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.
“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.”
The dismissals have already started, said the people, who asked not to be named as the matter is private.
He was responding to questions from reporters yesterday about an outbreak of infections that has been linked to a wholesale market in Beijing, China, where traces of Covid-19 were reportedly detected on the chopping board of a seller of imported salmon.
Of the six locally transmitted cases, four involved Bangladeshi construction workers from what is now known as the 'second construction site cluster in Kuala Lumpur', which was first detected late last month when 44 workers were found positive.
Health director-general Datuk Dr Noor Hisham Abdullah: At this juncture, we do not have any barbershop cluster, as we have only one positive case reported so far.
This brings Covid-19' tally in the country to 8,445, according to Health Director-General Datuk Dr Noor Hisham Abdullah.
In a filing with Bursa Malaysia, MTD ACPI said its wholly-owned subsidiary MTD Construction Sdn Bhd (MTDC) had on May 13 accepted the letter of award from the Northern Corridor Implementation Authority.
Following the completion of Merdeka PNB 118 in four years, the country's largest asset manager would focus on its role as asset allocator.
In announcing the quarterly income in a stock exchange filing yesterday, it also attributed the higher NPI to better cost management, which resulted in 9.8% dip in property operating expenses to RM4.86 million from RM5.39 million a year ago.
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