News by Choy Nyen Yiau

Gadang Holdings Bhd’s (KL:GADANG) net loss narrowed to RM9.37 million for its fourth quarter ended May 31, 2024 (4QFY2024) from RM27.7 million a year ago, as revenue expanded due to higher contributions from its construction division.

The Kuala Lumpur International Airport (KLIA) aerotrain is expected to resume operations by the first quarter of 2025, according to Transport Minister Anthony Loke.

Construction and power utilities group JAKS Resources Bhd (KL:JAKS) has partnered with Shanghai-based China Power Engineering Consulting Group International Engineering Co Ltd (CPECC INT'L) to bid for the development of solar photovoltaic (PV) plants with a maximum aggregate capacity of 500 megawatt of alternating current (MWac), under the Energy Commission’s fifth Large Scale Solar (LSS5) programme.

Development of the Johor-Singapore Special Economic Zone's (JS-SEZ) infrastructure will be co-financed by the government and the private sector, Economy Minister Rafizi Ramli said.

The Mass Rapid Transit Line 1 (MRT1) and MRT2 have failed to meet their targets for daily ridership. They also failed to meet the targeted numbers of trains in operation, and peak-hour frequency, according to the 2024 Auditor General's Report.

The River of Life programme, which aims to rehabilitate and beautify the Klang and Gombak rivers, is behind schedule and will not be completed this year, according to the auditor general.

The feasibility study for the high-speed rail network connecting Sabah, Sarawak, Brunei, and Kalimantan, Indonesia, dubbed the Trans Borneo Railway project, is expected to begin next month, says Transport Minister Anthony Loke.

The main contractor of the East Coast Rail Link (ECRL), China Communications Construction Company Ltd (CCCC), is going to bear the operational risks of the rail together with its asset owner, Malaysia Rail Link Sdn Bhd (MRL).

Several stages need to be completed before a final decision can be made, Alexander said. 

GDB Holdings Bhd (KL:GDB) has secured a contract worth RM865.66 million — nearly three times its market capitalisation of RM304.54 million — from an associate company of Permodalan Nasional Bhd (PNB) to build a logistics hub in Seksyen 15, Shah Alam.