The MACC says it is also probing the matter...
“It (e-wallet) is a very expensive game, so consolidation will come because some [smaller] players will just fall off, while some bigger players may look into mergers and acquisitions."
According to sources, the concessionaire will be given a 20-year extension.
Public Investment Bank expects awards to pick up in 2020, given the mildly expansionary Budget 2020 announcement, which includes a RM56 billion allocation for development expenditure.
While the KL Property Index saw a rise at the start of 2019, touching a high of 964.6 points on Feb 21, the trend turned negative for the rest of the year with the index declining to a low of 747.62 during the year.
Under the partnership, TLA will invest RM80 million in RCSB, of which RM40 million is for equity participation and another RM40 million for project financing.
“Our order book is currently RM1 billion with bids for RM1 billion mostly for infrastructure projects,” explained TSR Capital executive director Joshua Lim. “We have our own fleet of machinery and we want to make use of that."
Cold Storage, which has operated since the shopping centre was known as Jaya Supermarket, started a closing-down sale on Saturday, but the shelves were already practically empty by 5pm on the same day.
As such, Gamuda Bhd prefers to look overseas for more contracts and aims to derive half of its construction revenue and profit from international jobs over the next three years.