Its unit has secured a RM145.3 million contract to build the superstructure of a 35-storey office tower along Jalan Ampang in Kuala Lumpur. The contract, awarded by Khor Joo Saik Sdn Bhd, is for 24 months and it is expected to be completed by Nov 11, 2011. The contract is expected to contribute positively to the earnings of the group for the financial years ending 31 December 2009 and onwards.
Friday, November 27, 2009
Tuesday, November 24, 2009
136 contractors keen on RM7bil LRT extension project
A total 136 companies have shown interest to participate in Syarikat Prasarana Negara Bhd’s open tender bidding for the RM7bil extension of its two light rail transit (LRT) lines project in the Klang Valley.
Group managing director Datuk Idrose Mohamed said the 136 contractors had collected pre-qualification forms from Prasarana to be submitted in a month’s time for assessment and shortlisting of candidates to bid for the project.
StarBiz had previously reported that analysts predicted UEM Builders Bhd, IJM Corp Bhd, Gamuda Bhd and Malaysian Resources Corp Bhd are likely major contractors to be involved, based on their experience in LRT projects.
Prasarana would also assess the feedback from the three-month public display for the proposed LRT line extension ending Dec 14, said Idrose.
Group managing director Datuk Idrose Mohamed said the 136 contractors had collected pre-qualification forms from Prasarana to be submitted in a month’s time for assessment and shortlisting of candidates to bid for the project.
StarBiz had previously reported that analysts predicted UEM Builders Bhd, IJM Corp Bhd, Gamuda Bhd and Malaysian Resources Corp Bhd are likely major contractors to be involved, based on their experience in LRT projects.
Prasarana would also assess the feedback from the three-month public display for the proposed LRT line extension ending Dec 14, said Idrose.
“If everything goes well, the construction of the LRT extensions will start in the first quarter of next year,” he told reporters after the opening of the International Association of Public Transport (UITP) Asia Pacific Seminar by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah yesterday.
When completed in three years, the LRT extension is expected to double the current daily passenger volume of 170,000 for Ampang LRT and 180,000 for Kelana Jaya LRT.
On a more short-term development of Prasarana, Husni said the company would start its four-car train service in stages beginning next month.
“Four sets of the train will be delivered every quarter in 1½ years,” he said, adding that RM1bil had been invested in acquiring 35 sets of the four-car trains.
In terms of buses, he said the open tender to supply 400 new buses for Prasarana that closed recently attracted 12 bidders.
“The company is currently evaluating the bidders and the delivery of the buses will be in stages starting from the first quarter of next year,” he said.
Husni said these positive developments was in line with the Government’s national key result areas to increase public transport usage to 25% by 2012 from the current 16%.
The three-day seminar with the theme Making Public Transport of Tomorrow Happen is organised by Prasarana subsidiary, Rangkaian Pengangkutan Integrasi Deras Sdn Bhd, will see some 100 international delegates discuss issues in the public transport industry.
Prasarana chairman Tan Sri Izzuddin Dali said the seminar provides a platform for world-wide cooperation, business development and sharing of know-how of the industry.
When completed in three years, the LRT extension is expected to double the current daily passenger volume of 170,000 for Ampang LRT and 180,000 for Kelana Jaya LRT.
On a more short-term development of Prasarana, Husni said the company would start its four-car train service in stages beginning next month.
“Four sets of the train will be delivered every quarter in 1½ years,” he said, adding that RM1bil had been invested in acquiring 35 sets of the four-car trains.
In terms of buses, he said the open tender to supply 400 new buses for Prasarana that closed recently attracted 12 bidders.
“The company is currently evaluating the bidders and the delivery of the buses will be in stages starting from the first quarter of next year,” he said.
Husni said these positive developments was in line with the Government’s national key result areas to increase public transport usage to 25% by 2012 from the current 16%.
The three-day seminar with the theme Making Public Transport of Tomorrow Happen is organised by Prasarana subsidiary, Rangkaian Pengangkutan Integrasi Deras Sdn Bhd, will see some 100 international delegates discuss issues in the public transport industry.
Prasarana chairman Tan Sri Izzuddin Dali said the seminar provides a platform for world-wide cooperation, business development and sharing of know-how of the industry.
