KUALA LUMPUR (Sept 29): TA Securities Research has maintained its “buy” rating on Gamuda Bhd at RM4.31 with a higher target price of RM5.19 (from RM5.03) based on sum of parts valuation. The research house also increased its earnings forecasts for Gamuda by 22.4% for the financial year 2024 (FY2024) and by 15.6% for FY2025….
Read MoreKUALA LUMPUR (Sept 29): UEM Sunrise Bhd, through its joint-venture subsidiary Mega Legacy (M) Sdn Bhd (MLMSB), and Melati Ehsan Group signed a Memorandum of Understanding (MOU) with Universiti Malaya’s (UM) Faculty of Science on Tuesday to assess the water quality and heavy metal content of the Kepong Metropolitan Park’s 140.85-acre lake. The park is…
Read MoreKUALA LUMPUR (Sept 29): The Works Ministry (KKR) has requested an increase in allocations in Budget 2024, to focus on the maintenance and periodic works of highways and roads nationwide. Its Minister Datuk Seri Alexander Nanta Linggi said this is important to ensure the quality of highways and roads nationwide is at its best level…
Read MoreKUALA LUMPUR (Sept 29): Phase 1 of Sime Darby Property Bhd’s suasana Ainsdale achieved a 72% take-up since its official launch on Sept 23. According to a statement issued on Friday (Sept 29), 36 out of 50 units were taken-up. With a gross development value of approximately RM30.2 million, Sime Darby Property chief marketing and…
Read MoreKUALA LUMPUR (Sept 29): Knusford Bhd’s share price shot up by 18 sen or 25.17% to 89.5 sen in Friday morning trade, its highest since April 21, 2021, after its major shareholder Tan Sri Lim Kang Hoo proposed to combine his stable of companies under an enlarged Ekovest Bhd. At the time of writing, shares…
Read MoreKUALA LUMPUR (Sept 29): Gamuda Bhd rose as much as 25 sen or 5.8% to RM4.56 in Friday morning trade, hitting a record high after the construction giant’s FY2023 net profit more than doubled to RM1.84 billion from RM806.23 million a year earlier, largely fuelled by gains on the divestment of its highways. As at…
Read MoreKUALA LUMPUR (Sept 29): The Real Estate and Housing Developers’ Association (REHDA) Malaysia is hoping that Putrajaya will “reintroduce or introduce” incentives that “will allow more Malaysians to buy a house to call their own”. In a media release stating the association’s wish list for Budget 2024, it stated that “housing affordability remains a major…
Read MoreKUALA LUMPUR (Sept 29): Prasarana president and group chief executive officer Mohd Azharuddin Mat Sah is of the view that Kuala Lumpur’s transportation ecosystem must be optimised to create a more resilient public transport system. Presenting the paper “Creating Resilient Public Transport System for Kuala Lumpur: The Strategies and Implementations” at the at the 14th…
Read MoreKUALA LUMPUR (Sept 27): Glomac Bhd’s net profit dropped 21.5% for the first quarter ended July 31, 2023 (1QFY2024) on lower contribution from its property development business after the completion of several projects, coupled with a dearth of new launches. Net profit dropped to RM4.06 million or 0.53 sen per share for 1QFY2024 from RM5.18…
Read MoreKUALA LUMPUR (Sept 27): The Ampang/Sri Petaling Light Rail Transit (LRT) line is expected to resume operation on Feb 29 next year, after the comprehensive repair work on the flyover and track structure near the Bandaraya LRT station is completed. Rapid Rail Sdn Bhd (Rapid Rail), in a statement on Wednesday, said the original plan…
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