<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 30): TCS Group Holdings Bhd (KL:<a href="/askedge/klse/0221" class="ce-stock" target="_blank">TCS</a>) has secured a contract worth RM116.58 million from a subsidiary of S P Setia Bhd (KL:<a href="/askedge/klse/8664" class="ce-stock" target="_blank">SPSETIA</a>).</p></div>

<div class=newsTextDataWrapInner><p>It involves building and related infrastructure works for 561 units of affordable housing as part of the Setia Bayuemas project in Klang, Selangor.</p></div>

<div class=newsTextDataWrapInner><p>The building and infrastructure construction company said its wholly owned subsidiary, TCS Construction Sdn Bhd, had accepted the letter of award from I &amp; P Kota Bayuemas Sdn Bhd for the project, according to its filing with Bursa Malaysia on Monday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The construction period is 28 months, commencing in October 2024, with expected completion by February 2027.</p></div>

<div class=newsTextDataWrapInner><p>TCS managing director Datuk Tee Chai Seng said the contract win would further strengthen the group’s order book and provide earnings visibility for the coming financial years.</p></div>

<div class=newsTextDataWrapInner><p>“The overall outlook of the construction sector is currently more favourable as the raw material prices of goods have stabilised,” he said in a statement, noting that the project rollout from the public and private sectors is increasing, which bodes well for the construction industry.</p></div>

<div class=newsTextDataWrapInner><p>Shares in TCS closed half a sen or 3.45% higher at 15 sen on Monday, giving the company a market capitalisation of RM90.09 million.</p></div>


TCS Group Holdings Bhd (KL:TCS) has secured a contract worth RM116.58 million from a subsidiary of S P Setia Bhd (KL:SPSETIA).

It involves building and related infrastructure works for 561 units of affordable housing as part of the Setia Bayuemas project in Klang, Selangor.

TCS secures RM117 mil construction contract from S P Setia

Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced on Thursday that it had received RM69.6 million as compensation for the land.

The sum was received from the Home Affairs Ministry, which is force-buying the plot from DFIL's wholly-owned Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd, on Monday (Nov 18).  DFIL itself is 75.53% owned by Atlan.

Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

After two years, property developer Maxim Global Bhd (KL:MAXIM) has decided not to pursue further action against the revocation of plantation concession licences issued by Indonesia's Ministry of Environment and Forestry in January 2022 in relation to assets owned by its 90%-owned subsidiaries — PT Trimegah Karya Utama (PT TKU) and PT Manunggal Sukses Mandiri (PT MSM) — in Papua, Indonesia.

Maxim Global gives up plantation concession permits in Indonesia

Convenience store chain operator 7-Eleven Malaysia Holdings Bhd (KL:SEM) said on Thursday its net profit fell 24% in the third quarter from a year earlier as operating expenses grew faster than revenue.

Net profit for the three months ended Sept 30, 2024 (3QFY2024) was RM10.93 million, according to an exchange filing. Operating expenses rose 8.6% from store and logistics costs due to longer hours and expanded workforce with new outlets. Revenue for the quarter rose 5.5% to RM744.05 million.

7-Eleven 3Q net profit down 24% as expenses rise faster than revenue, expects better 4Q

The minimum wage in Selangor will be standardised at RM1,700 next year, aligning with implementation at the federal level, said State Human Resources and Poverty Eradication Committee chairman V Papparaidu.

Selangor to standardise RM1,700 minimum wage 

Oil company Petron Malaysia Refining & Marketing Bhd (KL:PETRONM) suffered a 94.3% drop in its third-quarter net profit, on lower sales volume due to a correction in domestic fuel demand following the implementation of the retail diesel targeted subsidy in June this year.

Petron Malaysia's 3Q net profit down 94% on lower sales volume, oil prices

Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit (IC) product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc.

Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS

Oil and gas services provider Dayang Enterprise Holdings Bhd (KL:DAYANG) said it will continue to deliver outstanding performance after posting a record high net profit for its third quarter, which surged 76.67% year-on-year.

Dayang says will continue delivering outstanding performance after 3Q profit hits record

DRB-Hicom Bhd (KL:DRBHCOM) saw a net loss of RM5.29 million in the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM70.8 million in the same quarter last year.

DRB-Hicom records net loss in 3Q amid automotive and postal sector weakness

AEON Co (M) Bhd (KL:AEON), a general merchandise store and supermarket chain operator, saw its net profit rise 35.4% to RM18.79 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM13.88 million a year earlier on higher revenue.

AEON Co 3Q net profit up 35% with growth across all segments

The General Secretary of the Central Committee of the Communist Party of Vietnam To Lam announced the elevation of bilateral relations between Malaysia and Vietnam to a comprehensive strategic partnership.