Wednesday, November 18, 2009
AHMAD ZAKI RESOURCES BERHAD - LETTER OF AWARD
CADANGAN KOMPLEKS KERJA RAYA 2, JALAN SULTAN SALAHUDDIN, KUALA LUMPUR (REKA DAN BINA)
Wholly-owned subsidiary, Ahmad Zaki Sdn Bhd (“AZSB”) had on 17 November 2009 received the Letter Of Award from Jabatan Kerja Raya Malaysia, Kuala Lumpur for “Cadangan Kompleks Kerja Raya 2, Jalan Sultan Salahuddin, Kuala Lumpur (Secara Reka Dan Bina).
The Award for the Works amounted to a total value of RM 309,374,000.00. The Works is to be completed within the period of 130 weeks i.e commencing from 01 December 2009 to 28 May 2012.
Wholly-owned subsidiary, Ahmad Zaki Sdn Bhd (“AZSB”) had on 17 November 2009 received the Letter Of Award from Jabatan Kerja Raya Malaysia, Kuala Lumpur for “Cadangan Kompleks Kerja Raya 2, Jalan Sultan Salahuddin, Kuala Lumpur (Secara Reka Dan Bina).
The Award for the Works amounted to a total value of RM 309,374,000.00. The Works is to be completed within the period of 130 weeks i.e commencing from 01 December 2009 to 28 May 2012.
Monday, November 16, 2009
Two-year review bodes well for construction, says MBAM
The push by the Government under the 10th Malaysia Plan to monitor and review the construction industry’s performance over two years, instead of the full five years under the plan, augurs well for the industry, said Master Builders Association Malaysia (MBAM) president Ng Kee Leen.
Ng said MBAM supported the approach as it would be more “current” for planning and allowed for better monitoring, thus increasing the prospects of the proposed projects being achieved.
“We observe that sometimes during a five-year plan, projects that are not completed or undertaken will be brought forward to the next national plan,” he said in a statement.
Ng said it is hoped that with a shorter timeframe, the construction industry would be able to deliver its role more efficiently, cost effectively and on time.
He said as the Government was pushing the private sector to be the engine of growth, the authorities should have a more efficient delivery system and adminstrative structure that allowed the private sector to operate in a business-friendly environment with reduced bureaucracy.
Ng said MBAM supported the approach as it would be more “current” for planning and allowed for better monitoring, thus increasing the prospects of the proposed projects being achieved.
“We observe that sometimes during a five-year plan, projects that are not completed or undertaken will be brought forward to the next national plan,” he said in a statement.
Ng said it is hoped that with a shorter timeframe, the construction industry would be able to deliver its role more efficiently, cost effectively and on time.
He said as the Government was pushing the private sector to be the engine of growth, the authorities should have a more efficient delivery system and adminstrative structure that allowed the private sector to operate in a business-friendly environment with reduced bureaucracy.
“In this respect, we are thankful for the special taskforce to facilitate business (Pemudah) for its various efforts to harness the strength of the private and public sectors to resolve construction industry issues for the benefit of the country,” he noted.
Ng said what was clearly needed in the local construction industry was speedy approvals by the various authorities to ensure project delivery.
When contacted, Ng told StarBizWeek that MBAM was encouraged by the Government’s recent announcement of having greater public-private partnership.
“This will not only promote healthy competition but also ensure a larger group of industry players will particpate in (Government) projects,” he said.
Annually, the local construction industry handles RM60bil worth of projects, of which about 50% is undertaken by the private sector while the balance 50% is by the Government, which takes on infrastructure works.
On financing, Ng said MBAM hoped local banks could consider setting higher loan quota for the construction sector to enable the industry to continue playing its role as a key economic growth driver.
“MBAM would like to actively participate in dialogues with the relevant agencies in formulating and providing input to assist the Government in instituting necessary measures and initiatives to help reduce costs and ultimately enhance efficiency and competitiveness of the construction industry,” Ng said.
Ng said what was clearly needed in the local construction industry was speedy approvals by the various authorities to ensure project delivery.
