<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 14): Construction and engineering services firm Epicon Bhd (KL:<a href="/askedge/klse/4847" class="ce-stock" target="_blank">EPICON</a>) said its 70%-owned subsidiary has accepted a RM47.38 million subcontract from IJM Construction Sdn Bhd for the supply of concrete support beam for the New Pantai Expressway (NPE) extension.</p></div>

<div class=newsTextDataWrapInner><p>IJM Construction is a wholly owned subsidiary of IJM Corp Bhd (KL:<a href="/askedge/klse/3336" class="ce-stock" target="_blank">IJM</a>).</p></div>

<div class=newsTextDataWrapInner><p>The project, secured by Concrete Empire Sdn Bhd, is expected to commence in mid-November and be completed by end-November 2028, said Epicon in a bourse filing on Wednesday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The NPE extension project, better known as NPE2, comprises approximately 15.9km of elevated highway and ramps connecting the Pantai Toll Plaza to Jalan Istana via Jalan Syed Putra and will include a new toll plaza. It is slated for completion by 2029.</p></div>

<div class=newsTextDataWrapInner><p>In Malaysia, IJM owns the concessions for several highways: NPE, Sungai Besi Expressway (Besraya), Kajang-Seremban Highway (LEKAS) and West Coast Expressway (WCE).</p></div>

<div class=newsTextDataWrapInner><p>Epicon, formerly known as Konsortium Transnational Bhd, saw its share price close unchanged at 18.5 sen on Wednesday, with a market capitalisation of RM116 million. The stock has gained about five sen year to date.</p></div>


Construction and engineering services firm Epicon Bhd (KL:EPICON) said its 70%-owned subsidiary has accepted a RM47.38 million subcontract from IJM Construction Sdn Bhd for the supply of concrete support beam for the New Pantai Expressway (NPE) extension.

Epicon unit secures RM47 mil subcontract for NPE highway extension

The government is developing a sovereign artificial intelligence (AI) cloud to ensure the country’s classified information remains secure and beyond the reach of foreign laws and policies, said Communications Minister Datuk Seri Fahmi Fadzil.

Sovereign AI cloud crucial to protecting country's digital sovereignty — Fahmi

Discussions on the list of Pakatan Harapan (PH) candidates for the Melaka state election are over 95% complete, said PH Communications director Datuk Seri Fahmi Fadzil.

Fahmi, who is also Communications Minister, said PH has scheduled its candidate announcement for Oct 24, with the venue to be confirmed later.

Melaka polls: PH candidate list discussions more than 95% complete — Fahmi

Chinese automakers looking to expand production capacity in Europe have ruled out Italy because of a lack of suitable factories, Italian industry minister Adolfo Urso said on Wednesday.

Chinese producers are looking to establish manufacturing plants inside the European Union as Brussels works on rules that will set minimum local content limits for electric vehicles sold in the bloc.

No auto plants available in Italy for Chinese purchase, Italian minister says

A total of 27 data centre projects with an estimated investment of RM225.97 billion have been approved under the data centre task force (DCTF) up to July 2026, according to the Digital Ministry.

Twenty-seven data centre projects worth RM226b greenlit by task force — Digital Ministry

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

EcoSys, Gamuda, Epicon, AWC, JAG, Genting, Infomina, Bus Cap, IHH Healthcare

EcoSys (Malaysia) Bhd's (KL:ECOSYS)  shares almost tripled in value on its first day of listing on the ACE Market amid strong demand for a piece of the semiconductor services firm.

EcoSys shares almost triple in value on ACE Market debut

Wall Street's main indices edged lower on Wednesday after a hotter-than-expected inflation report boosted bets of an interest rate hike this month, while investors parsed more big bank earnings.

Wall Street slides as hot CPI data fuels rate-hike bets; chips, banks weigh

Yields on US Treasuries climbed across durations on Wednesday after consumer prices accelerated in September ramping up expectations that the Federal Reserve will have to increase interest rates to try to tame stubborn inflation.

US yields jump as hot consumer inflation boosts rate hike bets

Lembaga Tabung Haji is proposing amendments to the Tabung Haji Act 1995 to bar active politicians from its board.

Tabung Haji mulls legislative changes to ban politicians from board     

A week after a fellow backbender urged the federal government to reject any airline bailout requests, Putatan MP Datuk Shahelmey Yahya called on Putrajaya to step in to help address AirAsia Group Bhd's (KL:AAGB) financial woes.

