<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 23): Marine &amp; General Bhd (M&amp;G) said Repsol Oil &amp; Gas Malaysia Ltd has suspended a RM5.5 million work order awarded to its unit Jasa Merin (Malaysia) Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>M&amp;G did not state the reason for the suspension in its filing with Bursa Malaysia today.</p></div>

<div class=newsTextDataWrapInner><p>It added that Jasa Merin received the suspension order on May 26 but only received approval from Repsol to announce the suspension yesterday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The suspension is expected to reduce the revenue of M&amp;G for the financial period ending April 30, 2021 by RM5.5 million," the group said. "The suspension is not expected to have any effect on the share capital and shareholding structure of M&amp;G."</p></div>

<div class=newsTextDataWrapInner><p>The original expiry date for the work order was Oct 31, 2020, it added.</p></div>

<div class=newsTextDataWrapInner><p>Shares in M&amp;G were unchanged at eight sen in afternoon trading, valuing the group at RM57.91 million. Some 20,000 shares were traded.</p></div>


Marine & General Bhd said Repsol Oil & Gas Malaysia Ltd has suspended a RM5.5 million work order awarded to its unit Jasa Merin (Malaysia) Sdn Bhd.

Marine & General unit's RM5.5m work order suspended by Repsol

New-home sales in the US rebounded last month as builders and consumers sealed deals that had been delayed by storms in the South, and buyers took advantage of heavy sales incentives.

Sales of new single-family homes increased 5.9% last month to a 664,000 annualised rate, according to government data issued on Monday.

US new-home sales rebound in November after storm-stricken month

The Malaysian Communications and Multimedia Commission (MCMC) is taking immediate action to address scams relating to MyPR (Red IC) application on Facebook, said Deputy Communications Minister Teo Nie Ching.

Deputy minister urges caution, vows swift action against red IC scams

US consumer confidence unexpectedly sank in December for the first time in three months on concerns about the outlook for the economy amid uncertainty around the Trump administration’s policies.

US consumer confidence falls as politics weigh on outlook

Daiwa Securities Group Inc may need more time to achieve profit in China, according to the head of Japan’s second biggest brokerage, reflecting how investment banks continue to struggle on the mainland.

Daiwa’s China venture may take longer to make profit, says CEO 

Wall Street's main indexes were mixed at the start of a holiday-shortened week on Monday, after a stopgap government funding bill averted a partial shutdown and investors braced for a slower pace of rate cuts from the US central bank next year.

Wall Street opens mixed as holiday-shortened week starts

Luigi Mangione, the man accused of fatally gunning down UnitedHealth Group executive Brian Thompson on a Manhattan street, pleaded not guilty on Monday to New York state murder charges that brand him a terrorist.

Suspect in UnitedHealth executive's killing pleads not guilty to murder, terrorism charges

Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.

KLCCP Stapled, Tuju Setia, Coastal Contracts, Powerwell, Prolintas, Malayan Flour Mills, Malakoff, Heitech Padu, Supercomnet, ECM Libra, Esthetics International 

The Energy Commission (EC) was to inform winners of the fifth large scale solar bidding round (LSS5) beginning Monday, following nine months of deliberation since it was opened in April this year.

Energy Commission says LSS5 bids finalised but mum on winners

Walmart Inc and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers without their consent, a US consumer protection agency said on Monday.

CFPB sues Walmart, fintech partner for illegal account openings

Orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.

Orders for US business equipment rise by most in over a year

<p>KLCC (Holdings) Sdn Bhd, a unit of national oil and gas company Petroliam Nasional Bhd (Petronas), on Monday said that it has acquired 486 acres of Bandar Malaysia land for an undisclosed price.</p>


KLCC Holdings to develop 486 acres of land acquired from Bandar Malaysia

<p>Shares of Top Glove Corporation Bhd (KL:TOPGLOV) may have little upside as valuations stretched with the recent rally in share prices while earnings outlook remained clouded by both costs and sales concerns.</p>


Top Glove shares may have little further upside amid stretched valuations, outlook cloudy — analysts

<p>HeiTech Padu Bhd (KL:HTPADU) said on Monday that its group managing director and group chief executive officer, Salmi Nadia Mohd Hilmey, is resigning voluntarily&nbsp;from all positions within the company, effective from Dec 31.</p>


HeiTech Padu deputy chairman's daughter relinquishes all positions

<p>Tuju Setia Bhd (KL:TJSETIA) has secured a contract worth RM389 million to build serviced apartments in Wangsa Maju, Setapak.</p>

<p>The contract involves construction of two blocks of 52-storey serviced apartments with 17 levels of automated car park, with rooftop facilities and common facilities&nbsp;at ground floor under the Milla Residence, the company said in a statement.</p>


Tuju Setia wins RM389 mil construction contract

<p>1Malaysia Development Bhd (1MDB), the former Malaysian sovereign wealth fund embroiled in one of the largest financial scandals in history, and its subsidiaries have initiated legal claims exceeding US$1 billion (RM4.5 billion) against Hong Kong-headquartered corporate services provider Amicorp Group and its co-founder and chief executive officer Toine Knipping.</p>