When contacted, Ng told StarBizWeek that MBAM was encouraged by the Government’s recent announcement of having greater public-private partnership.
“This will not only promote healthy competition but also ensure a larger group of industry players will particpate in (Government) projects,” he said.
Annually, the local construction industry handles RM60bil worth of projects, of which about 50% is undertaken by the private sector while the balance 50% is by the Government, which takes on infrastructure works.
On financing, Ng said MBAM hoped local banks could consider setting higher loan quota for the construction sector to enable the industry to continue playing its role as a key economic growth driver.
“MBAM would like to actively participate in dialogues with the relevant agencies in formulating and providing input to assist the Government in instituting necessary measures and initiatives to help reduce costs and ultimately enhance efficiency and competitiveness of the construction industry,” Ng said.
Thursday, November 12, 2009
Mudajaya - A Bumper Quarter
CIMB maintain BUY call with a higher target price of RM6.90 (RM6.65 previously), which remains pegged to a 30% discount to RNAV. Potential share price triggers include:
(i) this good set of results and possibly more to come,
(ii) more contract awards, and
(iii) financial closure for the balance of Phase 2 of the IPP in India.
(i) this good set of results and possibly more to come,
(ii) more contract awards, and
(iii) financial closure for the balance of Phase 2 of the IPP in India.
Wednesday, November 11, 2009
Mudajaya earnings soar to RM107mil
An increased level of activities during the nine months ended Sept 30 led Mudajaya Group Bhd to post higher revenue and pre-tax profit of RM508.2mil and RM106.7mil compared with RM294.2mil and RM51.7mil respectively in the previous corresponding period.
In a filing with Bursa Malaysia, it said net profit for the third quarter ended Sept 30 rose to RM35.32mil from RM8.08mil a year ago, while revenue rose to RM200.10mil from RM112.47mil previously.
Earnings per share increased to 9.48 sen from 2.17 sen.
In a filing with Bursa Malaysia, it said net profit for the third quarter ended Sept 30 rose to RM35.32mil from RM8.08mil a year ago, while revenue rose to RM200.10mil from RM112.47mil previously.
Earnings per share increased to 9.48 sen from 2.17 sen.
Sunday, November 8, 2009
WHY SALCON?
Salcon saw a change in major shareholders in 2005 after Naga Muhibbah, under Datuk Seri Goh Eng Toon (former Ban Hin Lee CEO) acquired a majority stake from Kumpulan Emas Bhd in several off-market transactions. Since then, management has sought to clean up its business. In 2007, Salcon pared down its stake in PalmTech to 49%, a cumbersome legacy problem.
Salcon’s CEO Mr How See Hock joined the Group a few years ago after spending almost 20 years with IJM. Its Finance Director, Mr Law Woo Hock joined from Ireka Corporation.
Market Capitalisation : RM260M
Net Gearing (as at 30 June 2009) : Net Cash
NTA (as at 30 June 2009) : RM0.65
Salcon’s water projects range from construction of water treatment plants to being a holder of foreign water concessions. Previously active in the construction of domestic water treatment plants and wastewater treatment centres, the company has in recent years expanded to China, Thailand, Indonesia and Vietnam. Salcon’s water related projects encompass water and wastewater turnkey investment (design, finance and construct), turnkey contracting and water asset management (O&M, NRW Control). As of FY08, its water and wastewater related earnings accounted for 95% of revenue.
Salcon operates a total of 6 water concessions in China and 1 in Vietnam:
Ipoh airport gets RM60m facelift
The Cabinet has approved the allocation of RM60mil to extend and upgrade the underutilised Sultan Azlan Shah Airport.
The grant is to be used to extend the airport’s runway by 200m from the present 1.8km and to upgrade the airport terminal. Work is expected to start next year.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said a government survey showed that Perak had immense potential to become a top tourist destination.
“With the extension, the government hopes more budget airlines will be attracted to use the airport,” he said yesterday after a ground-breaking ceremony for a market at the Tanah Hitam new village in Chemor near here.
The grant is to be used to extend the airport’s runway by 200m from the present 1.8km and to upgrade the airport terminal. Work is expected to start next year.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said a government survey showed that Perak had immense potential to become a top tourist destination.
