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East Coast Rail Link (ECRL) Project, Malaysia

PROJECT TYPE
New railway line
LOCATION
Malaysia
CONSTRUCTION STARTED
August 2017
EXPECTED COMPLETION
2026Expand
East Coast Rail Link (ECRL) project is a 640km railway link connecting different parts of the east coast region with the west coast region in Malaysia.

Malaysia Rail Link (MRLSB) is developing the project and will operate it in a 50:50 joint venture with China Communications Construction Company (CCCC). The Ministry of Transport, through Agensi Pengangkutan Awam Darat (APAD), will supervise and regulate the project.

Construction on the ECRL project began with the groundbreaking held in Kuantan, Malaysia, in August 2017, but the work was suspended in 2018 due to financial reasons. Construction resumed in July 2019, with the completion scheduled for December 2026.

ECRL is the biggest economic and trade project between China and Malaysia.

ECRL project background
The ECRL rail project was originally planned to be developed in two phases, with phase one covering 600km of track and phase two with an 88km stretch.

Some modifications have been made to the alignment due to cultural, heritage, and environmental concerns. The realigned stretch will run from Mentakab to Port Klang via Negeri Sembilan to avoid traverse through the Klang Gate Quartz Ridge.

The new alignment also resulted in a significant reduction in construction costs from MYR65.5bn ($15.8bn) to MYR44bn ($10bn), based on a comprehensive value engineering exercise.

ECRL route details
The new rail link will pass through the states of Kelantan, Terengganu, Pahang, Negeri Sembilan, WP Putrajaya, and Selangor. It will originate at Kota Bharu, the state capital of Kelantan, and terminate at Port Klang in Selangor. It will reduce the travel time from Kota Bharu to WP Putrajaya to approximately four hours.

The route will have three interchange stations along, namely Mentakab, Bangi/Kajang, and Putrajaya Sentral.

The Putrajaya Sentral station will be an interchange with Express Rail Link (ERL) for those travelling to Kuala Lumpur International Airport (KLIA) and KLIA2 and with Mass Rapid Transit 2 (MRT2) Sungai Buloh-Serdang-Putrajaya (SSP) line.

The line will interchange with KTM Electric Train Service (ETS) and KTM Komuter service at Bangi / Kajang, while the Mentakab station will allow the ECRL to interchange with KTM Intercity and KTM Kargo service.

The standard gauge double-track railway line will allow passenger trains to travel at speeds up to 160km/h and freight trains at 80km/h.

Stations and tunnels along the ECRL route
The East Coast Rail Link project will comprise a total of 20 stations, including 14 passenger stations, five combined passenger and freight stations, and one freight station.

“Freight transport along the East Coast rail link will account for 70% of the total revenue generated by the rail network.”
The route will have approximately 40 tunnels from Kota Bharu to Port Klang, including the 2.8km-long Kuantan Tunnel, the 1.1km-long Paka Tunnel, and the 871m-long Dungun Tunnel. The longest tunnel measuring 7km will be built in the Jelebu-Semenyih area.

The line will also feature multiple viaducts of approximately 100km in length.

Contractors involved
CCCC is the main contractor, while HSSI was appointed to provide supervising consultancy services, detail design, and shop drawing design consultancy services for the East Coast rail link.

Bursa Malaysia was selected as the engineering and project management consultant for the project, while logistics services are provided by FGV Holdings.

AECOM was contracted to supervise the stations, viaducts, tunnels, and depots of the project.

SANY supplied construction equipment such as cranes, rotary drilling rigs, concrete pump machinery and excavators.

ECRL project benefits
Cooperation between MRLSB and CCCC will increase the involvement of local contractors in ECRL’s civil works up to 40%. It will also improve bilateral relations between both countries.

The project is expected to generate jobs worth MYR17.6bn ($4.2bn) during the construction.

It will boost small and medium-sized businesses, as well as increase the demand for housing, supplies, and transport in the regions along the East Coast Rail Link.

The Kuantan Port-ECRL-Port Klang section will shorten the travel time between the two ports, thus benefiting trade in the region.

Freight transport along the East Coast rail link will account for 70% of the total revenue generated by the rail network, while the remaining 30% will be driven by passenger transport.

Pahang state govt starts acquiring land for ECRL project

KUANTAN (Nov 19): The state government has started the process of acquiring land for the East Coast Rail Link (ECRL) project in the state on Oct 30, after it was postponed on July 3, the Pahang state legislative assembly was told today.

Menteri Besar Datuk Seri Wan Rosdy Wan Ismail said, in total, the ECRL project in Pahang which will pass through Kuantan, Maran, Bera and Temerloh will involve 978.767 hectares of land from various land status.

