Gamuda Bhd and MMC Corp Bhd saw a combined RM2.6 billion wiped out from their market value yesterday as investors reacted negatively to news of the termination of their underground work contract for the mass rapid transit Line 2 (MRT2) project.
The joint venture said it has not received any notice of contract termination.
In a filing with Bursa Malaysia yesterday, Malton said the two companies submitted the bid to the Taipei City authorities on Monday for the construction of the superstructure of the complex. Nan Hai will hold an 80% interest in the bid while Malton will hold the remaining 20% interest.
Mohd Izzaddin also ceases to be chairman of the UEM Sunrise board’s tender committee and member of the board development committee, as well as the employee share option scheme committee.
Despite the decline in ubilled sales, developers seem undeterred by the downtrend and are positive about future sales.
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Analysts expect developers to register flat growth in sales, earnings
MyEG said it has also entered into a put option agreement with Cosmopolitan to obtain an option at MyEG's sole discretion to sell the property back to Cosmopolitan at a sum equal to 66.67% of the purchase consideration within six months from the date of delivery of vacant possession of the property to MyEG.
"The continuous dependency on migrant workers without any intention to upskill the local workers will be construed as the employers are making Malaysia a breeding ground for cheap labour contrary to the aspirations of Malaysians to make Malaysia a high income nation.”
Waste from radiated materials is not easy to dispose of.
But it will still fuel growth, albeit at a slower pace compared with 2Q — economists
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