<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on May 25, 2017</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Jaks Resources Bhd’s net profit for the first quarter ended March 31, 2017 (1QFY17) surged 600% to RM7.5 million from RM1.07 million a year earlier, driven mainly by its construction division, especially its Vietnam engineering, procurement and construction (EPC) project.</p></div>

<div class=newsTextDataWrapInner><p>Revenue climbed 26% to RM154.79 million from RM122.81 million a year earlier, its Bursa Malaysia filing showed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On prospects, Jaks chief executive officer Andy Ang Lam Poah said the company is optimistic it would perform satisfactorily, backed by its strong outstanding construction order book.</p></div>

<div class=newsTextDataWrapInner><p>“The US$454.5 million (approximately RM1.95 billion) EPC Contract 2 for the Vietnam IPP has progressed according to schedule and we anticipate the construction work for the Vietnam IPP to contribute significantly to the group’s earnings for next few years.</p></div>

<div class=newsTextDataWrapInner><p>“We will continue to pursue various road, water, power and sewerage infrastructure tenders domestically and in Vietnam to grow our construction order book.”</p></div>

<div class=newsTextDataWrapInner><p>Jaks’ construction order book currently stands at RM2.6 billion, while its property development division has unbilled sales of RM197.6 million as at March 31.</p></div>


KUALA LUMPUR: Jaks Resources Bhd’s net profit for the first quarter ended March 31, 2017 (1QFY17) surged 600% to RM7.5 million from RM1.07 million a year earlier, driven mainly by its construction division, especially its Vietnam engineering, procurement and construction (EPC) project.

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Jaks Resources 1Q profit surges 600% on Vietnam job

TOKYO (April 19): Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.

However, the scope of the market moves...

Stocks sink, oil jumps after Israeli attack on Iran

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

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Israel has attacked Iran, three people familiar with the matter said, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.

Israel attacks Iran, Reuters reports, as drones spotted over Isfahan 

Israel was downgraded by S&P Global Ratings, which joined Moody’s Ratings in lowering the nation’s sovereign credit score as geopolitical risks in the Middle East escalated.

S&P joins Moody’s in downgrading Israel on geopolitical risk

SEOUL (April 19): North Korea has released a new song praising leader Kim Jong Un for being a "friendly father" and a "great leader", in a move that appears to be part of a propaganda drive to enhance his standing in the reclusive state.

The music video for the song was aired on the sta...

North Korea releases song praising leader Kim as 'friendly father'

Standard Chartered Plc is offering short-term deposit rates of as high as 10% as the lender seeks to attract Chinese customers.

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China’s Zhejiang Geely Holding Group is selling the entirety of its Class B shares in truckmaker Volvo AB that were worth about 14.46 billion Swedish krona (RM6.2 billion).

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Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

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Malaysia's economy grew by 3.9% in the first quarter of 2024 1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

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<p>Israel has attacked Iran, three people familiar with the matter said, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.</p>


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<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


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<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


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<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports of a sharp escalation in Middle East hostilities.</p>


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<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


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<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


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<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


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<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


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<p>Hong Leong Investment Bank (HLIB) expects Bursa Malaysia Bhd’s earnings for the first quarter to rise 34% year-on-year to RM75 million, amid the expectation of higher securities average daily value (ADV) and derivatives average daily contract (ADC).</p>


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<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


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<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


<p>Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.</p>


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<p>RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line.</p>


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<p>Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.</p>


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<p>Rakuten Trade said United U-Li Corporation Bhd may trend higher after breaking out from its two-week bullish flag pattern with a long white candle on Thursday.</p>


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<p>Hong Leong Investment Bank (HLIB) said Kimlun Corp Bhd’s earnings is primed for promising prospects in FY2024-25, underpinned by an unbilled orderbook of RM2.48 billion (3.0x cover on FY2023 revenue and the highest achieved since FY2018), with 85% dedicated to construction and the remaining to precast manufacturing.</p>


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<p>US stocks closed near the unchanged mark on Thursday, as investors sifted through the latest corporate earnings, while economic data and comments from Federal Reserve officials suggested the central bank was unlikely to cut interest rates in the near future.</p>
