News about construction

Construction firms could benefit from promised public works, while property developers may gain from housing initiatives tied to job creation.

Maybank IB said making buildings earthquake-resistant adds 5%-10% to structural costs, but this is a small price to pay compared to the potential damage and losses from a major quake.

“We wish to stress that the steel business is still very much the core business of Lion Industries Corporation Bhd and have no plans to shut Amsteel Mills other than for upgrading purposes.

​ The proposed acquisition, initiated on Oct 28, 2023, involves the purchase of a 70% stake in CRSB for a consideration of RM1.

Mayu Global assured that the freezing of the accounts are not expected to have a material financial or operational impact on the group, based on an assessment of its financial position, cash flow projections for the next 12 months, and the availability of hire-purchase facilities.

“While standards are still being developed, procurement policies can start by requiring purchase of the lowest emission steel available,” Miti said.

Some of these mechanisms will limit the emissions of each steel manufacturer, after which the permits can be traded among themselves, creating a price for carbon.

Dormant licences will be revoked, and future approvals will be subject to stricter criteria, including market conditions, technology adoption, and alignment with low-carbon objectives.

The project’s primary scope involves constructing a 34-storey serviced apartment tower with 748 units, a sub-basement service plant, multi-level parking facilities, and public amenities on the 10th floor.

Overseas property earnings advanced 68%, contributing to the 22% overall profit growth.