1MDB files US$1 bil suit in BVI against Amicorp Group over role in US$7 bil fraud

<p>As of the third quarter of 2024, highway-related projects awarded to Bumiputera contractors, in Grades G1 to G7, have reached RM15.09 billion, nearly matching the RM15.1 billion allocated to the group last year, said Deputy Works Minister Datuk Seri Ahmad Maslan.</p>


RM15.09 billion highway-related projects awarded to Bumiputera contractors — Ahmad Maslan

<p>The government on Monday announced an additional rooftop solar quota under the net energy metering (NEM) mechanism for households (NEM Rakyat) and the commercial and industrial segment (NEM Nova).</p>


Govt adds rooftop solar quota again; household rebate extended until April

<p>ECM Libra Group Bhd’s (KL:ECM) 50%-owned unit OHG Services Sdn Bhd will pay Malaysia Airports (Sepang) Sdn Bhd RM29.9 million to extend its concession agreement to manage and operate a 'limited-service hotel' at the Kuala Lumpur International Airport (KLIA) for another 35 years.</p>


ECM Libra unit pays RM30m to extend hotel concession in KLIA for another 35 years

<p>Capital A Bhd is expected to exit Practice Note 17 (PN17) status by the first quarter of next year after submitting its proposed regularisation plan to Bursa Malaysia Securities Bhd on Monday.</p>


Capital A to exit PN17 status by 1Q2025, says CEO

<p>Malaysia’s listed companies must prepare sustainability reporting in their annual reports using the IFRS’ Sustainability Disclosure Standards, Bursa Malaysia announced on Monday.</p>


Listed cos must prepare sustainability reporting using IFRS standards, says Bursa

<p>The High Court has dismissed Youth and Sports Minister Hannah Yeoh's libel suit against former inspector general of police Tan Sri Musa Hassan over his comments that she was trying to turn Malaysia into a “Christian nation”.</p>

<p>High Court Judicial Commissioner Arziah Mohamad Apandi in a decision delivered on Monday said that the Segambut Member of Parliament (MP) failed to establish essential elements in a defamatory suit and that there was no malice in Musa's statement. She awarded costs of RM40,000 to Musa.</p>


Court dismisses Hannah Yeoh's suit against former IGP over 'Christian nation' comment

<p>Capital A Bhd is in discussions with aircraft manufacturers Airbus, Embraer and Comac to purchase new aircraft as part of its expansion strategy for its airline operations under the AirAsia brand.</p>


AirAsia in talks to buy new aircraft as part of expansion strategy — Tony Fernandes

<p>Public approval for Prime Minister Datuk Seri Anwar Ibrahim rose to 54% after two years in power, according to the latest polling published by the research house Merdeka Center last Friday.</p>


Public approval for Anwar, unity govt rises in second year, survey shows

<p>Power and water company Malakoff Corp Bhd (KL:MALAKOF) has redesignated its executive vice-chairman Tan Sri Che Khalib Mohamad Noh as non-independent non-executive chairman, effective from January 2025.</p>


Malakoff redesignates Che Khalib as non-executive chairman

<p>Two commercial projects by S P Setia Bhd (KL:SPSETIA) namely Pines Avenue at Setia EcoHill 2 and Baris Place 2 at Setia Mayuri, both located in Semenyih, Selangor, have been fully taken up, according to a statement on Monday.</p>


Two recently launched commercial projects in Semenyih by S P Setia fully taken up

<p>Oil and gas services provider Coastal Contracts Bhd (KL:COASTAL) said a consortium led by the group has secured the bid to develop a 15MWac large-scale solar photovoltaic (PV) plant on Sabah's east coast.</p>


Coastal Contracts consortium wins bid for Sabah LSS power plant project

<p>Local institutions continued to support Bursa Malaysia for the ninth consecutive week, recording net equity purchases of RM1.05 billion last week, according to MIDF Research.</p>

<p>This was an increase from the net inflow of RM995.5 million in the preceding week.</p>


Local institutions extend buying streak on Bursa Malaysia for ninth week

<p>Asian investors should focus back on the domestic economy, and countries such as Malaysia, India, Indonesia, and Thailand have favourable demographics to support domestic consumption, said British asset management firm Schroders.</p>


Investors should refocus on Asia's economy, Malaysia's domestic spending — Schroders

<p>The Biden administration on Monday announced a last-minute trade investigation into Chinese-made "legacy" semiconductors that could heap more US tariffs on chips from China that power everyday goods from autos to washing machines to telecoms gear.</p>


Biden launches new US trade probe into legacy Chinese chips

<p>Electrical products manufacturer Powerwell Holdings Bhd (KL:PWRWELL) has secured a RM27 million contract to supply low-voltage switchboards for a data centre project in Malaysia.</p>
