Latest news with #RM458
New Straits Times
08-07-2025
- Politics
- New Straits Times
Excavation did not cause Putra Height explosion
SHAH ALAM; The Selangor State Assembly was informed today that the gas pipeline explosion in Putra Heights, Subang Jaya, on April 1 was not caused by excavation works, nor was it the trigger for the resulting blaze. Menteri Besar Datuk Seri Amirudin Shari said investigations by the police, Minerals and Geoscience Department, and the Department of Occupational Safety and Health (DOSH) confirmed that the groundworks did not impact the gas pipeline. "According to checks with the local authorities, the 4.2-metre monsoon drain construction and the residential development took place around 2008 to 2009, before the establishment of the One-Stop Centre in 2010," he said during a briefing on the Putra Heights incident at the Selangor state assembly today. Amirudin also refuted allegations that the developer had carried out unauthorised construction near the Petronas Gas Berhad (PGB) reserve. He clarified that the company had complied with Petronas' safety conditions and obtained formal approval to proceed with works on March 20, 2025. He also denied claims that the Subang Jaya City Council (MBSJ) had failed to meet the necessary criteria when approving the planning permission for works within the Petronas buffer zone, explaining that while PGB's buffer zone requirement is 60 feet, the approved buffer zone at the Putra Heights site was 66 feet. Earlier, DOSH Petroleum Safety Division director, Husdin Che Amat, was reported as saying that the incident was caused by weak soil conditions beneath the pipeline. He said that while the pipeline met all technical specifications, the investigation revealed that the ground beneath it was weak and failed to provide proper support, leaving a segment of the pipe resting over soft, wet soil. On a separate development, Amirudin said the reconstruction and repair works for the affected homes are ahead of schedule. He said that based on assessments by the Economic Planning Unit, three homes in Taman Putra Harmoni will be rebuilt, while 46 will undergo repairs, and another 46 units are still undergoing final structural inspections. He added that in Kampung Kuala Sungai Baru, of the 17 homes affected, 11 will be rebuilt and six repaired. He said that as of now, homeowners in Taman Putra Harmoni have submitted repair claims amounting to RM458,440.50, while residents of Kampung Kuala Sungai Baru have filed claims for RM884,934. He reminded residents that they have until Oct 27 to submit all required documents, with MBSJ, which is acting as facilitator. "Following the assessment, the state government will propose to the Ministry of Housing and Local Government to raise the ceiling for repair costs from RM30,000 to RM60,000 to account for roofing tiles and replacement of fittings such as water tanks," he concluded. – BERNAMA
New Straits Times
08-07-2025
- Business
- New Straits Times
MARKET PULSE PM JULY 8, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia ended lower for the second consecutive session, as renewed trade tariff uncertainty continued to dampen investor sentiment. In contrast, most regional markets finished in positive territory, discounting US tariff risks after President Trump signaled that negotiations with Washington remained on the table. Back home, the FBM KLCI is expected to trade within the 1,520 to 1,550 range for this week. The ringgit weakened against the US dollar today, closing at 4.2400. In the crypto market, Bitcoin climbed to RM458,755. Ethereum rose to RM10,817, while Solana rose to RM635. That wraps up today's Market Pulse.
New Straits Times
04-07-2025
- Business
- New Straits Times
MARKET PULSE PM JULY 4, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia closed broadly flat in the Friday session as sectoral performances were mixed across the broader market. Gains were led by consumer-related and industrial product stocks, buoyed by resilient domestic demand and growing optimism in data centre-related industries. Meanwhile, the ringgit slipped against the US dollar to 4.2210. In the crypto market, Bitcoin remained rangebound, trading at RM458,999. Conversely, other cryptocurrencies declined, with Ethereum slipping to RM10,769 and Solana falling to RM633. That wraps up today's Market Pulse.
New Straits Times
30-06-2025
- Business
- New Straits Times
MARKET PULSE AM JUNE 30, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Sarawak Consolidated Industries was the most active stock in early trade after proposing a rights issue with free detachable warrants and a capital reduction to boost its capital base. The stock fell 3 sen to 12 sen, with 3 million shares traded. Bursa Malaysia opened higher on Monday, taking cues from Wall Street's upbeat performance driven by optimism over US-China trade discussions. The benchmark index is anticipated to move within the 1,530 to 1,540 range today. In the cryptocurrency market, Bitcoin is climbing to around RM458,296, while Ethereum is also trending upward to approximately RM10,587. In contrast, Solana has slipped to about RM640. That's it for Market Pulse.
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New Straits Times
21-05-2025
- Business
- New Straits Times
MARKET PULSE AM MAY 21, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia opened mixed on Wednesday, following a weaker Wall Street performance overnight. A lack of fresh catalysts and declining daily volume led to reduced market participation, particularly from retail investors. The FBM KLCI is expected to hover within the range of 1,545 to 1,555 today. Meanwhile, Bitcoin rose to RM458,036 ringgit as major corporate purchases boosted positive sentiment in the crypto market. Ethereum, however, dipped to RM10,887, while Solana was down at RM723. That's it for Market Pulse.
