Latest news with #CentralSpineRoadPackage2
The Star
16-05-2025
- Business
- The Star
Trading ideas: Aneka, Fibromat, Aemulus, Bintai, BTM, LBS, Velesto, PJBumi, Dialog, 99 Speed, Samchem, Keyfield, Swift, PBA
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Aneka Jaringan Holdings Bhd secured a RM50.5mn contract through its wholly owned subsidiary Aneka Jaringan Sdn Bhd from Clement Chan Architect for Kuala Lumpur Metro Property Sdn Bhd. Fibromat (M) Bhd secured a RM283.5mn contract from Casa Hartamas Sdn Bhd via its unit, MTS Fibromat (M) Sdn Bhd, for design and installation works under the Central Spine Road Package 2 and Section 2A in Kelantan. Aemulus Holdings Bhd , via its wholly-owned unit Aemulus Corporation Sdn Bhd, has secured US$1.1mil (RM4.7mn) in new orders from a new customer in Malaysia's automotive industry. Bintai Kinden Corp Bhd announced that Tenaga Nasional Bhd has reinstated three contracts that were terminated two years ago. United Overseas Bank (Malaysia) Bhd has partnered with Bursa Malaysia to help SMEs adopt sustainable practices through its Sustainability Accelerator Programme 2.0. BTM Resources Bhd has cancelled its proposed 10MW biomass power plant after its financing facilities were withdrawn. It is also considering shelving a second 7MW biomass plant. LBS Bina Group Bhd has entered into a MoU with Oriental Holdings Bhd to collaborate on a mixed-use industrial development in Klebang, Melaka that carries an estimated gross development value of over RM7bn. Velesto Energy Bhd was honoured for best recordable incident rate and recordable incident-free operations at the IADC South East Asia Chapter 2024 Safety Awards in Bangkok. PJBumi Bhd has entered into a master construction agreement with Intlef Oil and Gas Group Co Ltd for the design, construction, and supply of onshore drilling rigs and related equipment. Dialog Group Bhd saw its 3QFY25 net profit fall 13.6% YoY to RM135.0mn on weaker performances from its Malaysian and international operations. 99 Speed Mart Retail Holdings Bhd posted a 7.5% rise in net profit to RM143.2mn for 1Q25, from RM133.1mn a year earlier. Samchem Holdings Bhd saw 1QFY25 net profit decline 34.2% YoY to RM4.0mn, as revenue fell 3.5% to RM287.8mn, mainly due to lower average selling prices. Keyfield International Bhd reported a lower net profit of RM20.68mn for 1Q25, down from RM30.30mn a year earlier, mainly due to reduced vessel revenue. Swift Haulage Bhd posted a 65.9% YoY decline in 1QFY25 net profit to RM7.2mn, due to the absence of a one-off disposal gain recorded in the same period last year. PBA Holdings Bhd posted a 36.1% YoY rise in 1QFY25 net profit to RM19.5mn, supported by higher tariffs implemented since February 2024.
The Star
15-05-2025
- Business
- The Star
Fibromat wins RM283.5mil contract for Central Spine Road works
Fibromat (M) Bhd managing director and chief executive officer Danny Ng Kian Boon KUALA LUMPUR: Fibromat (M) Bhd 's wholly-owned subsidiary, MTS Fibromat (M) Sdn Bhd has secured a contract worth RM283.5mil from Casa Hartamas Sdn Bhd. In a filing with Bursa Malaysia, Fibromat said the subcontract was for the supply of materials, labour, and equipment for geotechnical and erosion control works under the Central Spine Road Package 2 and Section 2A. The project involves road construction from the Sungai Lakit Bridge to Gua Musang and from the bridge to Paloh 2, in Kelantan. The geotechnical solutions and specialist engineering company said the construction period spans 24 months, from May 15, 2025, to May 15, 2027. MTS Fibromat plays the role of a subcontractor to the contractor, Casa Hartamas, who has received the award to build the road from the main contractor Core Value Sdn Bhd. The ultimate owner of the Central Spine Road is the Public Works Department. 'This project marks a significant milestone for Fibromat as it represents our first foray into infrastructure construction services, specifically in contributing to a portion of the Central Spine Road project in Kelantan. 'It presents an excellent opportunity for us to expand our capabilities and diversify our portfolio beyond our core expertise. We are honoured to be entrusted with this role and are committed to delivering high standards of quality and safety,' Fibromat managing director and chief executive officer Danny Ng Kian Boon said in a statement. 'In accordance with the JKR Works Schedule, our scope of work includes, but is not limited to, demolition and site clearance, earthworks, drainage works, pavement works, road furniture, environmental protection works, geotechnical components, and supporting structural works. 'This venture supports our strategic goal of gradually establishing a presence in infrastructure development as a turnkey service provider in Malaysia,' he added. With this new project, Fibromat's outstanding order book rises to about RM317.8mil as at May 15.
