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  • Manufacturing sector posts RM65.5b sales in April 2018

    June 11, 2018 4:01 AM 4

    PETALING JAYA: Malaysia’s April manufacturing sales recorded a growth of 8.2% to RM65.5 billion compared with RM60.5 billion reported a year ago, according to the Statistics Department. The significant increase in sales value in April was due to the increase in electrical and electronics products (13.9%), petroleum, chemical, rubber and plastic products

  • Malaysia Rail Link: ECRL deal has no clause for Jho Low-linked companies

    June 10, 2018 12:51 PM 6

    PETALING JAYA: Malaysia Rail Link Sdn Bhd, the project and asset owner of the East Coast Rail Link (ECRL), has denied that contracts it signed with Chinese contractor China Communications Construction Co Ltd (CCCC) and the Export-Import Bank of China came with a clause to nominate an unrelated company to buy 70% of Putrajaya Perdana Bhd for US$244 million

  • Bursa Malaysia's downtrend likely to continue next week

    June 9, 2018 3:14 AM 9

    KUALA LUMPUR: Bursa Malaysia will likely continue its downtrend next week on gloomy investor sentiment, as well as profit-taking ahead of the Hari Raya holiday, said analysts. An analyst told Bernama that the macro factors expected to affect the FTSE Bursa Malaysia KLCI next week, includes the Group of Seven(G7) meeting as investors search for clues

  • UOA REIT sells Wisma UOA Pantai to CIMB Bank for RM120m

    June 8, 2018 11:25 AM 6

    PETALING JAYA: UOA Real Estate Investment Trust (UOA REIT) is disposing of Wisma UOA Pantai to CIMB Bank Bhd for RM120 million. UOA REIT said the net capital gain arising from the disposal is estimated to be RM541,000 after taking into account all related expenses, according to its filing with Bursa Malaysia. The disposal proceeds will be utilised to reduce

  • M-Mode bags RM260.57m construction contract

    June 8, 2018 10:52 AM 7

    PETALING JAYA: M-Mode Bhd's wholly owned subsidiary E&J Builders Sdn Bhd (E&J) has been appointed as a contractor to undertake construction work for the proposed 25-storey mixed commercial development project in Kota Kinabalu with a contract sum of RM260.57 million. The group said in a bourse filing that it had accepted a letter of award from Titijaya

  • Nova MSC bags RM15.4m job from Singapore's Public Utilities Board

    June 8, 2018 10:15 AM 10

    PETALING JAYA: Nova MSC Bhd's wholly owned subsidiary NovaCityNets Pte Ltd (NCN) has secured a S$5.17 million (RM15.4 million) from the Public Utilities Board in Singapore. Under the contract, NCN will supply, deliver and implement a Building Information Modelling (BIM) checking systems for building plan submission over about 20 months and thereafter

  • Lisa Lim Poh Lin appointed as independent non-executive director of Axiata

    June 8, 2018 9:12 AM 6

    PETALING JAYA: Axiata Group Bhd has appointed Dr Lisa Lim Poh Lin as its independent non-executive director to further strengthen the board's diversity mix and expertise. "We constantly strive to build a board composition of relevant business expertise, global experience and diversity of backgrounds. As an accomplished Malaysian scholar with high-profile

  • CCM gets US$20m financing facility

    June 7, 2018 1:31 PM 6

    PETALING JAYA: CCM Duopharma Biotech Bhd has secured US$20 million (RM79.4 million) financing from Oversea-Chinese Banking Corporation (Labuan Branch). It told Bursa Malaysia that the revolving credit-i Murabahah will be used to fund the RM59.16 million acquisition of an 8.39% stake in PanGen Biotech Inc from Chemical Company of Malaysia Bhd. “Apart

  • Straits Inter Logistics to acquire 55% of peer for RM35.75m

    June 7, 2018 1:02 PM 5

    PETALING JAYA: Straits Inter Logistics Bhd plans to acquire a 55% stake in oil bunkering services company Tumpuan Megah Development Sdn Bhd for RM35.75 million to expand its business. In a filing with Bursa Malaysia today, Straits Inter said it had entered into a conditional share sale agreement with the vendor, Raja Ismail Raja Mohamed. Straits Inter

  • Tune Protect invests in UK’s Laka

    June 7, 2018 12:08 PM 6

    PETALING JAYA: Tune Protect Group Bhd’s wholly owned subsidiary Tune Direct Ltd (TDL) has bought a 9.99% equity interest in UK’s insurtech Laka Ltd for £499,478.07 (RM2.64 million). TDL today executed a subscription and shareholders agreement for the deal. The investment is part of a seed round funding by Laka, whereby TDL is the lead investor