UOB Kay Hian: Market taken aback by surprise MRT3 cancellation

KUALA LUMPUR (May 31): The cancellation of the third mass rapid transit line (MRT3) has caught investors by surprise and subsequently precipitated another broad market meltdown, which had fallen by the biggest single-day drop since 2008, according to UOB Kay Hian Securities (M) Sdn Bhd.

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RM40b MRT3 project scrapped, says PM

PUTRAJAYA (May 30): The government is scrapping the third mass rapid transit line (MRT3) project, which is estimated to cost up to RM40 billion to build, Prime Minister Tun Dr Mahathir Mohamad said today.

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Maybank Investment: GST zero rate positive but needs more clarity

PETALING JAYA (May 17): Although the imposition of the zero-rated Goods and Service Tax (GST) came earlier than expected, Maybank Investment Bank views the latest announcement by the new Pakatan Harapan (Pakatan) led government as a positive move which could spur the earnings growth of the property development industry.

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‘Business as usual for ECRL’

KUALA LUMPUR (May 17): While the Council of Eminent Persons, set up under the new Pakatan Harapan (PH) government, met heads of infrastructure projects yesterday, it is “business as usual” for the East Coast Rail Link (ECRL) project, a project spokesman told reporters.

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