, its chief executive officer Datuk Mohd Zarif Hashim (pictured) said the project’s construction cost is expected to be RM31 billion pending confirmation after the completion of the open tender exercise.

The minister told the media that the jobs will be awarded in the fourth quarter of this year.

The resignation is with effect from Monday (March 7), MRT Corp said in a statement on Thursday. “MRT Corp takes this opportunity to express our gratitude for the commitment and invaluable contribution made by Datuk Wira Azhar during his tenure and wishes him the very best in his future endeavours,” the company added.

Revenue however slipped 7.28% to RM1.03 billion, from RM1.11 billion, on lower contributions from its property development segment, the group said in a filing with Bursa Malaysia.

This is after, among others, the creation of an industrial development fund (IDF), which will be part of the investment and asset manager business under Sime Darby Property’s SHIFT 25 business model.

According to the property developer's filings with Bursa Malaysia on Thursday (Feb 24), revenue however dropped to RM136.45 million in the fourth quarter ended Dec 31, 2021 (4QFY21) from RM194.11 million

“(For the full year) Sime Darby Property recorded an impressive RM3 billion sales achievement for FY21. This exceeded the group’s FY21 sales target of RM2.4 billion and is a significant 50% year-on-year increase from the previous year,” the company said.

The sukuk is based on the shariah principle of Musharakah-rated A2 by RAM Ratings, said the Maju Holdings Sdn Bhd-owned highway concessionaire.

The price revision effective Thursday (Feb 17) is due to significant and sustained rising cost of raw and packaging materials and freight charges, CMS said in a statement.