News by Wong Ee Lin

"According to (Kerjaya Prospek Group's) management, it is seeing more requests by clients to move the progress timeline of their projects in order to manage payments to contractors."

In a bourse filing yesterday, Pintaras said the contracts were secured via its indirect wholly-owned subsidiary in Singapore, Pintary Foundations Pte Ltd.

The contract was awarded to LBU when Bustari’s brother Datuk Seri Fadillah Yusof was then public works minister in June 2015.

The two projects are also known as Duta-Ulu Kelang Expressway (DUKE) Phase-3.

The group now has four stores in Vietnam and has closed down its only store in Myanmar last December. Parkson's Indonesia operations also recorded a negative SSS growth of 2% amid the soft consumer sentiments and competition. It owns and operates 15 stores there.

Sime Darby Property said the group's future prospects are underpinned by its continuous commitment to grow core profit, reduce inventories, and to maintain its sales momentum

The acquisition is its second this year after it announced it was buying MPSB Venture Sdn Bhd for RM28 million in May. 

Seacera said the claim is in relation to facilities of RM5.16 million and RM31.3 million provided under the Commodity Murabahah Revolving Financing-i scheme. 

Both companies will be jointly submitting a tender to the Energy Commission of Malaysia (EC) in the name of Fajarbaru-Gezhouba-Potential Region Consortium.

The project is to be completed by Aug 25 next year.