Wednesday, September 13th, 2017
NEW YORK, Sept 13 — Wall Street stocks pulled back from records early today as US data showed inflation remained tepid, potentially denting the odds of further Federal Reserve interest rate hikes. US stocks have been on the upswing this week,…
PETALING JAYA: EITA Resources Bhd’s wholly owned subsidiary EITA Elevator (Malaysia) Sdn Bhd has bagged a sub-contract job to provide lift services from Pembenaan Leow Tuck Chui & Sons Sdn Bhd (PLTCSSB) for RM11.30 million.
EITA said in a Bursa Malaysia filing it received the letter of acceptance on Sept 12 from PLTCSSB, to supply, deliver, install, test, commission and maintain lift services for an affordable apartment building next to the Duta-Ulu Kelang Expressway, Mukim Setapak, Kuala Lumpur. EITA Elevator is required to supply and install 23 lifts.
Works is expected to begin upon receipt of the acceptance letter and is expected to go on until Aug 14, 2020.
The sub-contract will not have any material effect on the net assets and gearing of EITA group for the financial year ending Sept 30 2017 and is expected to contribute positively to the earnings of Eita group over its duration.
Eita's shares gained 1.12% to close at RM1.80 with some 95,900 shares changing hands. Its market capitalisation stood at RM232.69 million.
PETALING JAYA: IGB Corp Bhd said its wholly owned unit Verokey Sdn Bhd has executed a waiver of pre-emption rights in relation to the allotment and issue of shares of Blackfriars Project Management Ltd to Circleplane Ltd.
This turns Blackfriars Project Management from a 100% owned subsidiary into a 50% associate of Verokey, it told the stock exchange yesterday.
Blackfriars Project Management was established to oversee the management and construction of the development known as 18 Blackfriars London.
The project is a joint-venture development between Verokey and Tower Ray Ltd through an equity participation of 50:50 basis each in Black Pearl Ltd pursuant to the JV agreement dated June 7, 2013.
Circleplane was incorporated in the UK and is principally engaged in the business relating to the management of real estate. It has been appointed Tower Ray’s nominated company.
IGB Corp closed unchanged at RM2.84 yesterday, with some 103,000 shares traded.
PARIS, Sept 13 — Airbus said today it has finalised a more than US$4 billion order with Cathay Pacific for 32 of its A321neo aircraft to revamp the Hong Kong-based carrier’s regional affiliate. The single-aisle medium-haul jets will be…
PARIS, Sept 13 — Airbus said today it has finalised an order for 32 of its A321neo aircraft from Hong Kong-based airline Cathay Pacific for a catalogue price of more than US$4 billion. The medium-haul jets will be operated by Cathay Dragon,…
PETALING JAYA: Axiata Group Bhd’s wholly owned subsidiary, Axiata Digital Services Sdn Bhd (ADS), and Merchantrade Asia Sdn Bhd (MASB) have set up Merchantrade Digital Services Sdn Bhd (MDS), a digital financial services and solutions company, on a joint-venture basis.
ADS is the substantial shareholder in the JV company with an equity interest of 51%, with the rest held by MASB.
The incorporation of the JV company, which has a share capital of RM1,000, was completed yesterday.
The incorporation of MDS is not expected to have any material effect on the earnings and net tangible assets of Axiata for the financial year ending Dec 31 2017, Axiata said.
Axiata shares fell three sen to RM5.10 with some 5.23 million changing hands. Its market capitalisation stood at RM46.07 billion.
PETALING JAYA: HSS Engineers Bhd’s associate company HSS Integrated Sdn Bhd (HSSI) has been appointed project management consultant by PNB Commercial Sdn Bhd for a mixed development project in Taman Perling, Johor Baru, for RM10 million.
HSS Engineers announced in a Bursa Malaysia filing that it yesterday accepted a letter of appointment dated Sept 5 2017 from PNB Commercial.
“Pursuant to the exclusive teaming arrangement between HSSI and HSS Engineers' wholly owned subsidiary, HSS Engineering Sdn Bhd (HSSE), HSSI and HSSE will be collaborating exclusively to execute and complete the contract,” the company said.
The contract, which comes into effect from the acceptance of the appointment letter, is slated to be completed in the fourth quarter of 2022. It is expected to contribute positively for the financial years ending Dec 31 2017 to Dec 31 2022.
HSS Engineers shares fell one sen to close at RM1.14 with some 1.43 million shares changing hands. Its market capitalisation stood at RM360.56 million.
DETROIT, Sept 13 — Ride-hailing apps and car-sharing services have been called existential threats to automakers as we know them, but General Motors Co is looking to fight fire with fire. Or, in this case, robots with robots. While the more…