KUALA LUMPUR: Harbour-Link Group Bhd's subsidiary Eastern Soldar Engineering & Construction Sdn Bhd has been awarded a RM10.95 million contract for the erection, installation and pre-commissioning of eight new units of fuel oil storage tanks at the Port of Tanjung Langsat.</div>

<div class=newsTextDataWrapInner>Harbour-Link said today Eastern Soldar had accepted the letter of intent from Overseas Manufacturing (Johor) Sdn Bhd for the contract, which would be completed by February next year.</div><div class=inPageAd id=div-gpt-ad-inpage>

KUALA LUMPUR: Harbour-Link Group Bhd's subsidiary Eastern Soldar Engineering & Construction Sdn Bhd has been awarded a RM10.95 million contract for the erection, installation and pre-commissioning of eight new units of fuel oil storage tanks at the Port of Tanjung Langsat.

Harbour-Link said today Eastern Soldar had accepted the letter of intent from Overseas Manufacturing (Johor) Sdn Bhd for the contract, which would be completed by February next year.

Harbour-Link gets RM11m contract

The Pentagon has agreed with Lockheed Martin Corp on milestones the company can reach by year-end to earn some of a potential US$500 million (RM2.11 billion) payment withheld for F-35 jets lacking necessary hardware and software upgrades, according to the US programme manager.

US deal on F-35s allows Lockheed to win back withheld payments

Orange juice futures rose as Hurricane Milton approaches Florida, prompting evacuations and putting orange growers on alert.

Futures in New York gained as much as 3% in New York as the hurricane rapidly intensified in strength over the last 24 hours.

Orange juice futures rise as Hurricane Milton nears landfall

Umno is committed to strengthening the party and maintaining good cooperation with other parties in the unity government, says Umno president Datuk Seri Dr Ahmad Zahid Hamidi.

Umno committed to strengthening party, maintaining good cooperation in unity govt — Ahmad Zahid

(Oct 8): Hurricane Milton is on track to become a catastrophic Category 5 storm as it rakes Mexico’s Yucatan Peninsula on a path towards Florida’s western coastline, where evacuations are underway in a region still recovering from Helene’s devastation.

The storm’s top winds have reached...

Hurricane Milton nears Category 5 strength as it threatens Florida

Key US Treasury yields are back at 4%, a level last seen in August, after a blowout jobs report undercut chances for another big interest-rate reduction from the Federal Reserve.

Bonds dropped on Monday, extending a plunge from late last week following surprisingly robust September payrolls data. The 10-year yield rose as much as six basis points (bps) to 4.03%, while the two-year yield was jumped as much as up 10bps to 4.02%.

US yields back at 4% for first time since August on Fed rethink

Apple Inc shares fell over 1% after a Jefferies analyst said investors have overly optimistic expectations for the company’s latest iPhones, the first to come with artificial intelligence (AI) tools.

“The high expectations for iPhone 16/17 are premature,” as “a lack of material new features and limited AI coverage mean high market expectations [5-10% unit growth] are unlikely to be met,” wrote Jefferies analyst Edison Lee, who assumed coverage of the stock with a hold rating.

Apple dips as Jefferies says hopes for AI phone are overblown

Amazon.com Inc shares fell in premarket trading on Monday, following a rare analyst downgrade that cited concerns over margin trends into next year, which growth in the cloud computing business is unlikely to compensate for.

Amazon cut as Wells Fargo warns cloud strength ‘not enough’

One in seven UK business leaders would consider moving their company operations abroad if Chancellor of the Exchequer Rachel Reeves raises their tax burden at the budget later this month, according to a survey by pollster Savanta.

One in seven UK companies consider leaving if taxes increase — survey

The US Supreme Court declined on Monday to hear an appeal by a Chicago bank's former CEO who was convicted of bribery after approving US$16 million (RM67.5 million) in risky loans to Paul Manafort, Donald Trump's 2016 campaign chairman, in a bid to land a senior job in Trump's administration.

US Supreme Court rejects appeal by banker tied to Trump ex-aide Manafort

A brief recap of some business news and corporate announcements that made headlines on Monday.

Media Prima, HeiTech Padu, Uzma, Dayang, Hibiscus, Sapura Resources, Dialog, Tuju Setia, Ramssol, HE Group

Aurora Mulia Sdn Bhd, a company linked to tycoon Tan Sri Syed Mokhtar Al-Bukhary, has ceased to be a shareholder in Media Prima Bhd (KL:MEDIA) after five years as the largest shareholder in the media group.

Syed Mokhtar-linked firm ceases to be shareholder in Media Prima after offloading 31.9% stake

KUALA LUMPUR (Oct 7): HeiTech Padu Bhd (KL:HTPADU) has terminated its agreement to acquire a 30% stake in Souqa Fintech Sdn Bhd, less than two weeks after entering into the share subscription agreement (SSA).

HeiTech Padu aborts Souqa Fintech deal less than two weeks after agreement

A brief recap of some business news and corporate announcements that made headlines on Monday.

