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New Straits Times
6 days ago
- Business
- New Straits Times
Sunway Construction lands RM1.15bil data centre jobs for big US firm
KUALA LUMPUR: Sunway Construction Group Bhd's subsidiary Sunway Construction Sdn Bhd has been hired by a big US-based technology company to build two data centres totaling RM1.15 billion. Sunway Construction, in a statement, said the projects are expected to contribute to its earnings for the current and subsequent financial years, with completion targeted for the first quarter of 2027. Sunway Construction has so far secured RM3.5 billion of new orders, accounting for more than half of its 2025 order book replenishment target range of RM4.5 billion-RM6 billion. As a result, its total outstanding order book has risen to RM7.9 billion. Sunway Construction group managing director Liew Kok Wing said the new projects expand its order book for the year and fortify earnings visibility over the next two years. "Our strong performance in the first quarter of 2025 reflects the sustained momentum across our operations. "We are confident that this positive momentum will continue in the current financial year, underpinned by accelerated progress on data centre projects and a robust outstanding order book, including newly-secured projects," he added.
New Straits Times
25-05-2025
- Automotive
- New Straits Times
Fake engine oil will cause real, long-lasting damage
KUALA LUMPUR: Many vehicle owners buy fake engine oil to save money. Low-quality engine oil, sold for as little as RM50, has shortened engine lifespans. Some vehicle repair workshop owners collude with syndicates, selling fake engine oil to unsuspecting consumers. A source from the Domestic Trade and Cost of Living Ministry said engine oil is crucial for smooth operation and engine longevity. "However, many consumers remain unaware that counterfeit engine oil on the market can damage engines over time. "Low prices attract buyers, exposing them to this scam. "As a result, some retailers sell fake engine oil or oil that does not meet established standards. "This was evident when authorities raided a syndicate in Klang Valley last April that was bottling counterfeit oil made to resemble popular brands." The source said the syndicate is believed to be operating on a large scale, with three premises in Ara Damansara and Kepong, Kuala Lumpur. Twenty-six members of the syndicate were arrested, and fake engine oil worth millions of ringgit was seized. Investigations revealed that the counterfeit oil was being advertised online and distributed through workshops. Authorities found the premises bottling oil using fake labels mimicking major brands. The syndicate is believed to have been processing the fake oil itself, as evidenced by the discovery of drums of oil and fake labels. The oil may have been used, filtered and repackaged. "The fake oil was sold below market prices via social media and workshop distribution. "The syndicate had been operating for two to three years. Previously, Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the ministry had seized fake engine oil worth RM1.15 million between January 2019 and February this year. He said a new order was introduced under the Trade Descriptions Act. The ministry has introduced a new order under the Trade Descriptions Act 2011 [Act 730]. This order was gazetted on Oct 11, 2024 and came into effect on April 7. It was established under Section 29 of Act 730 to appoint Sirim QAS International as the authority responsible for certifying and issuing product compliance labels. He urged all stakeholders, especially manufacturers, to comply with this order.
