News about construction

KUALA LUMPUR (Sept 28): Construction costs of homes are expected to fall by 3% to 5% owing to the Sales and Service Tax (SST) exemption on basic construction materials, The Star daily reported Construction Industry Development Board (CIDB) chief executive Datuk Ahmad Asri Abdul Hamid saying today.

KUALA LUMPUR (Sept 26): Crest Builder Holdings Bhd has entered into a memorandum of understanding (MoU) with T7 Global Bhd to collaborate to prepare a detailed technical proposal for the construction and subsequent execution of works for the proposed mixed development, Latitud8 at Jalan Ampang, according to a filing with Bursa.

KUALA LUMPUR (Sept 24): To ease the burden of developers and bring down home prices, skilled foreign labour applying to extend their employment tenure need only pay 80% of the annual RM10,000 levy on foreign workers, said Finance Minister Lim Guan Eng today.

Sunway Construction Group Bhd (Sept 18, RM1.

Construction sector Maintain neutral: For the recent second quarter of 2018 results season, seven (54%) out of the 13 contractors under our coverage reported core earnings that were below expectations and six (46%) were within.

KUALA LUMPUR (September 13): Vertice Bhd is partnering two local construction firms to pursue jobs under two infrastructure projects in Sarawak.

KUALA LUMPUR (Sept 5): Affin Bank Bhd confirmed today it has awarded a RM505 million contract to IJM Corp Bhd for the construction of its 47-storey headquarters at Tun Razak Exchange (TRX) here.

PETALING JAYA (Sept 5): China Communications Construction Co Ltd (CCCC), the contractor of the suspended East Coast Rail Link, is confident that the project – which was called off last month – will be restarted thanks to bilateral talks between China and Malaysia, reported South China Morning Post.

KUALA LUMPUR (Sept 4): Shares in Vertice Bhd and Vizione Holdings Bhd rose this morning after a joint venture between the two companies won a RM815 million contract from Consortium Zenith Construction Sdn Bhd to undertake construction work for a package in the Penang mega infrastructure project.

KUALA LUMPUR (Sept 4): A joint venture (JV) between Vertice Bhd and Vizione Holdings Bhd has won a RM815 million contract from Consortium Zenith Construction Sdn Bhd to undertake construction work for a package of a Penang mega infrastructure project.