<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 8): Construction and property development outfit Fajarbaru Builder Group Bhd (KL:<a href="/askedge/klse/7047" class="ce-stock" target="_blank">FAJAR</a>) has pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million. No reason was given.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia on Friday, Fajarbaru said Perbadanan Putrajaya has accepted its wholly owned subsidiary Fajarbaru Land (M) Sdn Bhd's withdrawal as the developer for the proposed development.</p></div>

<div class=newsTextDataWrapInner><p>Fajarbaru Land had on Jan 24 this year accepted a letter of offer from Perbadanan Putrajaya in respect of the appointment of Fajarbaru Land as the developer for Residensi Cemara, comprising 480 units of Residensi Madani and 320 units of Residensi Wilayah, with a development period of three years. These units are part of the government-sponsored housing programme.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The proposed development was expected to contribute positively to Fajarbaru's earnings for the financial years ending June 30, 2025 onwards.</p></div>

<div class=newsTextDataWrapInner><p>Fajarbaru shares closed down 0.5 sen or 1.28% at 38.5 sen on Friday, giving it a market capitalisation of RM283.1 million. The stock has risen 32.76% so far this year.</p></div>

<div class=newsTextDataWrapInner><p><em>See also:<br />
<a href="https://theedgemalaysia.com/node/698528" target="_blank">Fajarbaru appointed to develop RM192 mil affordable housing project in Putrajaya</a></em></p></div>


Construction and property development outfit Fajarbaru Builder Group Bhd (KL:FAJAR) has pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million.

Fajarbaru pulls out of RM192m affordable housing project in Putrajaya

(November 28) : The Federal Reserve’s preferred measure of underlying inflation accelerated in October from a year ago, helping explain policymakers’ more cautious approach to lowering interest rates.

The so-called core personal consumption expenditures price index, which stri...

Fed’s favoured inflation gauge picks up, backs cautious approach

Pending sales of US homes unexpectedly rose to a seven-month high in October as a brief drop in mortgage rates lured buyers.

A National Association of Realtors gauge of contract signings increased 2% to 77.4 last month.

US pending home sales increase to highest level since March

China is continuing to buy US soybeans, confounding some traders who had expected the flow of shipments to slow down ahead of a potential trade war between both countries.

A Chinese state buyer picked up at least eight cargoes last week to build national reserves, according to traders familiar with the sales.

China keeps buying US soy in surprise move after Trump’s win

A selloff in giant technology companies dragged down stocks, while the latest economic data gave support to the Federal Reserve’s cautious stance on rate cuts.

Equities halted a seven-day rally that drove the S&P 500 to all-time highs

Stocks halt record-breaking rally as tech gets hit

MEXICO CITY (Nov 28): Mexican President Claudia Sheinbaum said on Wednesday Mexico would retaliate if U.S. President-elect Donald Trump followed through with his proposed 25% across-the-board tariff, a move her government warned could kill 400,000 U.S. jobs.

"If there are U.S. tariffs, ...

Mexico warns Trump tariffs would kill 400,000 US jobs, threatens retaliation

A total of 11 electricity substations have been shut down as of Wednesday night due to the increasingly worrying flood situation around Kota Bharu, Machang and Tanah Merah.

TNB shuts down 11 substations in Kelantan as floods worsen; three district offices shutter in Pasir Mas

Communications Minister Fahmi Fadzil will meet with the management of three news portals on Thursday to address the issue of unpaid salaries for media personnel.

Fahmi says will address salary arrears with news portals on Thursday

The flood situation in Kelantan and Terengganu has worsened, with the number of evacuees rising, and additional temporary evacuation centres being opened, as of 8pm.

Number of flood evacuees in Kelantan, Terengganu on the up

Citaglobal Bhd (KL:CITAGLB) has firmed up its collaboration with electric vehicle maker Tree Technologies Sdn Bhd to develop an industrial park with green elements in Pahang. It also proposed a bonus issue of up to 88.07 million free warrants.

Citaglobal firms up collaboration to develop eco-friendly industrial park, proposes one-for-five bonus warrants

Here is a brief recap of some corporate announcements that made the news on Wednesday.

AMMB, Inari, FGV, PetGas, TIME dotCOM, IJM, Chin Hin, Media Prima, Hengyuan, Kerjaya Prospek, BHIC, Tropicana Corp

<p>The suspended group CEO of TMC Life Sciences Bhd (KL:TMCLIFE) has pushed back against allegations of misconduct levied upon her, alleging that the healthcare provider is attempting to “pin the blame” on her over certain contract decisions.</p>


Suspended CEO says TMC Life Sciences trying to ‘pin blame’ on her over certain contract issues

<p>Sarawak’s state government has become the largest shareholder of banking group Affin Bank Bhd, after the completion of a deal with Lembaga Tabung Angkatan Tentera (LTAT) for the acquisition of 165.05 million shares or 6.87% in the bank.</p>


Sarawak is now Affin's largest shareholder with 31.25% stake

<p>In October 2018, former prime minister Datuk Seri Najib Razak and former&nbsp;Treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah were brought to court to face six criminal charges of criminal breach of trust (CBT) amounting to RM6.6 billion in government funds involving payments to the International Petroleum Investment Company (IPIC).&nbsp;</p>


