News by Adam Aziz

Prime Minister Datuk Seri Anwar Ibrahim said his administration is reviewing the Mass Rapid Transit 3 (MRT3) project, and is confident of achieving further savings and bringing down the price tag to under RM45 billion, from RM50 billion announced by the previous government.

The country faces five core challenges in its domestic economy — a debt level that is too high, a decline in quality of administration, global economic uncertainties, a slow recovery in investments to pre-pandemic levels, and the impact of economic challenges on the rakyat — said Prime Minister Datuk Seri Anwar Ibrahim.

Pavilion Real Estate Investment Trust (Pavilion REIT) said its net property income in the quarter ended Dec 31, 2022 (4QFY2022) rose 17.17% to RM96.89 million from RM82.69 million, as higher rental income more than offset higher utilities and maintenance costs.

Malaysia Building Society Bhd (MBSB) said its chairman Tan Sri Azlan Zainol, who was also former Employees Provident Fund (EPF) chief executive officer, has passed away.

Prime Minister Datuk Seri Anwar Ibrahim on Wednesday (Dec 14) indicated a potential increase in electricity tariffs on the horizon for multinational companies that export and no subsidy for selected profitable "giant" companies.

The project, part of flood mitigation project allocations amounting to RM15 billion, is believed to be awarded through direct negotiations.

SKB Shutters, which manufactures roller shutters, steel doors and storage rack systems, said it acquired the land to set up a new automated manufacturing facility in the industrial park, which is located in Puncak Alam.

Loss-making Nexgram Holdings Bhd is acquiring Wings By Croske Resort Langkawi for RM90 million, to be paid via issuance of preference shares by its subsidiary Medic Asset Group Sdn Bhd (MAG).

The group has inked a conditional share SPA with XCL, which will mark Paramount’s exit from the education business.

Bank Negara Malaysia is not likely to take an aggressive stance in normalising its monetary policy to the pre-pandemic level as it would risk disrupting the ongoing economic recovery.