<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 12): Minetech Resources Bhd (KL:MINETEC) has bagged a contract to undertake the proposed construction and completion of road and drainage works for Banting Industrial City in Kuala Langat, Selangor, worth RM4.05 million.</p></div>

<div class=newsTextDataWrapInner><p>The contract, which was awarded by VED Engineers Sdn Bhd to the group's wholly-owned subsidiary Minetech Construction Sdn Bhd, commenced on June 28, 2024 and is slated for completion within three months, Minetech said in a bourse filing on Friday.</p></div>

<div class=newsTextDataWrapInner><p>"The award of this project to Minetech adds to the support in infrastructure development. The Banting Industrial City contract is not just a testament to our robust expertise in civil engineering, but also a strategic enhancement to our competitive edge in the industry," its executive chairman Abang Abdillah Izzarim said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Just last week, Minetech announced that it had secured a similar road and drainage system upgrade contract in Kuala Lumpur from a subsidiary of Mah Sing Group Bhd (KL:MAHSING), MyVilla Development Sdn Bhd, worth RM16.10 million.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Minetech closed unchanged at 14.5 sen on Friday, as its market capitalisation stood at RM258.82 million.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/717759" target="_blank">Minetech secures RM16.1m contract for KL road, drainage upgrading work</a></em><br />
&nbsp;</p></div>


Minetech Resources Bhd (KL:MINETEC) has bagged a contract to undertake the proposed construction and completion of road and drainage works for Banting Industrial City in Kuala Langat, Selangor, worth RM4.05 million.

Minetech bags RM4.05m contract for road, drainage works in Banting Industrial City

Kein Hing International Bhd (KL:KEINHIN) is acquiring a semi-detached factory with offices for RM5.9 million in cash.

Kein Hing to buy land with factory and office in Selangor for RM5.9 mil

Sri Lanka’s main opposition leader said he’ll reopen negotiations with the International Monetary Fund (IMF) on its US$3 billion (RM13 billion) loan if he wins next week’s presidential election to ease the financial burden on working class people.

Sri Lanka opposition candidate Premadasa wants to renegotiate IMF loan

(Sept 13): One of JPMorgan Chase & Co’s most senior executives in the Middle East has left after 28 years with the bank.

JPMorgan Mideast veteran Asif Raza leaves bank after 28 years

The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to strengthen protections for strategic domestic industries from China's state-driven excess production capacity.

US locks in steep China tariff hikes, many to start Sept 27 

Indonesia's President-elect Prabowo Subianto plans to launch a green economy fund by selling carbon emission credits from projects such as rainforest preservation, aiming to raise US$65 billion (RM280 billion) by 2028, an adviser told Reuters.

Indonesia's Prabowo plans US$65b green fund from selling carbon credits 

(Sept 13): Traders are entertaining the prospect of a large US Federal Reserve interest-rate cut once again, spurring a rally in US government bonds and injecting a fresh dose of uncertainty over next week’s decision.

Traders revive chance of half-point Fed cut with just days to go

A surge of US investment by Chinese solar panel makers threatens to enhance Beijing’s dominance of the sector, rather than weaning the world’s biggest economy off of it, according to an analysis released on Friday.

China’s US solar outposts undermine homegrown firms, says report 

KUALA LUMPUR (Sept 13): As climate-related risks become a growing concern for financial institutions, banks are increasingly exposed to vulnerabilities across various regions and sectors.

S&P: Growing climate risks and greenwashing fears threaten banks’ creditworthiness

China suspended the operations of PricewaterhouseCoopers LLP for six months and imposed a record fine over lapses in its auditing of China Evergrande Group.

China levies record penalty on PwC over Evergrande fraud 

Gold prices extended gains to hit a record high on Friday on expectations of interest rate cuts by the Federal Reserve, while palladium was set to log its best week in nine months.

US Fed rate cut bets drive gold to all-time high

<p>KUALA LUMPUR (Sept 13): Genting Bhd’s (KL:GENTING) new floating liquefied natural gas (FLNG) facility could potentially add RM613 million per annum to its net profit from FY2027 onwards, and RM1.27 per share to fair value.&nbsp;</p>


Genting’s new FLNG facility to boost annual earnings by RM613m from FY2027 — CIMB

<p>Thirteen children at shelter homes raided by the Royal Malaysian Police in an operation recently, code-named Op Global, are suspected to have been sodomised.</p>


Cops believe 13 children from shelter homes to be victims of sodomy, open investigation papers against four men

<p>The dollar fell on Friday to its lowest this year against the yen and gold hit a record high after a dramatic overnight shift in investor expectations for a super-sized Federal Reserve interest rate cut next week.</p>


Dollar drops, gold hits record as investors mull 'coin-toss' Fed decision

<p>Former deputy minister Datuk Dr Mashitah Ibrahim has filed a defamation suit against the Malaysia International Humanitarian Organisation and two office bearers of the non-governmental organisation (NGO).</p>


