Latest news with #RM1.85
New Straits Times
3 days ago
- Politics
- New Straits Times
RM450mil flood mitigation project in Melaka gets green light
ALOR GAJAH: The federal government has approved RM450 million in funding for the Sungai Baru Flood Mitigation Plan (RTB) in Masjid Tanah, aimed at addressing recurring floods in the area. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh said the project will span a 15km stretch from Sungai Durian Daun to the mouth of Sungai Kuala Baru, and will include the construction of four flood retention ponds in Kampung Londang, Kampung Jeram, Kampung Lubuk Redan and Taman Gamelan. "This is a long-term initiative to tackle the flood problems affecting Masjid Tanah," he told reporters after visiting a Department of Irrigation and Drainage (DID) pump house as part of the Wakil Rakyat Untuk Rakyat (WRUR) engagement programme for the Lendu constituency at Taman Masjid Tanah Ria. Also present were State Secretary Datuk Azhar Arshad, State Science, Technology, Innovation and Digital Communications Committee chairman Datuk Fairul Nizam Roslan and Lendu assemblyman Datuk Seri Sulaiman Md Ali. For short-term flood prevention, Ab Rauf said the DID is implementing RM3.3 million worth of state-funded projects, including the installation of pumps, construction of pump houses and compact substations, and river maintenance works. Two existing flood retention ponds, Durian Daun and Solok Duku, are also undergoing rehabilitation at a combined cost of RM1.85 million, with completion expected by December. On a separate matter, Ab Rauf urged the state's stage bus operator to take greater responsibility for safety standards, calling for improved driver training following a series of fatal public transport accidents. He said several incidents were linked to negligent driving, resulting in loss of life. – Bernama
The Sun
3 days ago
- Politics
- The Sun
RM450 mln flood mitigation project in Melaka gets green light
ALOR GAJAH: The federal government has approved RM450 million in funding for the Sungai Baru Flood Mitigation Plan (RTB) in Masjid Tanah, aimed at addressing recurring floods in the area. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh said the project will span a 15-kilometre stretch from Sungai Durian Daun to the mouth of Sungai Kuala Baru, and will include the construction of four flood retention ponds in Kampung Londang, Kampung Jeram, Kampung Lubuk Redan and Taman Gamelan. 'This is a long-term initiative to tackle the flood problems affecting Masjid Tanah,' he told reporters after visiting a Department of Irrigation and Drainage (JPS) pump house as part of the Wakil Rakyat Untuk Rakyat (WRUR) engagement programme for the Lendu constituency at Taman Masjid Tanah Ria. Also present were State Secretary Datuk Azhar Arshad, State Science, Technology, Innovation and Digital Communications Committee chairman Datuk Fairul Nizam Roslan and Lendu assemblyman Datuk Seri Sulaiman Md Ali. For short-term flood prevention, Ab Rauf said the DID is implementing RM3.3 million worth of state-funded projects, including the installation of pumps, construction of pump houses and compact substations, and river maintenance works. Two existing flood retention ponds, Durian Daun and Solok Duku, are also undergoing rehabilitation at a combined cost of RM1.85 million, with completion expected by December. Separately, Ab Rauf urged the state's stage bus operator to take greater responsibility for safety standards, calling for improved driver training following a series of fatal public transport accidents. He noted that several incidents were linked to negligent driving, resulting in loss of life.
New Straits Times
3 days ago
- Business
- New Straits Times
Bursa Malaysia down ahead of key US data releases
KUALA LUMPUR: Bursa Malaysia ended lower today, pressured by selling activity amid cautious market sentiment as investors await key US economic data releases later this week. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.68 points or 0.18 per cent to 1,523.48 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14 and fluctuated between 1,523.48 and 1,532.80 throughout the day. In the broader market, decliners outpaced gainers 474 to 435, with 499 counters unchanged, 938 untraded and 50 suspended. Turnover declined to 2.51 billion units worth RM2.04 billion compared with Tuesday's 2.66 billion units worth RM1.85 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower today, failing to sustain an early recovery attempt, in contrast to Wall Street's overnight rally. He said persistent selling pressure weighed on the index, reflecting cautious market sentiment as investors await pivotal US economic data releases later this week. They are the Consumer Price Index and retail sales figures, which will provide critical insights into the trajectory of global economic growth. "Nvidia's quarterly earnings report, due tonight, remains a focal point, given its role as a bellwether for the tech sector and broader market confidence," he said. Sedek said foreign investors intensified their net selling on Bursa on Tuesday, extending last week's outflows. This sustained selling underscores heightened caution among global funds amid uncertainties surrounding US monetary policy and elevated regional market valuations.