New Straits Times
21-05-2025
- Business
- New Straits Times
Guan Eng questions bonuses of up to six months' salary for PDC staff
GEORGE TOWN: A backbencher has called on the Penang government to explain why its financial position has deteriorated to the extent that the Consolidated Revenue Account, which stood at RM1.15 billion in 2019, had declined by nearly RM1.1 billion over the past five years, as of the end of last year. Lim Guan Eng (DAP - Air Putih) said this suggested a financial deficit resulting from consecutive years of overspending, totalling almost RM1.1 billion. "Could detailed figures be provided on how this money was spent? Efforts by the state government to increase revenue and reduce expenditure are certainly welcome. "However, they must not negatively impact financial aid to the people or further burden them," he said during his speech debating the motion of thanks for Yang Dipertua Negeri Tun Ramli Ngah Talib's address at the opening of the sitting last Friday. Lim said that one of the financial constraints was the state government's debt to the Penang Development Corporation (PDC), which exceeded RM300 million. He said that Chief Minister Chow Kon Yeow had previously said that, as of 2023, the state government owed nothing to PDC. "Suddenly, in less than two years, the state owes PDC hundreds of millions? Why was inaccurate information provided to the state assembly?" he asked. Lim said that PDC had set a lower re-tender price for the 226.2ha of land at Byram/Changkat compared to the original tender. The land was sold through direct negotiation to UMECH Construction Sdn Bhd for RM646 million. However, following public criticism, the direct sale was cancelled and replaced with an open tender. The highest bid during the open tender came in at RM818 million from a consortium led by IJM Properties Sdn Bhd, a subsidiary of a listed company. This open tender price of RM818 million was RM172 million, or 27 per cent, higher than the direct negotiation price of RM646 million. Lim stressed that the RM818 million was urgently needed, given the state government's current financial constraints. "For reasons that remain unclear, this tender offer was rejected and cancelled, and the land was re-tendered. It is understood that the new re-tender price is lower than RM818 million. Is this true, and can we be assured that the sale price under the new re-tender will exceed RM818 million?" Another controversy surrounding PDC involved the road expansion project from Jalan Perusahaan to Jalan Tok Kangar in Seberang Perai Tengah, valued at RM21.6 million. This project, which commenced on Aug 1, 2019, was supposed to be completed by July 31, 2021. However, it has been delayed and is now expected to be completed only by the end of next year. "What actions are being taken to ensure such delays do not happen again, including addressing cost increases, claims for compensation from the contractor, and holding the responsible PDC officers accountable?" Lim said. He also highlighted reports of a six-month bonus being paid to PDC staff — the highest among all government agencies. "Who received this six-month bonus? And is this fair, considering the controversies surrounding PDC?" he added,
Malaysiakini
21-05-2025
- Business
- Malaysiakini
Penang's tabung is shrinking
Good morning. Here's what you should know today. Key Highlights Penang's tabung is shrinking Nurul Izzah's turn to warn of doom Jam packed day in KL Saturday Penang's tabung is shrinking If looking at how much money is left in your bank account at the start of each month makes you sad, you're not alone. And if you live in Penang and are elderly, disabled, a single mother, a housewife, or have babies, that little bit of relief when your annual i-Sejahtera aid payout comes in may also be at risk. That's because the Penang state government's consolidated revenue account is also shrinking. For 2025, its opening balance is RM50 million. While that sounds like a lot of money, Lim Guan Eng - who was chief minister from 2008 to 2018 - pointed out that this is RM1.1 billion less than the RM1.15 billion in the account in 2019. The state government's financial situation is such that Chief Minister Chow Kon Yow said it is considering scaling back welfare programmes like i-Sejahtera. Lim wants to know what exactly Chow's administration has been spending on the past five years to land them in this pickle. HIGHLIGHTS Nurul Izzah's turn to warn of doom PKR deputy president hopeful Nurul Izzah Anwar warns that the party is at risk of collapse within the next decade if they don't stop fighting each other. This is amid rising tensions in the party, with incumbent PKR deputy president Rafizi Ramli raining fire on his rivals. PKR president Anwar Ibrahim, however, says he isn't too worried about the intense fighting, believing that the party will patch things up once the internal polls are over. HIGHLIGHTS Jam packed day in KL Saturday Saturday is going to be a jam packed day in Kuala Lumpur, both in terms of traffic and events. The biggest event is the Asean summit, which will see road closures on six highways and 25 main roads. Then there are two protests that are planned for that day. The first is a rally to express Malay pride and dismay at the government for failing to protect their interests. The second, is a protest against the government's decision to extend MACC chief Azam Baki's contract by another year. HIGHLIGHTS Views that matter In case you missed it
Malaysiakini
20-05-2025
- Business
- Malaysiakini
Lim wants state govt to explain Penang's billion-ringgit financial plunge
Former Penang chief minister Lim Guan Eng has demanded an answer from his successor, Chow Kon Yeow, on the state's shrinking coffers, lamenting that Penang's financial standing has become "so critical". In his speech in the Penang state legislative assembly today, Lim urged the state government to explain why its consolidated revenue account of RM1.15 billion in 2019 declined by nearly RM1.1 billion over five years. "The chief minister has acknowledged that the...
