News by Choy Nyen Yiau

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.

Scientex Bhd's (KL:SCIENTX) net profit for the third quarter ended April 30, 2024 (3QFY2024) rose 18.9% year-on-year (y-o-y) to RM130.5 million, from RM109.8 million previously, driven by an 11% expansion in revenue.

WCT Holdings Bhd (KL:WCT) said on Thursday that it has secured a contract worth RM249.74 million to build additional lanes for the North-South Expressway (PLUS) expansion project.

Binastra Corp Bhd (KL:BNASTRA), formerly known as Comintel Corp Bhd, achieved a record high quarterly net profit of RM18.1 million, or four sen per share, for the three months ended April 30, 2024 (1QFY2025).

Eco World Development Group Bhd (KL:ECOWLD) reported an 11.7% increase in net profit to RM70 million for the second quarter ended April 30, 2024 (2QFY2024), up from RM62.7 million a year ago, driven by higher revenue and cost savings in completed and near-completion development projects.

Binastra Corp Bhd (KL:BNASTRA) said on Wednesday that it had secured an RM331.7 million contract to construct a residential apartment complex in Kota Kinabalu, Sabah.

The Master Builders Association Malaysia (MBAM) and Persatuan Kontraktor Bumiputera Malaysia (PKBM) have appealed to the federal government to include vehicles transporting building materials and cranes in the list of transportation eligible for diesel subsidies.

Construction progress of the Rapid Transit System (RTS) Link project between Johor Bahru and Singapore has reached 77.61% as of May 31, according to Mass Rapid Transit Corp Sdn Bhd (MRT Corp).