Barnama
3 days ago
- Business
- Barnama
Bursa Malaysia Erases Earlier Gains To End Lower
By Nurunnasihah Ahmad Rashid KUALA LUMPUR, May 28 (Bernama) -- Bursa Malaysia failed to sustain earlier gains recorded for most part of the day to end lower on late selling, amid a mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 2.68 points to 1,523.48 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14, and subsequently hit the day's high of 1,532.90 in early trade before losing its steady momentum to close at its intraday low. In the broader market, decliners beat gainers 474 to 435, with 499 counters unchanged, 988 untraded and 50 suspended. Turnover declined to 2.50 billion units worth RM2.03 billion compared with Tuesday's 2.65 billion units worth RM1.85 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said strong selling in Sime Darby Bhd, following its lower-than-expected quarterly earnings, also dragged the FBM KLCI into negative territory by the end of the day. Sime Darby reported a significantly lower net profit of RM193.0 million in the third quarter ended March 31, 2025 (3Q 2025) cmpared with RM340.0 million in 3Q 2024, mainly due to lower profit from all core divisions. Its revenue also slipped to RM16.31 billion from RM18.84 billion year-on-year. Thong said equity markets in the region were mostly weaker ahead of Nvidia's earnings release later today, which is expected to offer key insights into the technology sector's trajectory.
New Straits Times
4 days ago
- Business
- New Straits Times
Bursa Malaysia ends lower on profit-taking in financial counters
KUALA LUMPUR: Bursa Malaysia ended lower as profit-taking in financial services counters weighed on the market, amid cautious sentiment across the regional market. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 8.14 points, or 0.53 per cent, to 1,526.16 from Monday's close of 1,534.30. The benchmark index opened 0.94 of-a-point higher at 1,535.24, and fluctuate between 1,521.93 and 1,535.41 throughout the day. In the broader market, decliners outpaced gainers 575 to 338, with 474 counters unchanged, 1,008 untraded and 17 suspended. Turnover declined to 2.65 billion units worth RM1.85 billion compared with Monday's 3.12 billion units worth RM1.63 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI extended its downtrend, weighed by continued foreign fund outflows for a sixth straight session, as investors remained risk-averse amid unresolved global trade tensions. This came despite comments earlier today from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who suggested the United States may revise its proposed tariffs on Malaysian exports to a lower baseline of 10 per cent—a notable development that nevertheless failed to significantly lift market sentiment, he told Bernama. "The market retained a defensive posture, as uncertainties surrounding trade tariffs continue to cloud outlook. "This caution persisted despite constructive signals from European markets and limited cues from Wall Street, where investors were processing Trump's decision to defer the implementation of 50 per cent tariffs on European Union (EU) goods from June 1 to July 9," he added. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key Asian markets ended mostly lower as investors are cautiously awaiting the latest developments on Trump's trade war. "Market participants are growing uneasy as Trump's unpredictable policy announcements and proposed tax cut extensions undermine confidence in the US economy and drive US Treasury yields higher. "On the domestic front, Malaysian equities remain attractive, supported by undervaluation, stronger corporate earnings, and an improving economic backdrop," he added. Nevertheless, the FBM KLCI is likely to stay in a consolidation phase in the near term, as cautious sentiment prevails amid rising global uncertainties, said Thong. "We expect the index to trade within the 1,520–1,550 range this week," he said. Among heavyweight counters, Maybank shed seven sen to RM9.85, Public Bank dropped three sen to RM4.38, CIMB lost six sen to RM6.90, and IHH Healthcare erased one sen to RM6.90, while Tenaga Nasional was flat at RM14. As for active stocks, Permaju dropped one sen to two sen, Sinaran Advance plunged seven sen to three sen, SFP Tech fell 1.5 sen to 20.5 sen, Velesto eased half-a-sen to 16.5 sen, while Tanco put on one sen to RM1.01.
