News by THEEDGEMARKETS.COM

10 more patients recovered today, bringing total recoveries to 8,318 cases or 96.3% of overall cases.

“I will campaign for Shafie. And I will explain why we chose Shafie. And I hope that we will all understand that while I may not be a candidate, he is like me and all of us, in that he is against kleptocrats.”

Of the 10 new infections, four were imported cases and six were local transmissions involving four Malaysian citizens and two foreigners, said MoH director-general Datuk Dr Noor Hisham Abdullah.

Datuk Dr Noor Hisham Abdullah: If you are infected, that does not mean that you will not be infected again, because the antibody that is built up may not be sufficient to defend against a second infection.

MRCB explained that the higher earnings were due to the commencement of revenue recognition from the group’s 1060 Carnegie development in Melbourne upon the handover of units to purchasers, and further construction progress and revenue recognition from the Sentral Suites development in KL Sentral.

IJM said its property development business, the group’s biggest revenue contributor, was boosted by the completion of the Royal Mint Gardens in London, UK. However, due to the recognition of impairment of inventories in 4QFY20, pre-tax profit came in 19% lower compared with the preceding year’s corresponding quarter.

MoH director-general Datuk Dr Noor Hisham Abdullah: In comparison, the recovery rate of Covid-19 cases in Malaysia (96.4%) is among the highest among Asean countries. Besides that, the Covid-19 mortality rate in Malaysia is also among the lowest in the world. No case of Covid-19 death has been reported in the past 12 days.

In a research note today, CGS-CIMB said the group could hit its current target — which is subject to revision once market conditions normalise — due to its good sales momentum and aggressive marketing initiatives.

Relaxation measures recently introduced by the government will help jumpstart the local market, according to Savills Malaysia.

“Gamuda’s net gearing remains at a reasonable level of 35%. It maintains a high cash balance of RM2.5 billion and receives strong support from banks. About half its debts are long-term borrowings. Hence, (even without the deal) it will be able to be to sustain its operations, despite slow sales and slow construction progress billings.”