News by Syafiqah Salim

According to a statement, Advancecon's group chief executive officer Phum Ang Kia has been able to expand its business to include quarry operations in its model, despite the impact of Covid-19 on the construction and infrastructure sectors for the past year.

Gamuda’s quarterly revenue also decreased by 15.74% to RM747.11 million from RM886.67 million in the immediate preceding quarter. 

The group signed the letter of acceptance last Friday (Dec 17) for the supply, delivery, installation, testing, commissioning, operations and management of network infrastructure for PNB's new office at Merdeka 118.

The group said it is acquiring the stake in Space Alliance Contracts Sdn Bhd to tap into the renovation industry.

Eco World Development Bhd (EcoWorld)’s net profit dropped 42.72% to RM42.84 million for the fourth quarter ended Oct 31, 2021 (4QFY21), from RM72.27 million a year ago, on lower contribution from its Malaysian joint ventures (JVs) and its international arm Eco World International Bhd (EWI) due to the lockdown.

The group said this was mainly due to share of losses in joint ventures, and higher finance cost following cessation of capitalisation of finance cost on general borrowings in tandem with the handover of apartment units in Yarra One in Melbourne.

Under the exercise, up to 55.76 million new shares, representing 10% of JHM’s 557.6 million issued shares, will be issued to independent third party investors to be identified later, the semiconductor group said in a bourse filing.

The group said it is selling the land with a four-storey detached factory on it to GSH Precision Technology Sdn Bhd.

The airports operator said the airports nationwide have a total of 808 commercial outlets, of which 70% have been tendered out previously and a majority of it have been awarded.

According to its draft initial public offering (IPO) prospectus posted on the Securities Commission Malaysia’s website, 800 million new shares will be issued — representing about 25% of its enlarged issued share capital — of which 200 million shares will be made available for application by the Malaysian public.