<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 18): Nestcon Bhd’s (KL:<a href="/askedge/klse/0235" class="ce-stock" target="_blank">NESTCON</a>) wholly owned subsidiary Nestcon Infra Sdn Bhd has received a letter of award for rock blasting and general works required for road and drainage systems.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Monday, the construction outfit stated the works awarded are related to a large-scale mixed-use development in Damansara Perdana, Selangor.</p></div>

<div class=newsTextDataWrapInner><p>The value of the contract is RM31.6 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The development also includes affordable homes, business spaces, a hotel, a private school, and other facilities, located on multiple parcels of land.</p></div>

<div class=newsTextDataWrapInner><p>The project is slated to commence last week on Nov 15 and will take 12 months to complete.</p></div>

<div class=newsTextDataWrapInner><p>Upon completion, a 27-month defects liability period will apply, during which Nestcon Infra will remain responsible for addressing any issues with the work.</p></div>

<div class=newsTextDataWrapInner><p>The job is expected to contribute positively to Nestcon’s financial performance, including its net assets per share, earnings per share, and gearing throughout the contract’s duration, said Nestcon in the filing.</p></div>

<div class=newsTextDataWrapInner><p>At the close of trade, Nestcon’s share price increased one sen to 39 sen, giving it a market capitalisation of RM278.73 million.</p></div>


Nestcon Bhd’s (KL:NESTCON) wholly owned subsidiary Nestcon Infra Sdn Bhd has received a letter of award for rock blasting and general works required for road and drainage systems.

Nestcon secures RM32 mil contract for mixed-use development in Damansara Perdana

The US is exerting "unacceptable pressure" on Greenland, Denmark's Prime Minister Mette Frederiksen said on Tuesday, ahead of an unsolicited visit by a high-profile US delegation to the semi-autonomous Danish territory this week.

US visit to Greenland is unacceptable, Danish prime minister says

Executives from the world's top commodity trading houses expect a well-supplied oil market this year, with concerns remaining over global demand growth.

Top traders see oil market well supplied, soft prices this year

Canadian Prime Minister Mark Carney said his top cabinet ministers are in contact with White House officials and want to have “serious” negotiations about trade, as US trading partners brace for President Donald Trump’s next barrage of tariffs.

Carney says Canada wants to ‘get serious’ with Trump on trade talks

The Nvidia AI chip fraud case, which is allegedly linked to Malaysia, is still under investigation, and the Ministry of Investment, Trade and Industry (Miti) is fully cooperating with the investigation team, said its minister Tengku Datuk Seri Zafrul Abdul Aziz.

Nvidia AI chip fraud case under probe, Miti continues to cooperate with investigation team, says Zafrul

Ratings agency Moody's said on Tuesday that the US' fiscal strength is on track for a continued multi-year decline as budget deficits widen and debt becomes less affordable.

Moody's says US fiscal strength on course for continued decline 

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

Velesto, Astro, Binastra, MCE Holdings, Axiata, Cape EMS, Malton, Press Metal, Capital A, KNM, Ge-Shen, Tex Cycle, K Seng Seng

Europe’s dependency on the US and China for computer hardware and cloud services puts its car industry at risk as vehicles become reliant on artificial intelligence (AI), a Mercedes-Benz Group AG executive said.

Europe’s carmakers too reliant on US, China tech, Mercedes says

Prime Minister Datuk Seri Anwar Ibrahim has given the green light and opportunity to Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz to take over as the new President of the Badminton Association of Malaysia (BAM) for the 2025-2029 term.

Anwar gives Zafrul green light to helm Badminton Association of Malaysia

British police said a fire which caused Heathrow Airport to close for 18 hours last week was no longer being treated as a potentially criminal matter.

Heathrow Airport fire not a criminal matter, UK police say

EToro Group Ltd filed for an initial public offering, disclosing revenue and net income that soared last year.

EToro files for IPO showing commissions jumped 46% last year 

<p>SINGAPORE (March 25):&nbsp;A Singapore luxury mansion has been purchased at a record price per square foot by a scion of the family which backs one of Malaysia’s largest banks.</p>


Public Bank heir buys Singapore mansion for record US$70m — Bloomberg

<p>The Indonesian rupiah plummeted to its weakest since the Asian Financial Crisis nearly three decades ago on Tuesday, pressured by concerns about the fiscal health of Southeast Asia's largest economy, but managed to recoup some lost ground after intervention by the central bank.</p>


Indonesia's rupiah hits lowest in nearly 27 years, stocks regroup

<p>NEWS reports about a potential fraud case in Singapore related to the alleged movement of Nvidia chips have triggered a selldown of Penang-based electronics manufacturing services (EMS) provider Nationgate Holdings Bhd (KL:NATGATE), the sole contract manufacturer in Southeast Asia for US chip gia...

Can Nationgate keep going, with or without Nvidia?

