Salcon’s wholly-owned Salcon Engineering Bhd secured an RM50.85mil sub-contract from China Geo Engineering Corporation for a water supply construction project in Sri Lanka, to carry out mechanical and electrical work for the Valachchenai Water Supply Project.
IOI Corp is planning to use part of the proceeds from its divestment of a 70% stake in its specialty oils and fat business IOI Loders Croklaan to acquire more oil palm plantations.
The group is especially interested in purchasing plantations close to its existing ones in Sabah and Kalimantan, Indonesia, as part of its move to invest further into its upstream business.
Yee Lee's subsidiaries Canpac Sdn Bhd and Yee Lee Trading Co Sdn Bhd are acquiring 9.62 hectares of land in Ulu Selangor for RM25.9mil from Panaheights Development Sdn Bhd for the construction of an aerosol can factory and a regional distribution centre for future expansion.
Gamuda returned to the black in the fourth quarter ended July 31, 2019 with a net profit of RM184.95mil, versus a net loss of RM103.64mil a year ago.
Sapura Energy's net loss for the second quarter ended July 31, 2019 narrowed to RM116.31mil from RM126.06mil last year on the back of an 87% jump in revenue to RM1.93bil from RM1.03bil.
On Friday, US markets declined as the US government could potentially limit US investment into China.
Earlier, European stocks advanced due to optimism on developments in the US-China trade talks.
“Following the mixed performances in the US and Europe, the FBM KLCI could remain pressured with support at 1,770 points,” JF Apex said.
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