News about construction

Ekovest said the two groups will participate in infrastructure concession assets, large-scale infrastructure projects, food security and trading initiatives, retailing ventures and transit-oriented development (TOD) projects.

The construction firm has proposed to undertake a renounceable rights issue of up to 243.

Ho Hup said Golden Wave has filed a lawsuit in the Kota Kinabalu High Court seeking to set aside the entire adjudication decision under the Construction Industry Payment and Adjudication Act, citing concerns of natural justice and impartiality.

There are currently 20 "buy" calls and only one "sell" call on Gamuda, with a 12-month average target price (TP) of RM5.

The group’s construction and property earnings grew 35% to RM195 million in 1QFY2024, compared with 1QFY2023’s earnings of RM145 million.

This project is part of Singapore’s 15-kilometre (km) Cross Island Line Phase 2 (CRL2) Mass Rapid Transit (MRT) line, which is also Singapore’s eighth MRT line, comprising six stations.

The research house said IJM Corp’s job replenishment trend has improved, and the group is well-positioned to take on upcoming major projects, such as the civil work packages for Mass Rapid Transit 3, the New Pantai Expressway extension — estimated at RM1 billion — and to be supported by some warehouse and semiconductor facilities projects.

MRCB said the decline in revenue was due to much lower contributions from the property development and investment division, as well as the engineering, construction and environment division, following the completion of three major infrastructure construction projects last year and two major property development projects in the first half of 2023 (1HFY2023).

OSK said, in a filing with Bursa Malaysia on Monday, that it recorded stronger sales revenue for its power cable and industrialised building system (IBS) wall-panel manufacturing, driven by both local and export sales.

Kerjaya Prospek said it will be taking necessary steps under the letter of award (LOA) after advice from its solicitors “to enforce its right to recover the pre-agreed damages payable stated in the LOA, which is due and payable by BCM to [wholly owned subsidiary] Kerjaya Prospek (M) Sdn Bhd”.