<div class=newsTextDataWrapInner>KUALA LUMPUR (Jan 10): Metronic Global Bhd (KL:<a href="/askedge/klse/0043" class="ce-stock" target="_blank">MTRONIC</a>), which provides system integration services and integrated management systems, announced that its subsidiary, MAT JV Sdn Bhd, has been awarded a RM31 million contract by Gamuda M&amp;E Sdn Bhd to supply instrumentation systems for the Sungai Rasau Water Supply Scheme project.</div>

<div class=newsTextDataWrapInner>Under the agreement, MAT JV will undertake the supply, installation, testing, commissioning and maintenance of instrumentation systems. This is part of Metronic's expansion into the field of extra low voltage, industrial and building automation services.</div>

<div class=newsTextDataWrapInner>The Sungai Rasau project, which is expected to be completed by January 2027, will use off-river storage facilities and treat raw water from Sungai Klang, positioning it as Southeast Asia's largest water supply scheme upon completion. The project was scheduled to start in January 2025.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Metronic said it will fund the contract with internal funds, bank borrowings and existing working capital lines.</div>

<div class=newsTextDataWrapInner>The company's shares closed at two sen on Friday, up half a sen or 33.3%, giving Metronic a market capitalisation of RM30.62 million.</div>

Metronic Global Bhd (KL:MTRONIC), which provides system integration services and integrated management systems, announced that its subsidiary, MAT JV Sdn Bhd, has been awarded a RM31 million contract by Gamuda M&E Sdn Bhd to supply instrumentation systems for the Sungai Rasau Water Supply Scheme project.

Metronic bags RM31m job to supply instrumentation systems for Sg Rasau Water Supply Scheme project 

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Baltic Exchange shipping updates: Jan 10, 2025

Canadian Foreign Affairs Minister Melanie Joly said she won’t enter the leadership race to succeed Justin Trudeau as prime minister.

Joly, who has long been seen as a contender for the Liberal Party leadership, will instead focus on her cabinet job ahead of Donald Trump’s inauguration and his threat to impose economically devastating tariffs on Canada.

Canadian Foreign Minister Joly will not enter race to replace Trudeau

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

TNB, Berjaya Corp, Sime Darby Property, Uzma, Metronic, Kumpulan Perangsang Selangor, Key Alliance

US consumers’ long-term inflation expectations jumped to the highest since 2008 on concerns about potential tariffs from the incoming Trump administration.

Americans expect prices will climb at an annual rate of 3.3% over the next five to 10 years, up from the 3% expected last month, according to the University of Michigan’s preliminary January survey released on Friday.

US consumer inflation expectations jump to highest since 2008, says survey

Ho Hup Construction Company Bhd (KL:HOHUP), which has just resolved a winding-up petition in November filed by a diesel fuel supplier, has been served with yet another winding-up petition from a cement supplier due to an alleged unpaid sum of RM2.5 million.

Ho Hup gets another winding-up petition over alleged outstanding payment

Constellation Energy Corp surged after it agreed to acquire closely held Calpine Corp for US$16.4 billion (RM73.83 billion) to create the largest fleet of US power stations.

Shares of Constellation climbed as much as 23% in New York trading. Constellation will pay a mixture of cash and stock, and assume about US$12.7 billion of Calpine’s net debt in the deal, the companies said on Friday in a statement.

Constellation Energy surges after agreeing to buy Calpine for US$16.4 bil

Wall Street's main indexes fell on Friday, with the S&P 500 touching a one-week low after an upbeat jobs report stoked fresh inflation worries and reinforced bets that the Federal Reserve will take a cautious approach to interest rate cuts this year.

Wall Street drops after payrolls data; small-cap index set to confirm correction

US President-elect Donald Trump will not go to jail or pay a fine over his criminal conviction stemming from hush money paid to a porn star, a judge ruled on Friday, but the sentencing will place a judgment of guilt on his record.

Trump spared jail at hush money sentencing, days before inauguration

Police have arrested five individuals, including a senior executive of a local broadcasting company, on suspicion of being involved in a money laundering case.

Inspector-General of Police Tan Sri Razarudin Husain said the four men and one woman aged between 20 and 60, were detained at several locations, including in Penang and Sarawak.

Senior executive of broadcasting company arrested for alleged money laundering

The Ministry of Agriculture and Food Security says there is no directive or decision to reduce the price of paddy, as alleged by a farmers' group. 

In a statement on Friday, the ministry said "there has been no directive or decision regarding reducing the paddy purchase price to date".

Agriculture ministry denies plan to reduce paddy purchase price

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

The family of Thai businessman Vichai Srivaddhanaprabha, who died in a helicopter crash in 2018, has brought a legal action against Italian helicopter manufacturer Leonardo SpA in a London court valued at £2.15 billion (US$2.65 billion).

