News by theedgemarkets.com

“Gamuda’s net gearing remains at a reasonable level of 35%. It maintains a high cash balance of RM2.5 billion and receives strong support from banks. About half its debts are long-term borrowings. Hence, (even without the deal) it will be able to be to sustain its operations, despite slow sales and slow construction progress billings.”

There is a lot of evidence to suggest that Malaysia will ride out this storm better than many other economies around the world.

He said Malaysia is fortunate to have a very diversified economy that does not depend on just one or two sectors

This was despite revenue rising 2% to RM741.41 million, from RM727.22 million previously.

The property developer said the mandatory closure of all its sales galleries and construction sites throughout the MCO period affected earnings, with revenue falling 36.4% to RM345.4 million from RM543.18 million a year ago.

The decision to close the hiking spot was made under Section 18 of the Prevention and Control of Infectious Diseases Act 1988 after photos of long queues of hikers waiting to enter Broga Hill went viral on social media.

Of the four new cases reported today, three were imported.

Reviewing its performance, Zecon said the initial stage of Movement Control Order had affected the targeted recognition of revenue from construction.

Carpet businessman Deepak Jaikishan alleged that the defendants sought to wrongfully deprive him of two plots of land in Kapar, Klang measuring 96.83 acres and 81.09 acres respectively and 45.42 acres of land in Bukit Raja, Petaling.

In June last year, the MACC initiated a civil forfeiture suit against 41 entities, comprising individuals, companies and political parties under the AMLATFPUA to recover about RM270 million believed to be linked to 1MDB.