“With the extension, the government hopes more budget airlines will be attracted to use the airport,” he said yesterday after a ground-breaking ceremony for a market at the Tanah Hitam new village in Chemor near here.
Monday, November 2, 2009
RM5b worth of 9MP projects implemented in Penang
Almost RM5 billion worth of projects for Penang under the Ninth Malaysia Plan (9MP) have been implemented from the total RM7.616 billion allocated, the Dewan Rakyat was told today.
Sunrise 1Q net profit up 24% to RM37.3m
Sunrise Bhd's net profit rose 24% to RM37.3 million from RM30.2 million a year ago as earnings were sustained by progress billings for its ongoing developments.
Scomi, Geodesic to jointly bid for Bangalore monorail projects
Scomi Engineering Bhd is teaming up with Geodesic Techniques Private Ltd to bid for the construction of new monorail alignments in Bangalore.
Puncak Niaga eyes Indian water job
Puncak Niaga Holdings Bhd told the exchange yesterday that it has formed a 60:40 joint-venture company with India’s Lanco Infratech Ltd to participate in a bid for a water supply and drainage tender in India.
The project was identified as Hogenakkal water supply and fluorosis mitigation Project – Package I called by the Tamil Nadu Water Supply and Drainage Board, India.
“The joint venture is synergistic to Puncak group’s business expansion plans in India,” the company said yesterday.
The project was identified as Hogenakkal water supply and fluorosis mitigation Project – Package I called by the Tamil Nadu Water Supply and Drainage Board, India.
“The joint venture is synergistic to Puncak group’s business expansion plans in India,” the company said yesterday.
Sunday, November 1, 2009
Initial works on permanent LCCT to begin soon
Malaysia Airports Holdings Bhd (MAHB), which manages all the airports in Malaysia, said initial works for the permanent low-cost carrier terminal (LCCT) in Sepang will start next month.
"If everything goes well, site clearing works, like earthworks, will start next month," MAHB chairman Tan Sri Dr Aris Othman told Malaysian journalists who are in Istanbul for the official opening of the new terminal at Istanbul Sabiha Gocken International Airport yesterday.The company is also in the process of appointing consultants for the LCCT project - which is made up of more than 30 packages.These packages comprise both air and land segments. The air segment involves the extension of the runway, taxiway and apron parking, while the land segment involves the construction of the terminal, hotel, as well as the shopping area.Deputy Transport Minister Datuk Abdul Rahim Bakri, who also attended the press conference, said the tender for the construction of the new LCCT will be called as soon as the design is completed.The new LCCT is expected to be completed by September 2011. The terminal, estimated to cost RM2 billion, will be built about 2km away from KLIA.The terminal will be able to handle up to 30 million passengers a year, compared to the current capacity of about 10 million.It will also involve the construction of a RM100 million 2km express rail link (ERL) connecting KLIA to the new terminal."With more regional low-cost airlines flying to Malaysia, I believe the new terminal will provide a very good aviation infrastructure and will bring in more tourists to Malaysia," he said.
"If everything goes well, site clearing works, like earthworks, will start next month," MAHB chairman Tan Sri Dr Aris Othman told Malaysian journalists who are in Istanbul for the official opening of the new terminal at Istanbul Sabiha Gocken International Airport yesterday.The company is also in the process of appointing consultants for the LCCT project - which is made up of more than 30 packages.These packages comprise both air and land segments. The air segment involves the extension of the runway, taxiway and apron parking, while the land segment involves the construction of the terminal, hotel, as well as the shopping area.Deputy Transport Minister Datuk Abdul Rahim Bakri, who also attended the press conference, said the tender for the construction of the new LCCT will be called as soon as the design is completed.The new LCCT is expected to be completed by September 2011. The terminal, estimated to cost RM2 billion, will be built about 2km away from KLIA.The terminal will be able to handle up to 30 million passengers a year, compared to the current capacity of about 10 million.It will also involve the construction of a RM100 million 2km express rail link (ERL) connecting KLIA to the new terminal."With more regional low-cost airlines flying to Malaysia, I believe the new terminal will provide a very good aviation infrastructure and will bring in more tourists to Malaysia," he said.
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