<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 29): Lingkaran Trans Kota Holdings Bhd (Litrak) saw its net profit climb 50.11% to RM56.92 million in the first quarter ended June 30, 2022 (1QFY23) from RM37.92 million a year earlier, on the back of higher revenue and lower finance cost.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share rose to 10.58 sen from 7.12 sen, according to the group’s bourse filing.</p></div>

<div class=newsTextDataWrapInner><p>Revenue grew 43.17% to RM124.63 million from RM87.05 million in 1QFY22 on higher tollable traffic volume amid the country’s transitioning to Covid-19 endemicity.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Looking ahead, Litrak said tollable traffic will return to pre-pandemic levels with the further normalisation of traffic and normalizing of current conditions to the endemic phase.</p></div>

<div class=newsTextDataWrapInner><p>On its highway disposal, Litrak said the group may not have a core business other than being an investment holding company&nbsp; (unless a new business is acquired before targeted completion date) and accordingly may become a cash company.</p></div>

<div class=newsTextDataWrapInner><p>In such circumstances, Litrak has 12 months from the date it receives the notice from Bursa Malaysia to regularise its condition. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Litrak shares closed unchanged at RM4.87 on Monday, giving the group a market value of RM2.63 billion.</p></div>


Lingkaran Trans Kota Holdings Bhd (Litrak) saw its net profit climb 50.11% to RM56.92 million in the first quarter ended June 30, 2022 (1QFY23) from RM37.92 million a year earlier, on the back of higher revenue and lower finance cost.

Earnings per share rose to 10.58 sen from 7.12 sen, according to the group’s bourse filing.

Litrak’s 1Q net profit up 50% on higher revenue, lower finance cost

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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).

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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).

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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.

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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.

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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.

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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.

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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.

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<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>


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<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>


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<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>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>


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<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>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>


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<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>


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<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>


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<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>


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<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>


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


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<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>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>


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<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>


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<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>


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<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>
