<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 12): Building and infrastructure construction services provider Nestcon Bhd has bagged two subcontracts worth a combined RM90.4 million for the construction and completion of subgrade works under the East Coast Rail Link project in Kota Bahru, Kelantan.</p></div>

<div class=newsTextDataWrapInner><p>The jobs, involving Package S1-1, Section 1 (Project S1-1) and Project S1-2, were awarded to its wholly-owned Nestcon Infra Sdn Bhd by China Communications Construction (ECRL) Sdn Bhd, Nestcon’s filing with Bursa Malaysia showed.</p></div>

<div class=newsTextDataWrapInner><p>The respective subcontract sums for the two work portions are RM44.98 million and RM45.42 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The subcontract works shall start from Feb 7, 2022, with Project S1-1 to be completed by Sept 30, 2024, while Project S1-2 is to be completed by May 31, 2024.</p></div>

<div class=newsTextDataWrapInner><p>Nestcon said the acceptance of the letters of award to undertake the new jobs are expected to contribute positively to the group’s net assets per share, earnings per share and gearing for the financial year ending Dec 31, 2022, and throughout the duration of the subcontract works.</p></div>

<div class=newsTextDataWrapInner><p>Nestcon's share price closed one sen or 2.22% higher at 46 sen, giving the group a market capitalisation of RM296 million.</p></div>


Building and infrastructure construction services provider Nestcon Bhd has bagged two subcontracts worth a combined RM90.4 million for the construction and completion of subgrade works under the East Coast Rail Link project in Kota Bahru, Kelantan.

Nestcon bags RM90.4m ECRL subcontracts

Russia and Ukraine exchanged fire on energy facilities overnight, with an oil refinery damaged in Russia’s Krasnodar region, while Ukraine sustained a missile barrage on gas infrastructure and other targets.

Russia, Ukraine exchange strikes on refinery and gas targets

Deutsche Bank AG is putting aside as much as €1.3 billion (US$1.4 billion or RM6.6 billion) in legal provisions, warning this will hit profits.

The bank will book the potential payment in the current quarter, it said in a statement late on Friday. That will impact “second quarter and full-year profitability”, it said, while adding that the ultimate amount of the provisions is not clear yet.

Deutsche Bank earmarks US$1.4b provision in hit to profit

Genting Malaysia Bhd has dismissed reports linking the group and its deputy chairman and chief executive Tan Sri Lim Kok Thai to supposed discussions relating to the opening of a second casino for Malaysia in Forest City, Johor, to revive the US$100 billion (RM477.60 billion) development.

Genting Malaysia denies involvement in talks for Forest City casino

The Territorial Sea Act 2012 (Act 750) remains valid and applicable throughout Malaysia, including in Terengganu, unless declared otherwise by the court, says the Prime Minister’s Office, despite the Terengganu State Legislative Assembly's decision to reject its use.

Territorial Sea Act 2012 still valid, including in Terengganu, says PMO

The Malaysian government is serious about resolving issues surrounding the palm oil industry in the country, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

Govt serious about resolving palm oil industry issues, says Johari Ghani

Three new semiconductor companies are keen to invest in Penang with total investments of US$100 million (RM477 million), said Chief Minister Chow Kon Yeow.

Three semiconductor firms keen to invest US$100m in Penang

Tan Sri Mokhzani Mahathir and his brother Mirzan Mahathir, who have been asked to declare their assets by the Malaysian Anti-Corruption Commission (MACC), have both denied being investigated by the agency.

Mahathir's sons, Mirzan and Mokhzani, deny being under MACC probe

Defence Minister Datuk Seri Mohamed Khaled Nordin said the government had no plans to temporarily suspend the service of Fennec and HOM helicopters.

Govt not suspending service of Fennec and HOM helicopters, says minister

It will be a four-way fight in the upcoming Kuala Kubu Bahru by-election between Pakatan Harapan’s pick Pang Sock Tao, Hulu Selangor Bersatu action division head Khairul Azhari, Parti Rakyat Malaysia’s Hafizah Zainudin and independent Nyau Ke Xin.

NEWS: Four-cornered fight in KKB by-election

Parti Rakyar Malaysia’s Hafizah Zainudin says that if elected, PRM will stand on a platform of increased transparency in government.

