News about Sarawak

Jessica said venturing into the peninsular is not on the table due to a saturated market, which is currently dominated by “big players”.

The project, under the Sarawak Rural Water Supply Department, is expected to be completed by April 9, 2027.

Citaglobal said the contracts are expected to contribute positively to its future earnings and net assets per share for the financial year ending Dec 31, 2024, (FY2024) until FY2026.

The average selling price of aluminium is expected to be supported by slow Indonesian expansion, demand from electric vehicles and solar farms, and the increase in US tariffs on Chinese aluminium imports to 25%, from 7%, the house said.

The value of the subcontract is more than four times Sunmow's current market capitalisation of RM232.

It is part of Knight Frank Malaysia’s strategic expansion plan to enhance its presence across Malaysia.

But the declines in topline contribution were offset by higher year-on-year revenue across the group’s other segments, led by the road maintenance and property development divisions.

Under the revised contract, SIBS is required to deliver 632 residential units in Sering district within a 36-month period, followed by a 24-month defect liability period upon issuance of a certificate of completion and compliance for each section.

It said both parties have mutually agreed to terminate the contract, resulting in an unconditional release and indefinite discharge of all claims, liens, and obligations related to the project works.

For the full year, CMS’ net profit more than halved to RM115.