SunCon intensifying pursuit of overseas construction jobs
Sunway Construction Group Bhd (June 12, RM2) Maintain underweight with a fair value (FV) of RM1.
Nik Faisal may have duped us about Aabar Investments — ex-SRC chairman
KUALA LUMPUR (June 13): Former SRC International Sdn Bhd chairman Tan Sri Ismee Ismail (pictured) agreed with former premier Datuk Seri Najib Razak’s lawyer Harvinderjit Singh that the company’s board may have been duped by its managing director (MD) Nik Faisal Ariff Kamal over its venture with Aabar Investments PJS.
Ismee: SRC board not told about secret bank account by MD and 1MDB CEO
KUALA LUMPUR (June 13): Former SRC International Sdn Bhd chairman Tan Sri Ismee Ismail (pictured) concurred with Datuk Seri Najib Razak's lawyers that the board which he had chaired from August 2011 to August 2014 was never informed by former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi about an earlier account opened by the company on January 2011.
Crest Builder to focus on construction segment in FY19
Crest Builder Holdings Bhd is expecting its financial performance in the financial year ending Dec 31, 2019 (FY19) to be "close enough" to its record FY18, which benefitted from a slew of property launches in Shah Alam.
Over 1,000 firms eyeing 40% civil works portion of ECRL project
KUALA LUMPUR (June 12): More than 1,000 construction companies nationwide are eyeing the 40% civil works portion of the RM44 billion East Coast Rail Link (ECRL) project following a Pre-Qualification (Pre-Q) exercise to identify potential subcontractors.
Defence goes into overdrive to prove Najib was not in control of former 1MDB's unit SRC
KUALA LUMPUR (June 11): Today’s afternoon session of the trial against former Prime Minister Datuk Seri Najib Razak over his alleged involvement in embezzling funds from SRC International Sdn Bhd saw the defence going into overdrive to prove he was not in control of the special purpose vehicle (SPV).
Lim Goh Tong's grandson breaks silence amid Donaco leadership transition
KUALA LUMPUR (June 11): Donaco International Ltd, which is linked to the late Genting Group founder Tan Sri Lim Goh Tong's grandsons, said today Benjamin Lim Keong Hoe's (pictured) role as interim chief executive officer (CEO) and managing director has now concluded following Paul Arbuckle's appointment as CEO.
MBSB in midst of restructuring for banking unit to be holding company
KUALA LUMPUR (June 11): Malaysia Building Society Bhd (MBSB) is undertaking an internal restructuring that will result in its wholly-owned banking subsidiary — MBSB Bank Bhd, formerly known as Asian Finance Bank Bhd — being the group's holding company within the next two years.
No decision on fuel subsidy yet, says PM
PUTRAJAYA (June 11): The government has not come out with a decision on the targeted fuel subsidy mechanism that was proposed in the election manifesto, said Prime Minister Tun Dr Mahathir Mohamad.
