<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 11, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Ikhmas Jaya Group Bhd announced yesterday it had secured two subcontract jobs for the Setiawangsa–Pantai Expressway (SPE or DUKE Phase 3) with a combined value of RM75.3 million from Knusford Construction Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>This brings the group’s year-to-date contract wins to RM470 million, Ikhmas Jaya said in a stock exchange announcement.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group’s wholly-owned Ikhmas Jaya Sdn Bhd had accepted the letter of award for the two job wins, involving constructing bridge structures for different parts of the SPE.</p></div>

<div class=newsTextDataWrapInner><p>The first contract, valued at RM23.5 million, will take 37 weeks to complete, while the second, worth RM51.8 million, is for 15 months.</p></div>

<div class=newsTextDataWrapInner><p>The group expects the two projects to contribute positively to its earnings and net assets for the financial years ending Dec 31, 2019, and Dec 31, 2020.</p></div>

<div class=newsTextDataWrapInner><p>Ikhmas Jaya shares closed 1.5 sen or 8.57% higher at 19 sen yesterday, with a market capitalisation of RM103.62 million.</p></div>


KUALA LUMPUR: Ikhmas Jaya Group Bhd announced yesterday it had secured two subcontract jobs for the Setiawangsa–Pantai Expressway (SPE or DUKE Phase 3) with a combined value of RM75.3 million from Knusford Construction Sdn Bhd.

This brings the group’s year-to-date contract wins to RM470...

Ikhmas Jaya bags two subcontract jobs worth RM75.3m

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JAKARTA (April 26): Indonesia needs to anticipate any impact on the domestic economy of the recent escalation in geopolitical tensions in the Middle East and delays in US monetary easing, which will also affect the government's budget, its finance minister said on Friday.

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APS Asset Management Pte founder Kok-Hoi Wong is preparing to step down as chief investment officer (CIO) of the Singapore-based hedge fund in the coming year.

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The Malaysian Anti-Corruption Commission (MACC) has given businessmen Mirzan Mahathir and Tan Sri Mokhzani Mahathir a 30-day extension from Friday to declare their assets to the anti-graft body.

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BENGALURU/KOTTAYAM, India (April 26): India began voting on Friday in the second phase of the world's biggest election, as Prime Minister Narendra Modi and his rivals raise the pitch of the campaign by focusing on hot-button issues such as religious discrimination, affirmative action and taxes.

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D&O Green Technologies Bhd, which mainly makes automotive light-emitting diodes (LEDs), is optimistic of at least 10% revenue growth this year and plans to build another facility in anticipation of “significant growth” over the next decade.

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CVC Capital Partners and its investors raised €2 billion (RM10.2 billion) in an initial public offering (IPO), bringing the long-delayed listing process for one of Europe’s marquee private equity firms to a resolution.

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The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan (BOJ) meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected US growth data.

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BENGALURU (April 26): Most Asian currencies were subdued on Friday, as mixed US data solidified bets of fewer rate cuts, while regional stocks were on track to end the week higher due to gains in South Korea and Taiwan from global tech earnings.

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<p>Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.</p>


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<p>The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.</p>


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<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


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<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>


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<p>Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.</p>


<p>Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.</p>


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<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>


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<p>Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.</p>


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<p>RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.</p>


VS Industry poised to continue bullish trajectory, says RHB Retail Research 

<p><em><strong>More to come</strong></em></p>
...

Govt to announce second 5G network next week, coverage now at 80.3%, says Fahmi

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<p>The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.</p>


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<p>The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.</p>


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<p>European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.</p>


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<p>Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.</p>


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<p>Anyone called in by the Malaysian Anti-Corruption Commission (MACC), either as a witness or subject of investigation, is given ample opportunity to provide additional, detailed information as they please, and this includes imprisoned former prime minister Datuk Seri Najib Razak.</p>
