<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on April 23, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Gadang Holdings Bhd clarified yesterday that it has not submitted any official tender for the East Coast Rail Link (ECRL) project.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, Gadang reiterated that its wholly-owned subsidiary Gadang Engineering (M) Sdn Bhd had on April 18 entered into a pre-bid consortium agreement with DWL Resources Bhd’s wholly-owned subsidiary Million Rich Development Sdn Bhd, to jointly to bid for infrastructure projects.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>If successful, the consortium will jointly undertake a contract for such infrastructure works.</p></div>

<div class=newsTextDataWrapInner><p>“The company will make the appropriate announcement to Bursa Malaysia in a timely manner in accordance with the Main Market Listing Requirements of the bourse, as and when necessary,” it added.</p></div>

<div class=newsTextDataWrapInner><p>The company was responding to an article in The Edge Financial Daily on Sunday that the two consortium partners, Gadang and DWL Resources, have submitted a bid for jobs in the newly revived ECRL. The contract value was said to be worth billions.</p></div>

<div class=newsTextDataWrapInner><p>Gadang shares jumped 23 sen or 32.17% to close at 94.5 sen yesterday, raising its market capitalisation to RM625.33 million, while DWL Resources surged 37 sen or 28.24% to settle at RM1.68, valuing it at RM333.73 million.</p></div>


KUALA LUMPUR: Gadang Holdings Bhd clarified yesterday that it has not submitted any official tender for the East Coast Rail Link (ECRL) project.

In a filing with Bursa Malaysia yesterday, Gadang reiterated that its wholly-owned subsidiary Gadang Engineering (M) Sdn Bhd had on April 18 e...

Gadang says it has yet to submit any official bid for ECRL jobs

The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.

IMF urges Bank of Japan to tread cautiously in raising interest rates

Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.

Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.

Israel's Iran attack carefully calibrated after internal splits, US pressure

The Nasdaq and the S&P 500 dipped on Friday, with Netflix among the biggest drags on a dour quarterly forecast, while all three indexes stared at weekly losses amid diminishing hopes that the Federal Reserve would cut interest rates anytime soon.

Nasdaq lags peers as Netflix, chip stocks drag; AmEx lifts Dow

Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.

Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.

Anwar arrives in Kota Kinabalu for one-day visit

Parties in the Unity Government have their methods to ensure a win in the Kuala Kubu Baharu by-election next month, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Ahmad Zahid, who is also Barisan Nasional (BN) chairman, said this was discussed at the Unity Government secretariat meeting on Wednesday.

Unity Govt parties have ways to ensure victory in Kuala Kubu Baharu polls — Ahmad Zahid

All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.

Travellers to and from Singapore carrying over S$20,000 must submit online declaration from May 13

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Sapura Energy, PIE Industrial, LSH Capital, YX, Westports, Yinson, Sime Darby Property, MISC, Meta Bright, EG Industries, Hextar, Uzma, Nova MSC and Iconic Worldwide

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

YX Precious Metals proposes to transfer listing from ACE Market to Main Market

(April 19): Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.

Softbank-backed Oyo eyes US$450 mil bond sale for refinancing

CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses.  

The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.

CIMB Thai's 1Q earnings drop 24.6% as operating income falls while opex climbs

<p>DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an&nbsp;Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.</p>


Tehran signals no retaliation against Israel after drones attack Iran

<p>KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:</p>

<p>Shares of <strong>Sapura Energy Bhd</strong> have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

<p>KUALA LUMPUR (April 19): Construction company Lim Seong Hai Capital Bhd (LSH Capital) said it has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd.</p>


Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market

<p>KUALA LUMPUR (April 19): M&amp;A Equity Holdings Bhd announced that an individual by the name of Siti Nur Aishah Ishak has become a substantial shareholder of the stockbroking firm, after acquiring a 0.13% stake in the company.</p>


