KUALA LUMPUR: Syarikat Prasarana Negara Bhd has issued the letter of award to CMC-Colas-Uniway (CCU) to undertake works on the Kelana Jaya Line extension project worth RM673.92 million.

In a statement on Tuesday, June 21, Prasarana said the job entailed the engineering, procurement, construction, testing and commissioning of system works for the project.

KUALA LUMPUR: ICI Paints (M) Sdn Bhd expects positive growth this year, driven by its new eco-friendly paint Dulux Pure, which is specifically formulated to purify interior air.

Its managing director C W Goh said the new paint, priced from RM25-RM40 per litre, has been in the market for about a month and received good feedback from consumers and retailers.

PETALING JAYA: Property developer ARK Resources Bhd's rights issue of 15.47 million shares was undersubscribed at an issue price of RM1.

In an announcement to Bursa Malaysia, ARK Resources said at the closing date on June 1, a total of 12.15 million rights shares were subscribed, out of the 15.47 million rights shares available for subscription.

Malaysian Resources Corp Bhd
(June 21, RM2.20)

KUALA LUMPUR: Unfavourable macro dynamics such as high crude oil prices may weigh on construction companies in the second half of this year as players contend with costlier operating expenses. This could reverse the trend in the first quarter of 2011, as well as the preceding third and fourth quarters of 2010 where local contract margins had actually improved.

KUALA LUMPUR: Hua Yang Bhd's wholly-owned unit Prop Park Sdn Bhd has won an auction bid to acquire a 1.5ha tract in Shah Alam for RM13 million cash. The purchase price translates into slightly less than RM80 per sq feet for the leasehold land.

PETALING JAYA: UEM Land Holdings Bhd has set up a wholly-owned subsidiary in Singapore, which is perceived as a move for the property group to undertake development projects across the causeway.

In an announcement to Bursa Malaysia, UEM Land said the new subsidiary called Sunrise MS Pte Ltd, will be a wholly-owned unit of Sunrise Bhd. The latter is a subsidiary of UEM Land.

KUALA LUMPUR: The High Court has ordered the application for stay of execution on the earlier judgment on the joint development agreement (JDA) on the 60-acre tract owned by Ho Hup Construction Co Bhd to be dimissed.

KUALA LUMPUR: Amcorp Properties Bhd is selling London-based real estate investment firm for RM134 million — a divestment that would put the company in net cash position.

Gamuda Bhd (June 20, RM3.74)