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PETALING JAYA: Malaysian construction companies are not likely to be hit by the debt crisis affecting Dubai, said industry players. Dubai has been struggling to ease fears of a massive debt default after it moved to delay repayments at two flagship firms, which has shook confidence in the Middle East as a centre for investment.
IJM Corp Bhd is expected to inject its property development business into 70%-held subsidiary, RB Land Holdings Bhd.
Mild buying of Sime Darby and Tenaga helped the KLCI stay in positive territory in early trade on Thursday but steel stocks, which put on hefty gains since Monday after the government liberalised the sector, retreated.hr noshade size=1 width=50%>
IJM Corp Bhd maintains an enviable profit record: consistently in the black since its inception in 1983. Managed by professionals #8211; but none with significant stakes in the company #8211; IJM quickly built up its reputation soon after listing on the KLSE main board in 1986.