News by Justin Lim

"The turnaround plan is to ensure we can recover money that we paid to contractors, as much as possible, in order for us to meet all our obligations and liabilities," said PR1MA chairman Tan Sri Eddy Chen.

Kimlun said its wholly-owned Kimlun Sdn Bhd secured the job from Rexpoint Resources Sdn Bhd.

IGB REIT, which owns Mid Valley Megamall and Gardens Mall, posted a marginal 0.94% increase in net property income for its first quarter ended March 31, 2019 (1QFY19).

The campaign carries a grand prize of RM1 million and total cash prizes worth close to RM2 million.

“Assuming 50% of this comprises construction cost, this would present RM70 billion worth of potential job flows. Moreover, the emphasis of local content in the construction process would further stimulate local construction activities.”

The research house said the value has emerged given that IOI Properties' share price has fallen about 15-20% in the past three months.

The construction firm together with its consortium partner, DWL Resources Bhd, is said to have submitted its bid for jobs in the newly revived East Coast Rail Link (ECRL). The contract value could be to the tune of multibillion ringgit.

The slightly lower net property income was mainly attributed to lower rental fees and higher operating expenses.

Without the proposals, Seacera said it will be in a grave financial condition in view of the group’s dire need for funds to address its critical liquidity concerns.

Its executive director and chief executive officer, Datuk Hisham Othman, said Hektar REIT's strategy is to own malls in geographically diverse locations.