News by theedgemarkets.com

"We believe the new government is unlikely to proceed with the acquisition of Gamuda's toll highway stakes for RM2.36 billion, given the financial constraints as the federal government deficit is set to rise due to the economic stimulus measures.”

The view is that the current low OPR of 2%, coupled with large-scale stimulus packages and other measures introduced by the Government, have provided ample support for the country’s economy amid the COVID-19 crisis.

Gamuda said the MCO, imposed on March 18 to halt the spread of the Covid-19 pandemic, caused work stoppages and reduced traffic volume across its four expressways, as a result of which the group recorded its lowest quarterly revenue since 1QFY17.

“Our projection model shows that in mid-July, so maybe within next month, if we are still complying with the SOPs, we will record zero cases, and that is our mission,” Datuk Dr Noor Hisham Abdullah said in a media briefing yesterday.

The default arose after it failed to pay the instalment payments on the principal and interest since March this year.

Two were imported cases involving a Malaysian and a non-citizen who were infected while abroad.

“It is natural to anticipate a significant slowdown in tenant demand after three months of working remotely. For office spaces in the short term, the actual use of spaces will be different, as social distancing might be required for a longer period, with [fewer] people in the offices in the coming months,” said KPMG France’s Chemouny.

Magistrate Mohamad Aizat Abdul Rahim meted out the sentence against Ahmad Saiful, 32, saying that the prosecution had succeeded in proving that the case was beyond reasonable doubt before the court.

The decision was made by Justice Mohamed Zaini Mazlan after hearing submissions from all parties today.

CEO Ho Wen Yan: As we look forward to the second half of 2020, we are encouraged by the initiatives introduced by the government to spur the property market.