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Upon completion of the acquisition, Sunway pointed out that the acquisition will also entail financial requirements to fund the future development of Sakura Residence.

Gamuda's core net profit could come in between RM230 million and RM250 million for the third quarter ended March 31, 2024 (3QFY2024), the research house said in an earnings preview note.

The RTS, which is currently 65% finished and expected to start running in 2026, will make it much easier for people to travel between the two areas, boosting economic activity.

The construction firm announced that its wholly owned subsidiary, Grand Dynamic Builders Sdn Bhd (GDBSB), had accepted a letter of award for the construction of Plot B of a logistics hub from Strategic Sonata Sdn Bhd.

This strong project portfolio has strengthened IJM Construction's order book to RM7 billion, comprising high-profile private and public sector projects in building construction and civil engineering, ensuring near-term earnings visibility, said IJM.

As the main contractor, GDB has to design, build and maintain the five-storey ramp-up warehouse, complete with offices, amenities, and supporting facilities.

In April, two representatives of the affected areas, K Mukesh Kumar and Lim Hock Ming, filed a judicial review to seek a stay on the proposed development, a certiorari order to quash the MPS decision in January 9 to approve the project, that the MPS' decision is full of illegality, irrationality, procedural impropriety, and unreasonableness, and should be declared void.

The research house said Gamuda’s FY2024 year-to-date win is circa RM9 billion and it expects to secure another estimated RM14 billion by end-CY2024, bringing forward its RM25 billion target for FY2024-2025E by half a year.

The group has 17 ongoing construction projects, with an outstanding order book of approximately RM1.

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