Sabah MP urges govt intervention over AirAsia woes just days after fellow MP warned Putrajaya against bailouts

<p>Paper losses on Bank of America Corp’s bond portfolio rose past US$100 billion (RM408.2 billion), bringing the spotlight back on a pain point that was at the heart of the 2023 regional-banking crisis.</p>


BofA’s bond portfolio surpasses US$100 bil in paper losses

<p>United Malacca Bhd (KL:UMCCA) said on Wednesday that&nbsp; its executive director Datuk Seri Tee Lip Sin has died at the age of 55.</p>


United Malacca executive director Tee Lip Sin passes away at 55

<p>The High Court here on Wednesday refused to grant former prime minister Datuk Seri Najib Razak a stay of his jail sentence in the 1Malaysia Development Bhd (1MDB) case.</p>


Najib fails to pause 15-year jail term, fine in 1MDB case

<p>Operator of pharmacy chains Big Caring Group Bhd (BCG) has signed a retail underwriting agreement with Maybank Investment Bank Bhd, RHB Investment Bank Bhd and AmInvestment Bank Bhd ahead of its proposed listing on the Main Market of Bursa Malaysia.&nbsp;</p>


Big Caring Group signs retail underwriting agreement with three banks for Main Market IPO; 1.9 bil shares to be issued

<p>Genting Bhd (KL: GENTING) has earmarked RM280 million from its proposed RM1.25 billion rights issue to pay interest and other financing costs.</p>


In a response to Bursa query, Genting says will use RM280m from working capital portion of rights issue for interest costs

<p>A week after a fellow backbender urged the federal government to reject any airline bailout requests, Putatan MP Datuk Shahelmey Yahya called on Putrajaya to step in to help address AirAsia Group Bhd's (KL:AAGB) financial woes.</p>


<p>The Malaysian Anti-Corruption Commission (MACC) on Wednesday summoned Datuk Seri Nazir Hussin Akhtar Husin, his wife and an aide to its headquarters here to assist in an investigation into alleged misappropriation and abuse of position involving an investment deal worth about RM10 million.</p>


MACC summons Nazir Hussin, wife, aide over RM10 million investment deal

<p>Gamuda Bhd (KL:GAMUDA) said its joint venture has secured a contract worth RM3.7 billion to build the Keelung mass rapid transit system (MRT) and trackwork project in Taiwan.</p>


Gamuda JV gets RM3.7b contract to build Taiwan urban rail system

<p>More than a dozen US companies are exploring opportunities in Malaysia’s rare earths sector, including mining projects with local partners and processing facilities, according to the US Embassy in Kuala Lumpur.</p>


More than a dozen US firms explore rare earths opportunities in Malaysia — US embassy

<p>The Malay Rulers have urged outsiders not to interfere in or politicise the dispute over the Negeri Sembilan throne, calling for the matter to be resolved by the relevant authorities through proper legal and customary channels.</p>

<p>In a statement issued on Wednesday by Keeper of the Rulers' Seal Tan Sri Syed Danial Syed Ahmad on behalf of the Malay Rulers, all parties involved were urged to exercise wisdom, patience and respect for adab, adat and the dignity of the royal institution.</p>


Malay rulers urge outsiders not to politicise Negeri Sembilan throne dispute

<p>Former prime minister Datuk Seri Najib Razak intends to challenge the High Court’s decision on Wednesday, which had rejected his application to stay the 15-year prison sentence for his 1Malaysia Development Bhd (1MDB) conviction. The application to challenge this decision will be filed at the Court of Appeal, his lawyer said.</p>


Najib to challenge rejection of stay bid at Court of Appeal

<p>Bus Cap Bhd’s (KL:BUSCAP) share price jumped 22.61% on Wednesday, triggering an unusual market activity (UMA) query from Bursa Malaysia Securities.</p>


Bus Cap jumps almost 23%, triggering UMA query

<p>Former energy minister Yeo Bee Yin has sought government clarification on a reported increase in effective grid access charges under the Corporate Renewable Energy Supply Scheme (CRESS) and warned that reversing last month’s announcement would undermine investor confidence.</p>


Former energy minister seeks answer on reported CRESS charge reversal, warns of investor fallout

<p>Malaysia and Indonesia have begun discussions to explore ways of working together to tackle forest fires in Kalimantan and Sumatra that have caused transboundary haze.</p>


Haze: Discussions started with Indonesia to tackle forest fires, says Tok Mat

<p>Kenanga Research has flagged that operational, regulatory and reputational risks have escalated at CTOS Digital Bhd (KL:CTOS), and that near-term earnings visibility has weakened amid the risk of customer attrition to rival bureaus.&nbsp;</p>


CTOS cyber incident raises risks, weakens near-term earnings visibility — Kenanga

<p>New Zealand’s exodus of citizens to Australia accelerated in the first three months of the year, reaching the highest in 13 years in a further blow to the government just weeks from an election, latest data show.</p>


New Zealand exodus to Australia hits 13-year high as thousands leave

<p>Here is a brief recap of some business news and corporate announcements that made headlines on Wednesday:</p>


<p>Selangor has attracted more than RM3 billion in potential investments from four foreign companies as the state seeks to strengthen its position as a regional investment and business hub.</p>


Selangor draws over RM3 bil in investment interest from four foreign firms

<p>US investors are favourably reassessing the traditional 60% stock, 40% bond portfolio ​strategy as a sell-off in government debt lifts yields to levels that offer more attractive income and potentially stronger future returns.</p>


Higher yields revive the case for a new-look 60/40 portfolio

<p>A Singapore gauge of air quality worsened to the highest category in parts of the city-state on Wednesday, as swathes of Southeast Asia choked on haze from wildfires raging in Indonesia.</p>
