News by Tan Siew Mung

"While the industry endeavours to fill those vacancies with locals, foreign workers are usually employed to fill up general operator-level jobs which employers are finding difficulty to be filled by locals due to the nature of the job or industry and job expectations of locals."

In a statement, Ageson said the survey had certified that only RM2.8 million worth of preliminary work and RM8.6 million of piling works had been done as at Nov 22, 2017.

The proposed acquisitions will be funded by internally-generated funds and bank borrowings, it said.

Hong Leong Investment Bank (HLIB) Research said in a note today that the development of MRT 3 would serve as an upside catalyst for the sector, but it reckoned that uncertainties regarding the timeline as well as hurdles on various fronts (political, funding, etc) remain key concerns.

“The decision to remove the 30% limitation for management staff to work in office is a positive step and we hope that the situation would soon be able to return to business as usual.”

Affin Hwang Capital’s analyst Loong Chee Wei in a note today said, he believed the takeover price of 60 sen is reasonable given the high implied FY22 price to earnings ratio of 28 times and challenging prospects for E&O as border closures remain, which affects the sales of its high-end residential project.

Sime Darby said the disposal is in-line with its ongoing non-core asset rationalisation exercise

EWI said the higher profit was mainly due to the commencement of revenue and profit recognition of Yarra One, following progressive handover of units sold to customers and higher share of results in joint ventures.

Proceeds from the sukuk issuance will be used for repayment of several identified existing borrowings and working capital requirements.

It said in a statement that in resolving the communities’ communal and individual land claims made during the community participatory mapping stage, its unit IOI Pelita had offered to relinquish their interest over all the remaining land in Miri which had not been planted with oil palm by them.