Dialog Group Bhd (KL:DIALOG) said its chief operating officer (COO) Mustaffa Kamal Abu Bakar has been promoted to chief executive officer (CEO), effective Monday.

Mustaffa, 60, has more than 37 years of working experience in the oil and gas and petrochemical industry. He formerly worked with Petronas Carigali Sdn Bhd for five years and other O&amp;G companies before joining Dialog in 2001 as a business development director and later as CEO of Dialog E&amp;C Sdn Bhd and Dialog Plant Services Sdn Bhd.

Dialog promotes COO Mustaffa Kamal to CEO, names Keith Collins as new COO

Tuju Setia Bhd (KL:TJSETIA), which is valued at RM66.5 million, said its joint venture (JV) company has secured a RM317.6 million contract to build a new block at Gleneagles Hospital in Jalan Ampang.

Tuju Setia's JV company bags RM318 mil construction job

Dayang Enterprise Holdings Bhd (KL:DAYANG) has secured order awards from Petronas Carigali Sdn Bhd for six accommodation work boats.

Dayang bags accommodation work boat contracts from Petronas Carigali

Oil and gas services provided Uzma Bhd (KL:UZMA) said its maiden 50-megawatt (MW) large-scale solar 4 (LSS4) project located in Sungai Petani, Kedah has reached its commercial operation date (COD) on Sept 25.

Uzma secures commercial operation date for 50MW solar farm in Kedah

Security seals manufacturer Mega Fortris Bhd on Monday signed an underwriting agreement with RHB Investment Bank Bhd and AmInvestment Bank Bhd for its proposed initial public offering (IPO) on the Main Market of Bursa Malaysia.

Security seals maker Mega Fortris inks underwriting agreement for Main Market IPO

Sapura Resources Bhd (KL:SAPRES) announced on Monday that its managing director Datuk Shahriman Shamsuddin has been placed on a leave of absence effective Sept 11, pending ongoing investigations, confirming a report in The Edge Malaysia weekly.

Sapura Resources confirms MD on leave of absence pending investigations

Ex-US Coast Guard (USCG) cutter Steadfast, which is set to be received by the Malaysian Maritime Enforcement Agency (MMEA), is scheduled to be brought to Malaysia at the end of this year.

Ex-USCG cutter Steadfast to be brought to Malaysia at year end 

(Oct 7):&nbsp;Cyber crime syndicates raked in as much as US$37 billion (RM158.47 billion) last year and are intensifying operations across Southeast Asia, despite mounting law enforcement efforts, the United Nations (UN) said.

Southeast Asian scammers stole up to US$37b in 2023, UN says

The Prime Minister's wife, Datuk Seri Dr Wan Azizah Wan Ismail, underwent a medical procedure at Sultan Idris Shah Hospital, Serdang, on Monday.

The hospital’s director, Dr Farique Rizal Abdul Hamid, in a statement on Monday night said that Dr Wan Azizah was in good condition but still required close monitoring by the medical team.

Dr Wan Azizah recovering after medical procedure at Sultan Idris Shah Hospital

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The National Artificial Intelligence Office (NAIO), which will serve as the central body to advance Malaysia’s AI agenda, will be launched next month, said the Ministry of Digital.

National AI Office to launch next month — Digital Ministry

SINGAPORE (Oct 7): DBS Group Holdings has appointed Kuok Khoon Hua as an independent non-executive director of its wholly owned subsidiary, DBS Bank (Hong Kong) Ltd, with effect from Monday.&nbsp;

DBS appoints Kuok Khoon Hua as independent non-exec director of DBS Hong Kong

The realignment of weekend holidays to Saturday and Sunday starting Jan 1, 2025 in Johor is expected to attract more foreign investors in an effort to further increase the country's economic growth.

Teo: Realignment of weekend to Saturday and Sunday can boost foreign investment in Johor

HE Group Bhd (KL:HEGROUP), which debuted on the ACE Market in January, has proposed a special issue of 45.6 million new shares or 9.39% of its enlarged share capital to meet its Bumiputera equity condition.

HE Group proposes special issue of 45.6 mil shares to Bumiputera investors

US stock indexes fell on Monday, pressured by rising treasury yields as markets recalibrated expectations for the Federal Reserve (Fed) rate cuts, while rising conflict in the Middle East kept traders on the sidelines.

Wall Street falters on rising yields, geopolitical risks

Ramssol Group Bhd (KL:RAMSSOL), a human capital management (HCM) provider, has been appointed as the authorised business partner for sales and marketing activities for a Singapore-based company.

Ramssol inks addendum agreement with Singapore-based company for AI-driven HR solutions

ITMAX System Bhd (KL:ITMAX) said it has secured a 15-year contract to operate 8,640 open-space smart parking lots in Muar, marking its fifth such contract in Johor state.

The contract, awarded to the group's 65%-owned subsidiary Southmax Sdn Bhd by the Muar Municipal Council (MPM), commenced on Oct 1 and will run until Sept 30, 2039, according to ITMAX's bourse filing.