NEWS: Parti Rakyat Malaysia will run on more transparency

<p>Kuala Lumpur Kepong Bhd (KLK) is investigating allegations of unethical recruitment practices made against the sub-agents of SOS Manpower Service, its appointed agent to recruit Nepalese foreign workers for its subsidiary&nbsp;KL-Kepong Rubber Products Sdn Bhd.</p>

<p>The allegations, according to KLK, were made by <em>Sajha Sabal Media</em>, a news portal in Nepal.</p>


KLK investigating allegations of unethical practice linked to its foreign worker recruitment agent

<p>The Kuala Kubu Baharu (KKB) state by-election will see a four-cornered fight between the candidates of Pakatan Harapan (PH), Perikatan Nasional (PN), Parti Rakyat Malaysia (PRM), and an independent.</p>


A four-way bout in Kuala Kubu Baharu by-election

<p>Three new semiconductor companies are keen to invest in Penang with&nbsp;total investments of US$100 million (RM477&nbsp;million), said Chief Minister Chow Kon Yeow.</p>


<p>Former prime minister Datuk Seri Najib Razak was never confronted by the Malaysian Anti-Corruption Commission (MACC) on whether Blackstone Asia Real Estate Partners — which received millions from 1Malaysia Development Bhd (1MDB) and transferred it to his private banking account — was controlled or owned by fugitive Eric Tan Kim Loong, an alleged associate of Low Taek Jho or Jho Low.</p>


Court told MACC never asked Najib if he knew who owned shell company that transferred US$30 mil to his account

<p>Bank of Singapore Ltd, the private-banking arm of Oversea-Chinese Banking Corp (OCBC), has fired up to 40 employees over the misuse of medical benefits, according to a <em>CNA </em>report.</p>


Singapore bank fires workers over misuse of medical claims — CNA

<p>The Malaysian Palm Oil Association (MPOA) said&nbsp;there is an urgent need to accelerate replanting to address the issue of ageing oil palm trees, and urges the government to provide replanting tax incentives to support such efforts.</p>


Ageing oil palm trees: MPOA calls for govt incentives to speed up replanting

<p>Genting Malaysia Bhd has dismissed reports linking the group and its deputy chairman and chief executive Tan Sri Lim Kok Thai to supposed discussions relating to the opening of a second casino for Malaysia in Forest City, Johor, to revive the US$100 billion (RM477.60 billion) development.</p>


<p>Tan Sri Mokhzani Mahathir and his brother Mirzan Mahathir, who have been asked to declare their assets by the Malaysian Anti-Corruption Commission (MACC), have both denied being investigated by the agency.</p>


<p>The Territorial Sea Act 2012 (Act 750) remains valid and applicable throughout Malaysia, including in Terengganu, unless declared otherwise by the court, says the Prime Minister’s Office,&nbsp;despite the Terengganu State Legislative Assembly's decision to reject its use.</p>


<p>Singapore will introduce a new law this year that will help so-called gig-economy workers plan for their retirement needs and get work injury protection, Minister for Manpower Tan See Leng said.</p>


Singapore plans law to support gig workers’ retirement needs

<p>The Kuala Kubu Baharu (KKB) state by-election&nbsp;is the time for Barisan Nasional (BN) to return Pakatan Harapan’s (PH) favour in assisting Umno candidates in the previous elections, said&nbsp;Datuk Seri Dr Ahmad Zahid Hamidi.</p>


Time for BN to return PH's favour in Kuala Kubu Baharu by-election, says Zahid

<p>The Malaysian government is serious about resolving issues surrounding the palm oil industry in the country, said Plantation&nbsp;and Commodities Minister Datuk Seri&nbsp;Johari&nbsp;Abdul&nbsp;Ghani.</p>


<p>China's industrial profits posted smaller gains for the first quarter compared to the first two months, official data showed on Saturday, adding to evidence of an uneven recovery for the world's second-biggest economy.</p>


China's first-quarter industrial profits rise at slower pace

<p>Deutsche Bank AG is putting aside as much as €1.3 billion (US$1.4 billion or RM6.6 billion) in legal provisions, warning this will hit profits.</p>

<p>The bank will book the potential payment in the current quarter, it said in a statement late on Friday. That will impact “second quarter and full-year profitability”, it said, while adding that the ultimate amount of the provisions is not clear yet.</p>


<p>Russia and Ukraine exchanged fire on energy facilities overnight, with an oil refinery damaged in Russia’s Krasnodar region, while Ukraine sustained a missile barrage on gas infrastructure and other targets.</p>


<p>Defence Minister Datuk Seri Mohamed Khaled Nordin said the government had no plans to temporarily suspend the service of&nbsp;Fennec and HOM helicopters.</p>


<p>The Malaysian Anti-Corruption Commission (MACC) has opened an&nbsp;operations room for&nbsp;the public to channel information and complaints of corrupt acts and power abuse in the Kuala Kubu Baharu&nbsp;state by-election.</p>


MACC opens operations room for Kuala Kubu Baharu by-election

<p>Last December, the European Union set a global precedent by finalizing the Artificial Intelligence Act, one of the world’s most comprehensive sets of AI rules. Europe’s landmark legislation could signal a broader trend toward more responsive AI policies. But while regulation is necessary, it is i...