Prosecution owes public duty to recharge Najib and Irwan — Hanipa Maidin

<p>Chin Hin Group Bhd (KL:CHINHIN) more than doubled its net profit for the third quarter thanks to revenue from newly-acquired subsidiaries that significantly boosted its overall gross margin.</p>


Chin Hin more than doubles 3Q net profit with newly-acquired subsidiaries

<p>Inari Amertron Bhd (KL:INARI) reported a 71.6% drop in net profit for the July-September period, dragged by a foreign exchange (forex) loss of RM53.3 million, following a steep drop in the US dollar against the ringgit. &nbsp;</p>


Inari's 1Q earnings drop to lowest in almost nine years as forex loss weighs

<p>Here is a brief recap of some corporate announcements that made the news on Wednesday.</p>


<p>Investors snapped up shares of fertiliser firm Cropmate Bhd at its initial public offering (IPO) with the public tranche oversubscribed nearly 85 times.</p>

<p>Demand totalled 3.17 billion shares valued at RM633.81 million for 36.9 million new shares available for subscription, the company said in an exchange filing.</p>


Cropmate IPO shares oversubscribed nearly 85 times, set for Dec 5 listing on ACE Market

<p>IJM Corp Bhd’s (KL:IJM) net profit for the second quarter ended Sept 30, 2024 (2QFY2025) fell 20.8% to RM74.21 million from RM93.69 million a year earlier, due to higher unrealised foreign exchange (forex) losses.</p>


IJM Corp expects stronger FY2025, despite 21% drop in 2Q net profit

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>TIME dotCom Bhd (KL:TIMECOM) has reported a 44.93% decline in third-quarter net profit to RM58.71 million, from RM106.60 million a year earlier, due mainly to a foreign exchange (forex) loss.</p>


TIME dotCom reports 45% drop in 3Q net profit on forex loss

<p>Coffee futures extended their rampant rally to the highest in more than four decades in New York on global supply worries, threatening to further raise costs for consumers.</p>


Coffee gets even pricier as Arabica jumps to highest since 1977

<p>Lotte Group, the conglomerate involved in everything from candy making to operating shopping malls, plans to pledge the tallest building in South Korea as collateral to the banking sector to ease concerns over liquidity at its battery materials unit.</p>


Conglomerate Lotte to pledge Seoul skyscraper as debt security

<p>Genting Plantations Bhd’s (KL:GENP) third quarter net profit rose a marginal 3.15% from the same quarter a year earlier despite lower revenue, thanks to higher other income due to foreign currency fluctuations on the group’s US dollar denominated cash reserves and borrowings.</p>


Genting Plantations posts marginally higher 3Q profit, lifted by favourable forex impact

<p>Hengyuan Refining Co Bhd (KL:HENGYUAN), which is involved in the refining and manufacturing of petroleum products, dropped into the red in its third quarter this year, no thanks to a further weakening of its cracking or refining margin, and high stockholding losses amid unfavourable crude oil price movements.&nbsp;</p>


Hengyuan drops into the red in 3Q despite revenue jump as cracking margin weakens

<p>The S&amp;P 500 and the Nasdaq edged lower on Wednesday, weighed by a decline in technology stocks, while investors focused on the Federal Reserve's next move following an in-line inflation reading.</p>


Tech stocks drag on S&P 500, Nasdaq after inflation data

<p>RGB International Bhd (KL:RGB) declared a special dividend on top of an interim dividend, despite a 26.85% drop in the integrated gaming solutions provider’s third quarter net profit on lower sales of electronic gaming machines (EGMs).</p>


RGB declares 1.2 sen special dividend despite 27% drop in 3Q profit

<p>KUALA LUMPUR (Nov 27): Boustead Heavy Industries Corp (KL:BHIC) is selling its 51% stake in Contraves Advanced Devices Sdn Bhd (CAD) to its joint venture partner in the firm, German arms maker Rheinmetall AG for RM54 million cash.</p>

<p>The disposal of the stake will result in a loss of RM14....

BHIC to hive off 51% stake in former LCS subcontractor to Rheinmetall, recognising RM15 mil loss on disposal

<p>MEXICO CITY (Nov 28): Mexican President Claudia Sheinbaum said on Wednesday Mexico would retaliate if U.S. President-elect Donald Trump followed through with his proposed 25% across-the-board tariff, a move her government warned could kill 400,000 U.S. jobs.</p>

<p>"If there are U.S. tariffs, ...

<p>Media Prima Bhd (KL:MEDIA) posted an 86.77% drop in its first quarter net profit from the corresponding quarter a year ago as revenue fell, coupled with a notable decrease in its other operating income.</p>


Media Prima reports 87% drop in quarterly profit as revenue falls

<p>China is continuing to buy US soybeans, confounding some traders who had expected the flow of shipments to slow down ahead of a potential trade war between both countries.</p>

<p>A Chinese state buyer picked up at least eight cargoes last week to build national reserves, according to traders familiar with the sales.</p>