Family of Thai tycoon brings US$2.7b claim against Leonardo over Leicester City crash

Ho Hup Construction Company Bhd (KL:HOHUP), which has just resolved a winding-up petition in November filed by a diesel fuel supplier, has been served with yet another winding-up petition from a cement supplier due to an alleged unpaid sum of RM2.5 million.

Wall Street's main indexes fell on Friday, with the S&amp;P 500 touching a one-week low after an upbeat jobs report stoked fresh inflation worries and reinforced bets that the Federal Reserve will take a cautious approach to interest rate cuts this year.

US job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labour market ended the year on a solid footing, reinforcing the Federal Reserve's cautious approach to interest rate cuts this year.

US job growth beats expectations in December; unemployment rate falls to 4.1%

US President-elect Donald Trump will not go to jail or pay a fine over his criminal conviction stemming from hush money paid to a porn star, a judge ruled on Friday, but the sentencing will place a judgment of guilt on his record.

KUALA LUMPUR (Jan 10): Sapura Resources Bhd, a property and aviation group, announced several boardroom changes via bourse filings on Friday, including the appointment of Reza Abdul Rahim as its new chief executive officer, with immediate effect.

Just three months earlier on Oct 10, 202...

Sapura Resources names acting MD Reza Abdul Rahim as CEO in boardroom reshuffle

Police have arrested five individuals, including a senior executive of a local broadcasting company, on suspicion of being involved in a money laundering case.

Inspector-General of Police Tan Sri Razarudin Husain said the four men and one woman aged between 20 and 60, were detained at several locations, including in Penang and Sarawak.

Kumpulan Perangsang Selangor Bhd (KL:KPS) on Friday said its subsidiary's appeal to the Inland Revenue Board (IRB) against the RM7.89 million capital gains tax and penalty that was imposed on the company in November last year was accepted.

In a filing on Friday, KPS said the appeal was filed by its wholly owned Bold Approach Sdn Bhd on Dec 17 last year.

IRB drops RM7.9 mil tax claim against Kumpulan Perangsang Selangor

The selection of Port Dickson as one of the Asean Summit meeting locations is expected to significantly boost the district’s tourism by promoting its beauty to Southeast Asian countries.

Port Dickson Municipal Council (MPPD) president Hasnor Abd Hamid said the council is fully committed to ensuring smooth preparations for the meeting to create a successful event and leave a lasting positive impression on the delegates.

Port Dickson set to gain tourism spotlight as an Asean Summit venue

After more than a decade of development, hype and pent-up demand, Jeff Bezos’ aerospace venture Blue Origin will at long last attempt to put a rocket into orbit.

New Glenn, originally intended to launch as early as 2020, is slated to fly on Sunday out of Cape Canaveral, Florida, during a nearly four-hour launch window that begins at 1am&nbsp;local time.

Jeff Bezos’ Blue Origin to debut new rocket in SpaceX challenge

The Ministry of Agriculture and Food Security says there is no directive or decision to reduce the price of paddy, as alleged by a farmers' group.&nbsp;

In a statement on Friday, the ministry said "there has been no directive or decision regarding reducing the paddy purchase price to date".

The German government is in ongoing discussions about whether to delete its presence on the X platform due to concerns over its algorithms, a spokesperson said on Friday.

Germany may yet quit X on concerns over algorithms — Reuters

US consumers’ long-term inflation expectations jumped to the highest since 2008 on concerns about potential tariffs from the incoming Trump administration.

Americans expect prices will climb at an annual rate of 3.3% over the next five to 10 years, up from the 3% expected last month, according to the University of Michigan’s preliminary January survey released on Friday.

Italy would have full control of its data under any potential deal struck with Elon Musk's Starlink for secure satellite communications, an Italian representative for the billionaire's aerospace businesses said.

Italy will fully control data in any Starlink deal, says Musk adviser 

The US will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported US Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday.

US to impose sanctions on Russian oil fleet, document shows

The strength of the US economic recovery post-Covid and a quest for safe-haven investments helped boost US dominance of global financial flows, while manufacturing incentives led to a surge in foreign direct investment, the White House said on Friday.

Strong economy, safe asset demand boosted US dominance in capital flows, White House says

Nato is increasing its surveillance operations in the Baltic Sea region with two ships deployed to the area following suspected sabotage of undersea cables between Finland and Estonia.

Nato to deploy two ships to guard Baltic Sea infrastructure

Walgreens Boots Alliance Inc reported quarterly results that surpassed Wall Street’s expectations, easing pressure on the pharmacy chain as it mulls strategic options including a sale.

Walgreens sales at US pharmacies beat expectations

Canadian Foreign Affairs Minister Melanie Joly said she won’t enter the leadership race to succeed Justin Trudeau as prime minister.

Joly, who has long been seen as a contender for the Liberal Party leadership, will instead focus on her cabinet job ahead of Donald Trump’s inauguration and his threat to impose economically devastating tariffs on Canada.