News about construction

KUALA LUMPUR (March 26): Permaju Industries has teamed up with OCR Group Bhd to develop a residential and commercial project with an estimated gross development value (GDV) of RM1 billion in Kota Kinabalu.

KUALA LUMPUR (March 21): Sunway Construction Group Bhd announced yesterday that it has, via its subsidiaries, bagged two piling works contracts worth a combined value of RM86.

Construction sector Maintain underweight: The Star daily on Sunday quoted Penang Chief Minister Chow Kon Yeow that since the RM1 billion bridging loan from the federal government for the Penang Transport Master Plan (PTMP) was not forthcoming, the project delivery partner (PDP), SRS Consortium, would now have to source for the funds.

KUALA LUMPUR (March 18): While sentiment on the construction sector is seen to have somewhat recovered, construction stocks are seen to be running ahead of its fundamentals, according to MIDF Amanah Investment Bank Bhd Research.

KUALA LUMPUR (March 14): Cahya Mata Sarawak Bhd (CMS) said its indirect joint-venture (JV) entity has been awarded the contract to construct a bridge crossing with a connecting road in Bintulu, Sarawak for RM466.

KUALA LUMPUR (March 12): Zelan Bhd has initiated arbitration proceedings against NRY Architects for as much as RM305.

KUALA LUMPUR (March 6): Sunway Construction Group Bhd’s unit Sunway Geotechnics (M) Sdn Bhd has launched a lawsuit against Ikhmas Jaya Group Bhd’s wholly-owned subsidiary Ikhmas Jaya Sdn Bhd, seeking RM8.

KUALA LUMPUR (March 5): Cahya Mata Sarawak Bhd’s unit, PPES Works (Sarawak) Sdn Bhd (PPESW), is partnering with China Communications Construction Co Ltd (CCCC) to bid for jobs under the Sarawak Coastal Road Network project and the Second Trunk Road project in the state.

KUALA LUMPUR (Feb 26): Wider profit margin helped to lift Sunway Construction Group Bhd’s (SunCon) earnings for the fourth quarter ended Dec 31, 2018 (4QFY18).

KUALA LUMPUR (Feb 25): The construction sector, the worst-performing sector in 2018 with the Bursa Malaysia Construction Index (KLCON) declining by more than 50% during the year, may now be seeing the light at the end of the tunnel.