<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 2): Nestcon Bhd has bagged RM251.5 million in construction works for a mixed development project in Mukim Petaling in the Klang Valley.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing, Nestcon said its wholly-owned subsidiary Nestcon Builders Sdn Bhd had accepted a Letter of Award (LOA) from Altimas Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>The work under the LOA consists of main building works for the proposed mixed development of parcel 2, one block of 30-storey apartment suites (408 units) and one block of 34-storey apartment suites (526 units) comprising amenities, car parks and shops.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The completion of the contract works is within 34 months, which will commence on Jan 3 and is scheduled for completion by Nov 2, 2026.</p></div>

<div class=newsTextDataWrapInner><p>Nestcon said the LOA is expected to contribute positively to its net assets per share, earnings per share and gearing throughout the contract works.</p></div>

<div class=newsTextDataWrapInner><p>Nestcon Builders is principally involved in construction works, while Altimas is engaged in property development. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Nestcon's share price closed unchanged on Tuesday at 37.5 sen, valuing the company at RM256 million.</p></div>


Nestcon Bhd has bagged RM251.5 million in construction works for a mixed development project in Mukim Petaling in the Klang Valley.

In a bourse filing, Nestcon said its wholly-owned subsidiary Nestcon Builders Sdn Bhd had accepted a Letter of Award (LOA) from Altimas Sdn Bhd.

Nestcon bags RM252 mil construction job in Klang Valley

A selloff in Chinese stocks deepened on Friday afternoon, as disappointing tech earnings hurt sentiment already weakened by concerns over Donald Trump’s imminent return.
  
The mainland benchmark CSI 300 Index slumped 3.1%, the most since Oct 9. The Hang Seng China Enterprises Index of Chinese stocks traded in Hong Kong lost 2.1%, capping a second straight week of losses.

Chinese stocks slump on tech earnings, geopolitical tensions

A summary of how key Bursa Malaysia indices and the ringgit performed on Friday.

FBM KLCI up 0.07% to 1,589.78 on Nov 22, 2024

India will offer up to US$5 billion (RM22.4 billion) in incentives to local electronics companies to make components for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.

India to offer up to US$5b in incentives to local electronics firms, wean off China

WASHINGTON (Nov 21): The Federal Communications Commission (FCC) voted on Thursday to propose new rules governing undersea internet cables, in the face of growing security concerns, as part of a review of regulations on the links that handle nearly all of the world's online traffic.

US agency votes to launch review, update undersea telecom-cable rules

Japan's government said it would consider raising the basic tax-free income allowance in effective permanent tax cuts worth up to US$51 billion (RM227.86 billion), a step that could also help ease constraints on part-time workers amid intensifying labour shortages.

Japan considering raising income tax threshold in fresh economic stimulus

The contraction in Germany's private-sector activity worsened in November, dealing another blow to an economy that’s now grappling with a government collapse alongside flat-lining growth.

The composite Purchasing Managers’ Index (PMI) by S&P Global dipped to a nine-month low of 47.3 from 48.6 in October — holding below the 50 threshold separating expansion from contraction, data on Friday showed.

German private sector slides deeper into contraction on services

Eurozone business activity took a surprisingly sharp turn for the worse this month as the bloc's dominant services industry contracted and manufacturing sank deeper into recession, a survey showed on Friday.

Eurozone business activity declines abruptly in November, PMI shows

BENGALURU (Nov 22): India’s business activity rose at its fastest pace in three months in November, helped by an improving services industry and record job creation, but output inflation spiked to a near 12-year high, a survey showed.

Robust services drive India’s biz activity to three-month high in November, cost pressures grow

BAKU, Azerbaijan (Nov 22): The Ministry of Natural Resources and Environmental Sustainability (NRES) has dismissed RimbaWatch’s classification of certain fossil fuel companies as “fossil fuel lobbyists” as a misnomer.

COP29: Environment ministry dismisses RimbaWatch’s ‘fossil fuel lobbyists’ classification as a misnomer

European Central Bank president Christine Lagarde renewed her call for economic integration across Europe on Friday, arguing that intensifying global trade tensions and a growing technology gap with the United States create fresh urgency for action.

ECB's Lagarde renews integration call as trade war looms 

<p>AirAsia hopes to emulate Dubai’s success in connecting the world, but in a low-cost format from places like Bangkok and Kuala Lumpur as the discount carrier looks to move on from its tumultuous pandemic years.</p>


AirAsia founder plots low-cost Dubai-like hub in Bangkok, KL

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>Affin Bank Bhd (KL:AFFIN) on Friday cut some of its key financial expectations for the full year even as net profit surged in the third quarter, as the company continues efforts to improve profitability.</p>


Affin Bank cuts key expectations even as 3Q net profit surges

<p>KUALA LUMPUR (Nov 22): Shares of DRB-Hicom Bhd (KL:DRBHCOM) fell on Friday to their lowest in more than four years, after the automotive-to-banking conglomerate reported weaker than expected quarterly results.</p>


DRB-Hicom shares fall to over four-year low, analysts divided over outlook after 3Q