<p>AirAsia Aviation Group Ltd, the aviation business of Capital A Bhd (KL:CAPITALA), said on Tuesday that it is in the final stages of securing up to RM1 billion in debt financing from an undisclosed domestic bank to partly refinance its US dollar-denominated debt and for other corporate purposes.</p>


Capital A's AirAsia Aviation Group in final talks for RM1b funding to refinance US dollar loans, says deputy CEO

<p>The National Cyber Security Agency (Nacsa) and Malaysia Airports Holdings Bhd (MAHB) in a joint release on Tuesday confirmed that the Kuala Lumpur International Airport’s (KLIA) computer systems were attacked on March 23, but assured that its operations are not affected.</p>


KLIA computer systems attacked on March 23, operations unaffected — Nacsa

<p>Three Bursa Malaysia-listed companies that are linked to businessman Datuk Keh Chuan Seng have assured investors that his resignation will not impact their business operations or strategic plans, despite recent heavy selling pressure on their shares.</p>


Three Keh Chuan Seng-linked firms assure business stability amid selling pressure

<p>Velesto Energy Bhd (KL:VELESTO) has announced a RM1.2 billion share capital reduction aimed at enhancing its capital structure and preparing for potential future distributions to shareholders.</p>


Velesto Energy proposes RM1.2b capital reduction

<p>UK-based investment company Aberdeen Group plc, formerly known as Abrdn plc, has become a substantial shareholder in Eastern &amp; Oriental Bhd (KL:E&amp;O) after increasing its stake to 5.047%, representing 125.66 million shares.</p>


Aberdeen emerges as substantial shareholder in Eastern & Oriental

<p>Astro Malaysia Holdings Bhd (KL:ASTRO) closed its financial year ended Jan 31, 2025 (FY2025) with a threefold increase in net profit despite a drop in the last quarter.</p>


Astro closes FY2025 with higher full-year net profit despite 4Q drop

<p>HSBC Holdings plc expects to double down on investment banking operations in Asia and the Middle East after exiting key business in Europe and the US, chief executive officer Georges Elhedery said.</p>


HSBC CEO targets Asia, Middle East growth after revamp

<p>Nearly four years after Cahya Mata Sarawak Bhd (KL:CMSB) conducted an independent review of certain projects and investments that cleared current deputy chairman Datuk Seri Mahmud Abu Bekir Taib and former chief information officer Karl Vink @ Khalid Abdullah of any conflict of interest, the two are once again in the spotlight. This time, they are named in a lawsuit filed by the company.</p>


Cahya Mata Sarawak suit: Abu Bekir Taib-Karl Vink connection back in the spotlight

<p>If you’re a Malaysian Muslim saver, March is that time of year when one number matters more than most: Tabung Haji’s (TH) dividend. And this year, the number is 3.25% — the highest in seven years.</p>


The bigger picture behind Tabung Haji’s dividend announcement

<p>KUALA LUMPUR (March 25): Cape EMS Bhd (KL:CEB), which reported its first annual loss in the financial year 2024, has partnered with Taiwan’s Aerospace Industrial Development Corporation (AIDC) to enter the aerospace parts manufacturing industry and expand its renewable energy business.</p>

<p>...

Cape EMS teams up with Taiwanese aerospace firm to enter into aerospace parts, expand renewable energy

<h2>Notable filings</h2>

<p>Over the week of March 3 to 7, notable filings on shareholding changes of Bursa Malaysia-listed companies included those at banking outfit&nbsp;<strong>RHB Bank Bhd</strong> (KL:RHBBANK).&nbsp;</p>

<p>Pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP ceas...

Insider Moves: RHB Bank Bhd, Cape EMS Bhd, MMAG Holdings Bhd, CTOS Digital Bhd, KPJ Healthcare Bhd 

<p>Shares of Master-Pack Group Bhd (KL:MASTER), a paper packaging manufacturer, rallied to a new record high on Tuesday in highly active trade.</p>


Master-Pack extends rally to new record high in active trade

<p>AirAsia Aviation Group Ltd, the short-haul aviation business of Capital A Bhd (KL:CAPITALA), is set to introduce more than 30 new routes in 2025 as it seeks to achieve full network capacity and frequency recovery to pre-pandemic levels by the end of the year.</p>


AirAsia targets full pre-pandemic capacity by end-2025, to launch over 30 new routes

<p>The Nvidia AI chip fraud case, which is allegedly linked to Malaysia, is still under investigation, and the Ministry of Investment, Trade and Industry (Miti) is fully cooperating with the investigation team, said its minister Tengku Datuk Seri Zafrul Abdul Aziz.</p>


<p>Oil and services firm KNM Group Bhd (KL:KNM), whose share price has been trading at its lowest over the last two weeks, said its indirect wholly-owned subsidiary is being sued by MBSB Bank Bhd for allegedly defaulting on a RM116.13 million Islamic financing facility.</p>


MBSB Bank demands to auction KNM’s land in Kuantan over RM116m debt 

<p>KUALA LUMPUR (March 25): The High Court on Tuesday recorded a consent judgement between Synergy Promenade Sdn Bhd and former Federal Land Development Authority (Felda) chairman Tan Sri Shahril Abdul Samad in a defamation suit filed by Synergy Promenade in 2018 over the KL Vertical City project (KLVC project).</p>


High Court records consent judgement between Synergy Promenade and Shahrir over defamation regarding KL Vertical City project

<p>Prudential Assurance Malaysia Bhd issued a statement on Tuesday to reaffirm its commitment to Bank Negara Malaysia’s (BNM) interim measures that were announced last December to stagger the increase in medical insurance premiums, after several lawmakers demanded an explanation from the insurer about the planned premium hike for its medical health plans next month.</p>
