News by THEEDGEMARKETS.COM

The land has good development potential due to its location and the JV is expected to contribute positively to the group's earnings in the future.

Syed Hizam has been suspended since May to facilitate investigations into allegations of possible financial mismanagement in relation to the group’s investments and operations.

The improved earnings were attributed to the RM197.4 million provision made for the impairment of contract assets, trades and other receivables it incurred a year ago as a result of the Covid-19 pandemic.

Scientex said it plans to launch a mixed development project on the land, with its gross development value yet to be determined.

This brought the total number of Covid-19 cases in the country to date to 1,725,357. 

Kenanga Research said while Genting Bhd’s first half ended June 30, 2021 (1HFY21) core loss of RM111 million missed expectations, strong UK and US numbers in the second quarter (2QFY21) due to reopening and relaxing operating restrictions led the research house to believe that a swift recovery is in store for Resort World Group and Resort World Singapore once business and borders reopen. 

Cumulatively, 34.03 million Covid-19 vaccine doses had been administered as of yesterday.

Meanwhile, 19.24 million representing 82.2% of its adult population had had at least one dose of the vaccine. 

The daily figure was marginally lower than yesterday's 22,597 cases.

Active cases climb to 268,548