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Vehicle sales 27% higher in August due to zero GST

PETALING JAYA: Total vehicles sales in August was 65,551 units, 26.8% higher than in the corresponding month in 2017 due to a reduction in prices from the zerorisation of the Goods and Services Tax.

Good sales: MAA says sales of passenger vehicles in August rose 21 to 55,662 from a year earlier.

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 .

Spectre of new US tariffs

Analysts expect worsening trade war to cause slowdown in the global and emerging nations economy too.

“The negative effects may not be seen immediately, perhaps by end-2018 or beginning next year. But, the risks have elevated not only for the United States and China, but also globally.  “For Malaysia, the gross domestic product (GDP) growth in 2019 is likely to be slower than this year, on the back of worsening trade hostilities between the United States and China,” Socio Economic Research Centre executive director Lee Heng Guie told StarBiz yesterday

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.

SC takes Multi Sports to task again

PETALING JAYA: The Securities Commission (SC) has deemed Multi Sports Holdings Ltd’s retention of Lin Huozhi and Lin Liying as executive directors as prejudicial to public interest.

Workers are painting the shoes sole in the factory of a subsidiary of Multi Sports Holdings Ltd in Jinjiang, China. - Filepic

TNB to work closely with MyPower for industry reform

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) will work closely with MyPower, the special-purpose agency to be reactivated by the government for energy industry reform, to reduce the people's perception that it is a monopoly, said chief executive officer Datuk Seri Azman Mohd (pic).

Azman Mohd (pic) said the utility giant has a lot of ideas and experience to contribute to the industry reforms in line with the government's Malaysia Energy Supply Industry (MESI) 2.0 programme.