Former deputy minister sues NGO for defamation over human trafficking claims

<p>East West Horizon Plantation Bhd, which manages oil palm plantation schemes, and its officers Dr Jessie Tang and Terrence Mark, were charged in the Sessions Court on Friday for alleged trust deed violation.</p>


East West Horizon Plantation charged for alleged trust deed violation

<p>Shares of Poh Huat Resources Holdings Bhd (KL:POHUAT) fell to an 11-month low on Friday, after the furniture company reported weaker-than-expected quarterly results.</p>

<p>Poh Huat declined four sen or 3% to RM1.29, its lowest since Oct 19, 2023. At that price, the company had a market capitalisation of RM359 million. Trading volume, however, was thin at 9.30am, with 61,700 million shares changing hands.</p>


Poh Huat shares down to 11-month low after disappointing quarterly results

<p>Hong Leong Asset Management Bhd, the fund management arm of Hong Leong Financial Group Bhd (KL:HLFG), on Friday announced the appointment of Chue Kwok Yan as its chief executive officer.</p>


Hong Leong Asset Management names Chue Kwok Yan as CEO

<p>Russian hacker groups briefly disrupted Taiwanese financial platforms, including the stock exchange and lender Mega Financial Holding Co’s website, exposing the vulnerability of the island to foreign cyberattacks.</p>


Russian hackers hit Taiwan's bourse, bank in surprise attack

<p>Boeing's US West Coast factory workers walked off the job early on Friday after overwhelmingly rejecting a contract deal, halting production of the planemaker's strongest-selling jet as it wrestles with severe output delays and heavy debt.</p>


Boeing's US factory workers strike, halting 737 MAX production

<p>A proposed minimum wage increase will raise the Malaysian&nbsp;plantation sector’s operating cost and push the companies to spend more on automation, Public Investment Bank said.</p>


Proposed minimum wage hike could raise palm oil companies' costs, spur automation push

<p>Malaysia’s goal of boosting investments in its growing technology export&nbsp;sector is unlikely to be affected by the results of the US election, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.</p>


Zafrul confident Malaysia's tech boom will withstand US election ripples

<p>KAJANG (Sept 13): Prime Minister Datuk Seri Anwar Ibrahim has&nbsp;instructed on Friday, the relevant authorities,&nbsp;including Islamic religious departments and councils, to immediately investigate and take appropriate action relating to the alleged misconduct by GISB Holdings Sdn Bhd.</p>


PM orders swift action, probe into GISB Holdings over alleged child exploitation

<p>KUALA LUMPUR (Sept 13): Seal Incorporated Bhd’s (KL:SEAL) associate&nbsp;company, MSR Green Energy Sdn Bhd (MSRGE), has accepted a letter of award from Sabah Electricity Sdn Bhd (SESB) for a battery energy construction job worth RM645 million.&nbsp;</p>


Seal Inc associate unit secures RM645m contract from Sabah Electricity

<p>Several companies from China are in negotiations with the authorities on investments in Perlis, especially in the Chuping area near Padang Besar.</p>

<p>The Malaysian Investment Development Board’s (Mida) Kedah and Perlis director Mohd Rushdan Mohd Ghazali said the expected new investments involve the electric vehicle (EV) industry.</p>


Chinese EV companies in talks in invest in Perlis — Mida

<p>The drama over a takeover proposal for Seven &amp; i Holdings Co has gotten investors interested in other Japanese retailers such as AEON Co, boosting their share prices.&nbsp;</p>


Seven & I takeover proposal fuels rally in Japanese retailers like AEON

<p>A rally that’s already added over US$1.3 trillion (RM5.6 trillion) to the S&amp;P 500 this week powered ahead as the latest economic data did little to alter bets on a series of Federal Reserve (Fed) rate cuts.</p>


Wall Street up as S&P 500’s rally tops US$1.3 tril this week

<p>KUALA LUMPUR (Sept 13): Strong demand kept airlines’ load factor above pre-Covid levels as seen in the recently concluded second quarter of 2024 (2Q2024), according to MIDF Research.</p>


Strong demand keeps airlines’ load factor above pre-Covid levels — MIDF

<p>PUTRAJAYA (Sept 13): Civil servants will have an option period of 40 days&nbsp;from Oct 21 to Nov 30 this year&nbsp;to sign up for the new Public Service Remuneration System (SSPA), or remain under the Malaysian Remuneration System (SSM), before the new system takes effect on Dec 1, 2024.</p>


Dept: Civil servants have 40 days from Oct 21 to opt for new remuneration system

<p>Blue-chip companies are spending more money on US dollar bond interest payments, and even Federal Reserve (Fed) rate cuts this year won’t immediately reverse the trend.</p>


Companies’ interest costs to keep rising, even with rate cuts

<p>China suspended the operations of PricewaterhouseCoopers LLP for six months and imposed a record fine over lapses in its auditing of China Evergrande Group.</p>
