News by theedgemalaysia.com

Malaysia Rail Link Sdn Bhd (MRL) said it will remain the asset owner of the East Coast Rail Link (ECRL) throughout its operational phase, regardless of its planned joint venture (JV) with the project's main contractor, China Communication Construction Company Ltd (CCCC), to share the operational risks of the project once construction is completed.

Construction and power utilities group JAKS Resources Bhd (KL:JAKS) has partnered with Shanghai-based China Power Engineering Consulting Group International Engineering Co Ltd (CPECC INT'L) to bid for the development of solar photovoltaic (PV) plants with a maximum aggregate capacity of 500 megawatt of alternating current (MWac), under the Energy Commission’s fifth Large Scale Solar (LSS5) programme.

Minetech Resources Bhd (KL:MINETEC) has bagged a contract to undertake the proposed construction and completion of road and drainage works for Banting Industrial City in Kuala Langat, Selangor, worth RM4.05 million.

Kimlun Corp Bhd (KL:KIMLUN) is forming a joint venture company (JVco) with Singapore-listed Astaka Holdings Ltd’s (AHL) indirect 50.99%-owned unit Astaka Capital Sdn Bhd (ACSB) to develop a residential serviced apartment project in Johor Bahru.

Kenanga Research said real estate investment trusts (REITs) are not the best alternative to holding cash, while reiterating its 'neutral' call on the sector.

Internet of Things (IoT) solutions provider G3 Global Bhd (KL:G3) has secured a project to develop the National Integrated Migrant Workers Dormitory (NiMWD) for the Maldives government.

Construction company Aneka Jaringan Holdings Bhd (KL:ANEKA) has secured a RM53 million sub-contract for the execution of bored piles and precast reinforced concrete piles works in Selangor.

Construction and trading group Pesona Metro Holdings Bhd (KL:PESONA) said it is diversifying into property development through the acquisition of a 51% stake in the developer of a high-rise residential project in Bukit Jalil, for RM40.8 million in cash.

Development of the Johor-Singapore Special Economic Zone's (JS-SEZ) infrastructure will be co-financed by the government and the private sector, Economy Minister Rafizi Ramli said.

Malaysia’s central bank on Thursday kept the benchmark interest rate unchanged as widely expected, amid resilient economic growth and manageable inflation.