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RHB: Malaysia's real GDP growth at 5% in 2018-2019

KUALA LUMPUR: RHB Research expects Malaysia's real gross domestic product (GDP) to grow at five per cent this year and next year, slower than the 5.9 per cent achieved in 2017 due to weakening external demand.

WCT boosted by new RM1.77bil contract

PETALING JAYA: WCT Holdings Bhd shares closed higher on news that it had bagged a contract worth RM1.77bil for construction works relating to the proposed Pavilion Damansara Heights commercial development.

At 5pm yesterday, WCT, which is principally involved in engineering, construction, property development, saw its shares close seven sen up at 93 sen.  Analysts are positive on the contract win, given the cautious outlook on the construction sector as the government scales back on public projects.

Gamuda’s bid for S’pore site is the highest

PETALING JAYA: Gamuda (Singapore) Pte Ltd’s joint tender with Evia Real Estate (7) Pte Ltd for a 51,411.9 square metre parcel of land in Anchorvale Crescent, Singapore, has emerged as the highest bid.

Gamuda Singapore, a wholly owned subsidiary of Gamuda Bhd, made a joint bid of S$318.89mil (RM963mil) for the tract earmarked for executive condominium development .

YFG gets RM30mil contract in Penang

PETALING JAYA: YFG Bhd has received a construction contract in Penang worth RM30mil from a unit of Atta Global Group Bhd.

In a filing with Bursa Malaysia yesterday, YFG said its unit YFG Engineering Sdn Bhd had accepted a letter of award from Sungguh Gemilang Development Sdn Bhd, a subsidiary of Atta Global, for the contract works for the proposed construction of 112 units of 14-storey apartment building and eight units of three-storey terrace houses in Butterworth.

Ideal Jacobs bags RM71mil Sabah job

KUALA LUMPUR: Ideal Jacobs (Malaysia) Corp Bhd’s wholly-owned subsidiary, Widad Builders Sdn Bhd (WBSB), has bagged a RM71mil contract from Pemajuan Ilham Enterprise Sdn Bhd.

In a filing with Bursa Malaysia, Ideal Jacobs said WBSB would be the main contractor for the Malaysia Civil Servants Housing Project (PPAM) in Kota Kinabalu, comprising 301 units of single-storey link houses.

BoK wary of weak job growth, uncertainties

SEOUL: South Korea’s economy may not be strong enough for an immediate interest rate increase due to weak job growth and other uncertainties, minutes from the Bank of Korea’s (BoK) August meeting released yesterday showed four board members saying.

“There is growing concerns about real growth, broadly, as job growth is sluggish when capital investment and construction investment are undergoing corrections,” one of the central bank’s seven board members said