News by Wong Ee Lin

“The contract is also part of the capex (capital expenditure) works programme being implemented by Pengurusan Aset Air Bhd for the development of water infrastructure in Johor.”

The subcontract is set to be completed on Oct 31, 2022, said Cabnet.

BCorp said the disposal will enable the group to monetise its investments in the hotel, with an estimated gain exceeding RM600 million. The disposal is targeted to close in mid-March.

It will also accelerate planned investment projects by government-linked companies this year including one involving 1,400mw of solar power generation to flush more money into the economy.

Asked if the government will be issuing bonds to fund the stimulus package, Dr Mahathir said: “At the moment, we have enough source of money. But if necessary, we may issue bonds.”

Trading volume swelled to 86.63 million shares, making it the most actively traded counter on Bursa Malaysia. In comparison, its 200-day average volume is only 3.84 million shares.

Its quarterly revenue expanded 11.7% to RM155.8 million from RM139.5 million, according to a filing with Bursa Malaysia today.

"The overall impact of the virus on the Malaysian economy will depend on the duration and spread of the outbreak as well as policy responses by authorities."

This is after over two years since it entered a conditional joint venture agreement with Jade Classic Sdn Bhd to develop a potential mixed development on the said land.

However, the name of the individual was not revealed in its stock exchange filing on Sunday, while the group had announced on Jan 21 that its then CEO, 46-year-old Datuk Seri Kee Soon Ling had retired. No replacements have been announced since.