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Sunway Construction on track for RM1.5b job win target for FY19

KUALA LUMPUR: Having secured the RM781mil contract for the development of the Tenaga Nasional HQ campus (Phase II), Sunway Construction remains on track to achieve its RM1.5bil replenishment target for FY19E, says Maybank Investment Bank Research.

Building owners are unable to get the rent they are seeking

KUALA LUMPUR: Office rental among super prime buildings in the Klang Valley is expected to come down further with landlords struggling to get the rental rate they want, according to property consultancy Rahim & Co.

A tenant’s market: (from left) Rahim & Co estate agency director Robert Ang, director of PJ office Choy Yue Kwong, Rahim, valuation services director Chee Kok Thim and research director Sulaiman Saheh at the property review 2018/2019

SunCon wins RM781mil TNB job

PETALING JAYA: Sunway Construction Group Bhd’s (SunCon) subsidiary has secured a RM781.3mil contract from Tenaga Nasional Bhd (TNB) for the power giant’s campus in Bangsar.

SunCon, in a filing with Bursa Malaysia, said Sunway Construction Sdn Bhd had accepted the letter of award issued by TNB for phase two of the headquarters’ campus development.

MIDF: FBM KLCI to reach 1,800 points by year-end

PETALING JAYA: Despite the uncertainties, the local stock market is expected to move in an upward direction this year, backed by a less aggressive US Federal Reserve (Fed), mild local corporate earnings growth and supportive domestic economic policies, says MIDF Research.

In the near term, though, the direction of the local bourse would be influenced by various external factors such as the progress of the US-China trade war, Brexit and the US-North Korea summit, MIDF said

Pesona Metro bags RM408.8m contract from MRCB

KUALA LUMPUR: Pesona Metro Holdings Bhd has secured a RM408.80mil contract from Malaysian Resources Corporation Bhd (MRCB) to build three blocks of apartments.

MARC retains negative outlook on Kesturi's bonds

KUALA LUMPUR: Malaysian Rating Corporation (MARC) has affirmed its rating on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) debt notes but maintained its negative outlook.

MARC said downward pressure on the ratings could develop if the traffic ramp-up at Duta Ulu-Kelang Expressway (DUKE) Phase-2 D is slower than expected, resulting in an erosion of cash flow coverage.

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