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The sale price represents a 59.

Once the notice to proceed is issued, Gamuda will have six years to complete the contract.

The latest winding-up petition was filed by Negeri Sembilan Cement Industries Sdn Bhd (NSCI) against Ho Hup and its 90%-owned subsidiary, Tru-Mix Concrete Sdn Bhd.

That means Gamuda should be valued at RM8.

Annum had also previously had trouble issuing its annual report for the financial period ended June 30, 2023 (FY2023) that was initially due on Oct 31, 2023.

IIB president and chief executive officer Datuk Idzham Mohd Hashim said strategic investments, infrastructure enhancement, and sustainability are at the core of this initiative.

To support the JS-SEZ, the government has announced incentives, including a special corporate tax rate, to lure investors to set up shop in the zone that stretches from Kulai and part of Pontian to Pengerang.

The economists' comments followed the signing of the long-awaited JS-SEZ agreement on Tuesday between Prime Minister Datuk Seri Anwar Ibrahim and Singapore Prime Minister Lawrence Wong.

In tandem with the third phase of Senai Airport City’s industrial development expansion measuring some 300 acres, NISB has been appointed as the contractor for earthworks to provide investors with industrial plots ready with platform and corresponding infrastructure.

"The JS-SEZ has the potential to attract significant international capital through the various initiatives that have been announced.