Siti Nur Aishah emerges as substantial shareholder of M&A Equity

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

<p>SINGAPORE (April 19): CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), as the integrated financial services provider launched its new identity in Singapore on Thursday (April 18).&nbsp;</p>


CGS-CIMB Securities rebrands as CGS International, aims to double revenue to S$700 mil by 2030

<p>KUALA LUMPUR (April 19): Fajarbaru Builder Group Bhd said it has secured a RM13.33 million contract to upgrade fire engineering systems at the Kuala Lumpur International Airport’s Terminal 1 satellite building.</p>


Fajarbaru clinches RM13 mil contract from MAHB

<p>KUALA LUMPUR (April 19): Silver Ridge Holdings Bhd said its wholly owned unit is being sued by a subcontractor over alleged outstanding contract payments.</p>


Silver Ridge’s unit slapped with suit over alleged unpaid contract sums

<p>YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.</p>

<p>In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.</p>


<p>The mandatory general offer (MGO) for the remaining 34.1% stake in Pan Malaysia Holdings Bhd (PM Holdings), launched by property developer Exsim Group's founders, the Lim brothers, concluded on Friday with acceptances for only 35,997 shares received.</p>


No change in Lim brothers' stake as Pan Malaysia Holdings' MGO concludes

<p>KUALA LUMPUR (April 19): Iconic Worldwide Bhd has raised a total of RM95.6 million through its rights issue exercise with free warrants, which was oversubscribed.</p>


Iconic Worldwide’s rights issue oversubscribed, raises RM95.6 mil

<p>Prime Minister Datuk Seri Anwar Ibrahim said on Friday he does not want to be dragged into discussions over the purported addendum order on house arrest involving former premier Datuk Seri Najib Tun Razak.</p>

<p>Anwar said this was because the matter falls under the jurisdiction of the Federal Territories Pardons Board and also involves the Yang di-Pertuan Agong and the Malay Rulers.</p>


Addendum order issue under Pardons Board's purview, says Anwar

<p>Malaysia’s economic growth will likely pick up pace in the quarters ahead, economists say, though some are cautioning that global uncertainties raise the risk of undershooting the official target for 2024.</p>

<p>This follows the Department of Statistics Malaysia's advanced gross domestic product (GDP) estimate of 3.9% for the first quarter of 2024 (1Q2024).</p>


Malaysia's economy will pick up pace but global uncertainties remain key risks — economists

<p>SINGAPORE (April 19): Wilmar International Ltd’s board of directors has appointed former foreign minister George Yeo as a non-executive and independent director with effect from Friday.</p>


Wilmar appoints former Singapore foreign minister George Yeo as non-executive and independent director

<p>KUALA LUMPUR (April 19): Ten individuals suspected of being involved in the case related to an&nbsp;Israeli man who was charged with possessing bullets and trafficking&nbsp;guns, were rearrested under the Security Offences (Special Measures) Act 2012 (Sosma).</p>


Israeli man’s case: 10 individuals rearrested under Sosma

<p>Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.</p>

<p>Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.</p>


<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday due to persistent weakness in the soybean oil market on the Chicago Board of Trade, said a dealer.</p>

<p>Palm oil trader David Ng noted that market sentiment has been influenced by concerns regarding the anticipated surge in output over the coming weeks, which is perceived as exerting pressure on the market</p>


CPO futures end lower due to weaker soybean futures

<p>KUALA LUMPUR (April 19): Proposals for improvement, including efforts to increase the net income rate of civil servants, will be announced by Prime Minister Datuk Seri Anwar Ibrahim at the Labour Day rally to be held later.</p>

<p>Anwar, in his Facebook post, said the Meeting No 3/2024 of the ...

Proposal to improve salary of civil servants to be announced at Labour Day gathering — PM

<p>All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.</p>


<p>Fitters Diversified Bhd has landed a subcontract worth RM26.1 million from a unit of IJM Corp Bhd for fire protection services at the compound of a four-storey logistics hub, including its parking and ancillary buildings, in Shah Alam, Selangor.</p>
