Sarawak Economic Development Corp no longer a substantial shareholder in Cahya Mata Sarawak
The share disposal comes as CMSB grapples with weaker financial performance.
The share disposal comes as CMSB grapples with weaker financial performance.
The issues were caused by both technical problems such as signalling faults as well as human-related errors, including passengers attempting to open train doors, Deputy Transport Minister Datuk Hasbi Habibolla told the Dewan Rakyat during the oral question-and-answer session on Monday.
“MBAM commends the government’s proactive measures in Budget 2026, which prioritises key infrastructure projects and underscores the critical role of the construction sector in driving Malaysia’s socio-economic development, particularly in transportation and housing.
As a result, the project went ahead under the Land Acquisition Act 1970, with 67% of landowners agreeing and the remaining 33% facing compulsory acquisition.
Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa said residents themselves agreed to redevelop the area, selected the developer, and signed a deal without government interference.
In its initial phase, the IEIP project covers 17 selected industrial parks across different business models, development stages and stakeholders.
The funds may also be used to finance projects, investments and asset acquisitions, as well as cover related fees and expenses, according to its filing with Bursa Malaysia on Wednesday.
Advancecon said its wholly-owned subsidiary, Advancecon Infra Sdn Bhd, was awarded RM7 million following proceedings administered by the Asian International Arbitration Centre.
The shares will be issued at 41.