Latest news with #RM570
New Straits Times
14-07-2025
- Business
- New Straits Times
Econpile order book tops RM570mil, first above RM500mil since FY22
KUALA LUMPUR: Econpile Holdings Bhd's outstanding order book is currently estimated at around RM570 million, with new contract wins for the financial year 2026 (FY26) to date totaling RM125 million. In a note, RHB Investment Bank Bhd (RHB Research) highlighted that this marks the first time Econpile's order book has exceeded the RM500 million level since the third quarter of FY22, when it stood at RM550 million at the end of the first quarter of that year. "The group's tenderbook stands at approximately RM1 billion, comprising private and public sector jobs. "Potential rerating catalysts include faster-than-expected approval for the Sungai Klang Link project (worth RM300-RM500 million for piling works). "Profitability-wise, we expect gross profit margins for this latest job to be between five and eight per cent," it added. Meanwhile, RHB Research also highlighted that Econpile has announced its second job win for FY26 and its third win within a two-week timeframe. The group secured a RM98 million contract from Eastmont to undertake bored piling works for Blocks C and D, basement construction for Block C, and pile cap works for Block D within a proposed industrial development in Kapar, Klang. This is Econpile's largest contract win since October 2023. RHB Research said given that the majority of Econpile's contracts pertain to property development works, the latest win indicates the group's comeback in the industrial space. "The said project is expected to be completed within 13 months from July. "The last time Econpile clinched a job related to an industrial building was in April 2022, which was a RM23 million contract from CJ Synergy Solutions for a five-storey industrial building in Section 20, Petaling Jaya," it noted. Overall, RHB Research has maintained a "Buy" call on Econpile, with a higher target price of 48 sen from 42 sen previously. It remains positive on the group's track record in infrastructure jobs compared to other piling contractors. The firm also made no changes to the group's earnings estimates, as the latest win is within its FY26 job replenishment target.
Daily Express
31-05-2025
- Daily Express
Man charged with using fake government document
Published on: Saturday, May 31, 2025 Published on: Sat, May 31, 2025 By: Jo Ann Mool Text Size: The charge is framed under Section 471 of the Penal Code and punishable under Section 465 of the same Code, which carries a jail term of up to two years, or a fine, or both, on conviction. Kota Kinabalu: A 40-year-old man was charged in the Magistrate's Court here on Thursday with using a fake government document worth RM570,000, related to the supply of Covid-19 RTK-Ag rapid test kits three years ago. Zaimih Hammat, self-employed, pleaded not guilty before Magistrate Dzul Elmy Yunus to committing the offence on March 17, 2022 at a law firm in Lintas Plaza, here. Zaimih is accused of dishonestly using a fake government order worth RM570,000, as genuine to supply and deliver 30,000 Covid-19 RTK-Ag rapid test kits to the Chief Minister's Office for April, dated Feb 21, 2022. The charge is framed under Section 471 of the Penal Code and punishable under Section 465 of the same Code, which carries a jail term of up to two years, or a fine, or both, on conviction. The prosecution proposed bail at RM4,000. Counsel Hannan Razaini, representing Zaimih, requested a lower bail amount in one surety. The court fixed July 17 for mention and released the accused on a bail of RM2,500 in one surety. Advertisement In another case, a 52-year-old woman was fined RM100, or jailed three days for failing to explain cash deposits of RM5,000 into her bank account. Magret Kundahal admitted to failing to provide a reasonable explanation as to how she had obtained RM5,000 belonging to Law Cheng Leh, on Oct 24, 2019, at 3.45pm, here. Magret was charged under Section 22A(1) of the Minor Offences Ordinance, which provides for a fine of up to RM100, or a jail term of up to three months, or both, on conviction. The court was told by the prosecution that the complainant had fallen victim to an online love scam. She had never met the man in person and only communicated with him via WhatsApp. The complainant became acquainted with a man who later claimed he would be sending her a gift. She then received a call from someone claiming to be from a courier service, asking her to pay a customs clearance fee. Following the instructions, she transferred RM5,000 to a bank account under the name of Magret. However, Magret failed to give a reasonable explanation for the money which ended up in her account. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
10-05-2025
- Business
- The Star
Will a Madani credit system work better?
Potential home buyers looking at the model of a Residensi Madani at PPR Batu Muda, Kuala Lumpur. — AZHAR MAHFOF/The Star One of the biggest barriers to building affordable housing in urban areas is the high cost of land. In Kuala Lumpur (KL), for example, land acquisition averages about RM570 per sq ft (psf). Combined with construction costs, a development could easily exceed the government's capped selling prices for Residensi Madani units at less than RM300 psf. Coupled with development costs, developers building these price-controlled homes inevitably suffer financial losses. The only current remedy is cross-subsidisation from free-market housing, which drives up prices elsewhere, defeating the purpose of affordable housing in the first place.
