Recent Articles

Gamuda, MMC slide as Dr M deepens spending cuts

Gamuda, MMC slide as Dr M deepens spending cuts

KUALA LUMPUR: Malaysian contractors are plunging as the government intensifies its efforts to rein in spending by reducing the cost of an almost US$14 billion mass-rapid transit project. Shares of Gamuda Bhd slid by a record and MMC Corp fell to the lowest in nine years after the finance ministry rejected an offer from the […]

October 8, 2018 | By | Reply More
Malaysia Airlines chairman to leave by year-end?

Malaysia Airlines chairman to leave by year-end?

KUALA LUMPUR: Mohammed Nor Md Yusof, chairman of Malaysia Airlines Bhd, is planning to leave the state-owned carrier by the end of this year, people familiar with the matter said. Mohammed Nor, who was named chairman of pilgrims fund Lembaga Tabung Haji in July, plans to focus on that role after leaving the airline, said […]

October 8, 2018 | By | Reply More
Microsoft to invest in Grab

Microsoft to invest in Grab

A woman stands outside the Grab transport office in Singapore. (AFP pic) SINGAPORE: Microsoft Corp is investing in Southeast Asian ride-hailing firm Grab as part of a partnership that the two companies said will allow them to collaborate on technology projects, including big data and artificial intelligence. The companies did not disclose the deal value. […]

October 8, 2018 | By | Reply More
The social media network you love to hate now puts a camera in your home

The social media network you love to hate now puts a camera in your home

Despite the Cambridge Analytica data breach scandal, despite million of users deactivating their accounts daily, tech giant Facebook now introduces a whole new level of creepy and stalker-enabling tools: a tablet-like device with a 10-inch screen called Portal allowing you to make video calls over its Messenger app. (So now you can take unwanted intrusiveness […]

October 8, 2018 | By | Reply More
Airports of Thailand plans US$4.3 billion expansion as arrivals rise

Airports of Thailand plans US$4.3 billion expansion as arrivals rise

Inside Bangkok’s Suvarnabhumi Airport (Bloomberg pic) BANGKOK: Airports of Thailand Pcl (AOT) plans to invest 140 billion baht (US$4.26 billion) to expand the country’s main airport as it expects an increase in passenger arrivals, a senior executive said on Monday. Suvarnabhumi airport will add a second satellite terminal, a third terminal and a fourth runway […]

October 8, 2018 | By | Reply More
MMC Gamuda says 20,000 jobs at stake, invites govt to come back to negotiation table over MRT2

MMC Gamuda says 20,000 jobs at stake, invites govt to come back to negotiation table over MRT2

PETALING JAYA: MMC Corp Bhd and Gamuda Bhd Joint Venture (MMC Gamuda) is asking the government to reconsider its decision to terminate the underground works contract for Mass Rapid Transit 2 (MRT2) citing exposure to a flood of lawsuits, the loss of more than 20,000 jobs and a review by a local engineering consulting firm […]

October 8, 2018 | By | Reply More
Construction stocks crumble on news of MRT2 undergound works retender

Construction stocks crumble on news of MRT2 undergound works retender

PETALING JAYA: Construction stocks were spooked today by news of the retendering of MRT2 underground contract, with Gamuda Bhd, part of MMC Gamuda Joint Venture appointed as project delivery partner (PDP) for the mega project, seeing the steepest drop of as much as 24.3%. Gamuda’s share price hit a multi-year low of RM2.32 on concerns […]

October 8, 2018 | By | Reply More
Ministry to review bumiputra quota for housing projects

Ministry to review bumiputra quota for housing projects

KUALA LUMPUR: The Housing and Local Government Ministry will study the bumiputra quota for housing projects and its release mechanism as housing developers have long lamented the burden of unsold bumiputra units. Housing and Local Government Minister Zuraida Kamaruddin understood that some states even have a bumiputra quota as high as 70%. Currently, different states […]

October 8, 2018 | By | Reply More
Saudi Crown Prince’s 2021 Aramco IPO deadline is a daunting test

Saudi Crown Prince’s 2021 Aramco IPO deadline is a daunting test

(Bloomberg pic) LONDON: One of the biggest-ever mergers in the oil industry. The largest corporate bond sale on record. The most lucrative initial public offering in “human history.” The timetable: two and a half years. After a summer when the IPO of Saudi Arabia’s state oil-giant Aramco appeared set for semi-permanent limbo, Crown Prince Mohammed […]

October 8, 2018 | By | Reply More
Everyone’s fleeing China stocks as foreigners dump US$1.4 billion

Everyone’s fleeing China stocks as foreigners dump US$1.4 billion

Morning commuters walk into a Shanghai Shentong Metro Co. subway train stop in the Pudong area in Shanghai, China. (Bloomberg pic) HONG KONG: Chinese stocks’ worst October start in a decade has scared off the last remaining bulls. Foreigners dumped a net 9.7 billion yuan ($1.4 billion) of A shares through exchange links with Hong […]

October 8, 2018 | By | Reply More