<p>KUALA LUMPUR (Nov 22): Globetronics Technology Bhd (KL:GTRONIC) surged as top most-actively-traded stocks on Friday morning, after the company secured a RM145 million contract to provide integrated circuit (IC) product packaging, testing, and backend services to Taiwan-based ChipMOS Technologies Inc. &nbsp;</p>


Globetronics shares surge on RM145m contract win with Taiwan’s ChipMOS

<p>CapitaLand Investment Ltd, one of Asia’s largest property investment managers, warned of potential losses as it seeks to extricate itself from China’s real estate crisis.</p>


CapitaLand warns of China losses as Singapore property investor cuts exposure

<p>Gold looked set for its largest weekly gain in over 13 months on Friday as escalating geopolitical tensions drove investors to safe assets, while a tech rebound led Asian equities higher after worries over Nvidia's sales growth eased.</p>


Gold surges over broader Ukraine war fears; tech stocks rebound

<p>Now is an opportune time to accumulate Dayang Enterprise Holdings Bhd (KL:DAYANG) shares given its undemanding valuations, said CGS International.</p>


Good opportunity to accumulate Dayang shares — CGS

<p>China’s richest man lashed out at two of the country’s biggest tech giants for fanning online vitriol targeting him earlier this year and instigating a price war that wiped out tens of billions of market value for his bottled-water empire.</p>


China’s richest man berates PDD, ByteDance for months of misery

<p>GEORGE TOWN (Nov 22): Penang&nbsp;welcomed Hong Kong Express’ (HK Express) inaugural direct flight from Hong Kong on Friday, marking a milestone in the state’s tourism development.</p>


Penang welcomes HK Express’ inaugural flight from Hong Kong

<p>KUALA LUMPUR (Nov 22): Berjaya Hartanah Bhd, a wholly owned subsidiary of Berjaya Land Bhd (KL:BJLAND), officially launched on Friday, its latest condominium development named Oaka Residences at Bukit Jalil, Kuala Lumpur. The project has a gross development value (GDV) of RM373 million.&nbsp;</p>


Berjaya Land launches RM373m Oaka Residences in Bukit Jalil

<p>KUALA LUMPUR (Nov 22): Hong Kong-based energy services firm Unity Group Holdings International Ltd said it is planning a secondary listing in Malaysia.</p>


Hong Kong-based Unity Group pursues secondary listing on Bursa Malaysia

<p>TOKYO (Nov 22): Nissan&nbsp;Motor&nbsp;will cut or transfer about 1,000 jobs in Thailand, as it shrinks production in Southeast Asia, part of its recently announced global workforce reduction plan, two sources familiar with the matter told<em> Reuters</em> on Friday.</p>


Nissan to cut or transfer about 1,000 jobs in Thailand — Reuters

<p>Inflation in Malaysia picked up slightly and was a tad faster than expected in October as prices of food and personal care products, including jewellery, rose, official data released on Friday showed.</p>


Inflation in Malaysia picks up slightly in October, official data shows

<p>US President-elect Donald Trump said on Thursday he would nominate former Florida attorney general and loyalist Pam Bondi to be US attorney general, moving swiftly to replace his former nominee Matt Gaetz after the embattled former congressman withdrew from consideration.</p>


Trump picks Pam Bondi for US attorney general after Gaetz withdraws

<p>The Royal Malaysian Police (PDRM) has no information on the whereabouts of wanted businessman Jho Low, who is reportedly in Myanmar, said Inspector-General of Police (IGP) Tan Sri Razarudin Husain.</p>


We have no information on Jho Low's whereabouts, says IGP

<p>KUALA LUMPUR (Nov 22): Master Builders Association Malaysia (MBAM) supports the Construction Industry Development Board (CIDB) Malaysia’s decision to retract its quality guidebook for homeowners, said MBAM president Oliver HC Wee.&nbsp;</p>


MBAM supports CIDB’s decision to retract quality guidebook for homeowners

<p>KUALA LUMPUR (Nov 22): TSH Resources Bhd (KL:TSH) reported a 12.19% increase in its net profit for the third quarter spanning July to September 2024 (3QFY2024), despite a drop in revenue, as it recorded reduced non-controlling interests, which resulted in the larger share of profit attributable to the owners of the company.</p>


TSH Resources reports 12% rise in 3Q net profit, pays 2.5 sen dividend

<p>KUALA LUMPUR (Nov 22): Damansara REIT Managers Sdn Bhd, the manager of Al-`Aqar Healthcare REIT &nbsp;(KL:ALAQAR)&nbsp;and Al-Salam REIT&nbsp;(KL:ALSREIT), has appointed Zulhilmy Kamaruddin as its new chief executive officer (CEO) as of Thursday (Nov 21).</p>


Damansara REIT Managers appoints Zulhilmy Kamaruddin as its new CEO

<p>Nvidia Corp assured investors that its new product lineup will continue to fuel an artificial intelligence-driven growth run, while also signaling that the rush to get chips out the door is proving costlier than expected.&nbsp;</p>