Vietnam, Malaysia elevate bilateral relations to comprehensive strategic partnership

<p>(Nov 21):&nbsp;Dyson Ltd&nbsp;is dialling back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.</p>


Dyson dials back Malaysian hairdryer ops, redeploys staff in Johor — Bloomberg

<p>Petronas Chemicals Group Bhd (KL:PCHEM) may be in for tougher days ahead following a massive paper loss that sent the company into the red for the first time ever and prompted analysts to cut their forecasts.</p>


Petronas Chemicals' outlook gloomy, analysts warn amid mounting joint venture losses

<p>Indian billionaire Gautam Adani has been indicted by US prosecutors for his alleged role in a US$265 million scheme to bribe Indian officials, plunging his conglomerate deep into crisis for the second time in two years.</p>


Indian tycoon Adani charged in US over US$265m bribery scheme, dismisses allegations as ‘baseless’ 

<p>KUALA LUMPUR (Nov 21): Malaysia’s central bank made two unusual changes to the government bond auction calendar by rescheduling a tender set for this month, and scrapping another pencilled in for December.</p>


BNM reschedules govt bond auction, scraps one issue in unusual move

<p>KUALA LUMPUR (Nov 21): Shares of RCE Capital Bhd (KL:RCECAP) fell on Thursday after the company, which mainly provides financing to civil servants, reported weaker than expected quarterly results.</p>


RCE Capital shares fall on Thursday after weaker than expected results

<p>IOI Properties Group Bhd (KL:IOIPG) has officially relaunched the Putrajaya Marriott Hotel in IOI Resort City last week after completing a RM100 million renovation.</p>

<p>Sitting on 6.5 acres of land, the five-star Putrajaya Marriott Hotel is managed by IOI Properties and comprises 487 guest rooms, including 35 exclusive suites. The renovations took place from Feb 2023 till Nov 2024 and were carried out in phases. The massive undertaking focused on the refitting and renewal of its guest rooms, lobby, restaurants and private villa.</p>


IOI Properties relaunches Putrajaya Marriott Hotel after RM100m renovation

<p>Nvidia forecast its slowest revenue growth in seven quarters on Wednesday, failing to meet lofty expectations of some investors who have made it the world's most valuable firm.</p>


Nvidia's AI chip demand still booming but slowing sales growth worries investors

<p>Starbucks Corp is exploring options for its Chinese operations including the possibility of selling a stake in the business, according to people with knowledge of the matter.</p>


Starbucks said to consider selling stake in Chinese business

<p>Starbucks Corp reduced its US retail workforce by 8% in its most recent fiscal year, even as the coffee chain added hundreds of new locations.&nbsp;</p>


Starbucks shrank retail staff 8% despite hundreds of new stores

<p>China's Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to US restrictions, said two people familiar with the matter.</p>


Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs

<p>KUALA LUMPUR (Nov 21): Mah Sing Group Bhd (KL:MAHSING) has unveiled the sales gallery of its RM850-million M Aspira serviced-apartment project in Taman Desa, Kuala Lumpur on Wednesday (Nov 20).&nbsp;</p>


Mah Sing unveils M Aspira sales gallery in Taman Desa

<p>PARAMARIBO (Nov 20): Suriname's state-run oil company Staatsolie said on Wednesday that US oil giant ExxonMobil has withdrawn from its offshore block 52, and block operator Petronas Suriname E&amp;P will take over its 50% stake.</p>


Suriname’s Staatsolie says ExxonMobil has withdrawn from offshore block, Petronas’ unit to take over 50% stake

<p>Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.</p>


Sime Darby Property seeks more assets generating recurring income

<p>Shares of Adani Group companies lost about US$28 billion (RM125.3 billion) in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.</p>


India's Adani Group sees US$30b in value wiped off after US indictments 

<p>Northern Solar Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.</p>

<p>The solar energy firm said its IPO scheduled to take place in February 2025, entails a public issue of 67.3 million new shares and the sale of 35.6 million existing shares.</p>

<p>All in all, the listing would offer investors up to a 26% stake in the company.</p>


Northern Solar Holdings signs underwriting agreement with M&A Securities

<p>The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).</p>


Bestinet contract extension for foreign worker recruitment system could cost govt minimum of RM3.2b, says PAC

<p>The Biden administration told Congress it plans to cancel US$4.65 billion (RM20.8 billion) in debt owed by Ukraine, according to a letter obtained by <em>Bloomberg</em> News, the latest in a series of moves meant to bolster support for Kyiv before President-elect Donald Trump takes office.</p>


Biden administration seeks to cancel US$4.6b of Ukraine’s debt

<p>Bitcoin hit US$95,000 (RM425,030) for the first time as the digital-asset sector moves to cement its influence with Donald Trump by pushing for a new White House post dedicated to cryptocurrency policy.</p>


Bitcoin climbs closer to US$100,000 on Trump’s support for crypto

<p>KUALA LUMPUR (Nov 21): Analysts have raised their earnings forecasts and target prices on Hap Seng Plantations Holdings Bhd (KL:HSPLANT), after the plantation group outperformed market expectations in its latest quarterly results.</p>


Analysts raise forecasts after Hap Seng Plantations’ quarterly results beat expectations

<p>KUALA LUMPUR (Nov 21): E-services provider MyEG Services Bhd’s (KL:MYEG) earnings are expected to continue to be boosted by contributions from its Zetrix-related applications, prompting an earnings upgrade from at least one analyst.&nbsp;</p>
