<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 8): Construction counters this morning reacted negatively to news of the government's decision to retender MRT2's underground work, after terminating MMC-Gamuda KVMRT Sdn Bhd as the contractor.</p></div>

<div class=newsTextDataWrapInner><p>But while most have fallen within the region of 1% to 2%, IJM Corp Bhd fell the most, dropping 9.5% or 17 sen to RM1.62, with 5.12 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>Others that retreated included Ahmad Zaki Resources Bhd, which fell 5.13% or two sen to 37 sen, and Econpile Holdings Bhd, which fell 5.92% or 4.5 sen to 71.5 sen.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Sunway Construction Group Bhd declined 10 sen or 5.71% to RM1.65, while Gabungan AQRS Bhd dipped 2.94% or three sen to 99 sen.</p></div>

<div class=newsTextDataWrapInner><p>Yesterday the government said it had terminated the underground work contract of the MRT2, which had initially gone to the joint venture between Gamuda Bhd and MMC Corp Bhd.</p></div>

<div class=newsTextDataWrapInner><p>It said the unfinished work would be retendered via an international open tender exercise.</p></div>

<div class=newsTextDataWrapInner><p>The proprietary day traders (PDT) and intraday short selling (IDSS) activities for Gamuda and MMC were suspended today after their shares dropped more than 15 sen or 15% from reference price.</p></div>

<div class=newsTextDataWrapInner><p>The activities will be enabled at 8.30am on Tuesday (Oct 9). At 12:30pm, Gamuda shares were down 68 sen or 21.18% to settle at RM2.53 while MMC dropped 23 sen or 17.04% to RM1.12.</p></div>


KUALA LUMPUR (Oct 8): Construction counters this morning reacted negatively to news of the government's decision to retender MRT2's underground work, after terminating MMC-Gamuda KVMRT Sdn Bhd as the contractor.

But while most have fallen within the region of 1% to 2%, IJM Corp Bhd fell...

Construction counters dip as govt retenders MRT2 underground work

High crude oil prices caused by tension in the Middle East will help to boost Malaysia's oil and gas exports. However, escalated fuel prices will dampen the country’s economic growth, according to the Socio-Economic Research Centre (SERC).

SERC: Escalated oil price boon and bane for Malaysia

Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.

Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

Notable filings

During the week of April 1 to 5, notable shareholding changes at Bursa Malaysia-listed companies included those at palm oil mill manufacturer Dolphin International Bhd, which saw Datuk Yeo Boon Leong, who is the executive chairman and ...

Insider Moves: Dolphin International Bhd,  M & A Equity Holdings Bhd, SC Estate Builder Bhd, Tenaga Nasional Bhd, Guan Chong Bhd

Topmix Bhd, a surface decorative company listed on Tuesday, expects its expansion in the northern region of Peninsular Malaysia to boost its earnings growth.

The northern region, particularly Penang, has seen an influx of foreign investors, leading to higher income levels and rapid development of housing and commercial projects, which all “bode well for Topmix’s expansion plans", said managing director Teo Quek Siang.

Topmix eyes northern region for expansion amid development boom

The two helicopters which collided and crashed at the Royal Malaysian Navy (RMN) Base were undergoing a rehearsal for the third time in conjunction with RMN Fleet Open Day celebration scheduled on Saturday (April 27).

RMN helicopters involved in third rehearsal before incident — Khaled Nordin

Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.

Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

Bursa Malaysia stayed higher at midday on Tuesday, in line with regional bourses’ upbeat performance. 

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.02 points, or 0.32% to 1,564.61 from Monday's close of 1,559.59.

Bursa stays higher at midday in line with regional peers

AirAsia Consulting is planning further engagement with the International Finance Corporation (IFC), which is mandated to advise the Sri Lanka government on the divestiture of SriLankan Airlines Ltd.

AirAsia Consulting to further engage with IFC on SriLankan Airlines divestiture

Taiwan's quake-hit eastern county of Hualien was rattled by dozens of aftershocks late on Monday and early on Tuesday, but only minor damage was reported and no casualties and major chipmaker TSMC said it saw no impact on operations.

Taiwan rattled by dozens of quakes, but no major damage

Singapore has retained its top 'Maritime City' status, based on five elements — shipping centres, finance and law, technology, ports and logistics, and attractiveness and competitiveness.

Singapore retains top 'Maritime City' status

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 23)

<p>Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.</p>


Two helicopters crash in Lumut, 10 confirmed killed — RMN

<p>Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.</p>


Topmix surges 32% on ACE Market debut

<p>Brazil's government said on Monday that four additional poultry plants have been cleared to sell halal products to Malaysia, a move it hopes will allow exports to the Asian country to double when compared to last year's levels.</p>


Brazil says Malaysia clears four more halal poultry plants for export

<p>Healthcare stocks still have legs to run following the recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.</p>


KPJ near record high, IHH surges as analysts bet on more upside

<p>Investors scaled back safe-haven bets on Monday as worries over a wider Middle East conflict eased, boosting world equities and pressuring gold, oil and bond prices.</p>


Asian shares extend gains ahead of tech earnings, yen fragile

<p>Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.</p>


Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

<p>Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.</p>


<p>Hong Leong Investment Bank (HLIB) has a “trading buy” rating on SDS Group Bhd and said with 33 of its F&amp;B outlets situated across Johor state, and a wholesale segment that is focusing in this region, SDS appears strategically positioned to leverage the burgeoning vibrancy in Johor, propelled further by the continuous influx of visitors from Singapore.</p>


SDS strategically positioned to leverage burgeoning vibrancy in Johor, says HLIB 

<p>Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.</p>


Ex-Umno leader ready to apologise in contempt of court case

<p>Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.</p>


October hearing for Rosmah's appeal in solar project graft trial

<p>Bursa Malaysia opened higher on Tuesday, taking its cue from Wall Street’s better performance overnight, as sentiment improves after Iran said it will not escalate the conflict with Israel, said an analyst.</p>


Bursa up in early trade, tracking Wall Street overnight

<p>Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the US economy's health.</p>


Wall Street stocks end higher with major corporate earnings in view

<p>Rakuten Trade has a “buy” rating on ACE Market-bound surface decorative products company Topmix Bhd at an initial public offering (IPO) price of 31 sen, with a fair value of 40 sen based on financial year 2024 (FY2024) forecast price-earnings (PE) of 15x, in line with industry peers.</p>


Rakuten Trade values Topmix at 40 sen, expects FY2023-FY2026 earnings to grow at CAGR of 25%

<p>South Korea is emerging as a closely watched weak link in the US$63 trillion (RM298.95 billion) world of shadow banking.</p>


Shadow banking stress in South Korea sends warning to global investors

<p>In Part 1, I outlined three possible scenarios for voter turnout and support for the DAP/PH/unity government candidate in the upcoming by-election in Kuala Kubu Baharu (KKB), out of which there is only one scenario where the incumbent manages to defend the seat. In this concluding part of this article, I will outline some of the likely and desired parameters of contestation during the campaign.</p>


Kuala Kubu Baharu by-election: The challenges for DAP, PH, unity government — Part 2

<p>Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.</p>


China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

<p>Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.</p>


Malton unveils River Park's final tower

<p>US borrowers on lower incomes are increasingly struggling to keep up with their loan payments, according to recent data and bank executives, prompting banks to become more cautious about dishing out credit cards and car loans.</p>


US consumers on lower incomes face loan stress while banks pull back

<p>RHB Retail Research said Cloudpoint Technology Bhd is eyeing an uptrend movement after rebounding from the immediate support, testing the 64 sen immediate resistance level.</p>
