KUALA LUMPUR (Dec 7): CGS-CIMB Securities has maintained its “neutral” rating on the construction sector and said Prime Minister Datuk Seri Anwar Ibrahim’s order of the suspension and review of RM7 billion worth of contracts is a negative development for Budget 2023 and could raise concerns over MRT 3. In a note on Tuesday (Dec 6), CGS-CIMB’s Sharizan Rosely said this is a negative development for contract outlook in 2023, but not totally unexpected.
As the monsoon season approaches, bringing high waters and unseen dangers, Malaysians living in at-risk areas need to be extra vigilant. The Government, meanwhile, is looking at both short and long-term policies to address flooding issues, which is likely to be exacerbated by global warming.
Public advised to prepare for floods thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Looking at DBKL’s 2021 Budget are (from left) DBKL Project Implementation executive director Azmi Abdul Hamid, Socio-Economic Development executive director Anwar Mohd Zain, Planning executive director Sulaiman Mohamed and Mahadi.
UNEXPECTED expenditure due to the Covid-19 pandemic has forced Kuala Lumpur City Hall (DBKL) to review this year’s budget and adjust its expenditure accordingly for 2021.
Kuala Lumpur mayor Datuk Mahadi Che Ngah said DBKL saw an RM800mil drop in revenue this year, from a projected revenue of RM2.52bil, due to the pandemic and subsequent movement control order.
“We allowed for payment waivers and other discounts to Kuala Lumpur residents and this affected our initial projected revenue.