“This will include 379,184 hectares of state government land, private land (542.58 hectares), forest reserves (44.074 hectares) and Federal land (12.929 hectares),” he told the assembly in Wisma Sri Pahang here.

Wan Rosdy said this in reply to a question from Mohd Sofian Abd Jalil (PAS-Luit) who wanted to know about the status of the land in Pahang involved in the ECRL project.

Meanwhile, state Human Resources, Youth, Sports and Non-governmental Organisations Committee chairman, Datuk Seri Mohd Johari Hussain, said Pahang athletes who will take part in the Malaysian Games (SUKMA) 2020 will have to undergo a compulsory pre-games doping test six months before the start of the games.

In reply to a question from Datuk Mustapa Long (BN-Padang Tengku), he said the decision was made by the Pahang Sports Council (PSC) to prevent the occurrence of athletes’ involvement in illicit substances.

“This test involves sports that have a high risk of substance abuse especially in the athletes’ food supplements and the test will be fully managed by the Malaysian Anti-Doping Agency (ADAMAS).

He said stern action will also be taken towards athletes who were involved with doping issues such as allowances suspension for both athletes and their coaches so that they will work as a team to avoid the problem.

“The PSC will obtain the full report of athletes with doping issues from the related association and ADAMAS, and based on the report, an internal trial will be held involving the athletes, coaches and associations,” he said.

One way to overcome the free-rider problem is a technique known as a prepackaged bankruptcy, in which creditors agree to a plan of reorganization prior to the bankruptcy filing. Because negotiations have already been completed, a prepackaged bankruptcy is reasonably expected to be dispatched in months rather than years; the duration is not much greater than the time involved in completing an exchange offer. The advantage of a prepackaged bankruptcy over an exchange offer is that since a majority in number and two-thirds of the dollar amount of each creditor class must approve a bankruptcy plan, up to one-third of the dollar amount of a class can be compelled to go along with the other creditors, effectively eliminating the freerider problem. It seems likely that there will be increased use of the prepackaged bankruptcy in future efforts to restructure overleveraged companies in order to expedite the reorganization process, avoid the high administrative costs of a traditional Chapter 11 filing, and circumvent the free-rider problem.


If measures to keep the patient alive prove unsuccessful, the third option is to file for court protection under Chapter 11 of the federal bankruptcy code and attempt to reorganize the debtor with a more viable capital structure. This is typically a last resort, however, for there is still considerable stigma attached to bankruptcy.

Investing in Financially Distressed and Bankrupt Securities: Issuer Responses to Financial Distress

There are three principal alternatives for an issuer of debt securities that encounters financial distress:
continue to pay principal and interest when due,
offer to exchange new securities for securities currently outstanding, or
default and file for bankruptcy.
A potential investor in distressed securities must consider each of these three possible scenarios before committing capital.

Financially troubled companies can try to survive outside bankruptcy by resorting to
cost cutting,
asset sales, or
an infusion of outside capital.
Such efforts can be successful, depending on the precise cause of the debtor's woes. Short-term palliatives, however, can contribute to the erosion of long-term business value.

Efforts to conserve cash by cutting back inventory, stretching out accounts payable, or reducing salaries, for example, can get a business through a short-term crisis, but in the long run some of these measures may hurt relationships with customers, suppliers, and employees and result in a diminution of business value.

A second option for a company is to make an exchange offer to replace outstanding debt and, where relevant, preferred stock with new securities. The possibility of an exchange offer adds a strategic dimension to investing in financially distressed securities absent from most passive investments. An exchange offer is an attempt by a financially distressed issuer to stave off bankruptcy by offering new, less-onerous securities in exchange for some or all of those outstanding.

An exchange offer can serve as an out-of-court plan of reorganization. Sometimes an offer is made to exchange for only one security; perhaps the issuer needs only to extend an upcoming maturity. Other times most or all outstanding debt securities and, where relevant, preferred stock are offered the opportunity to exchange.

Exchange offers are difficult to complete. Typically they involve persuading debt holders (and preferred stockholders, if any) to accept less than one dollar's worth of new securities for each current dollar of claim against the debtor. The greatest difficulty in consummating an exchange offer is that, unlike stockholders, bondholders cannot be compelled to do anything. Depending on state law, a vote of 50 percent or 67 percent of the stockholders of a company is sufficient to approve a merger; the minority is compelled to go along. However, the majority of a class of bondholders cannot force the minority to accept an exchange offer. This results in a free-rider problem since the value of "holding out" is typically greater than the value of going along with a restructuring.

Suppose Company X needs to cut its debt from $100 million to $75 million and offers bondholders an opportunity to exchange their bonds, currently trading at fifty cents on the dollar, for new bonds of equal seniority valued at seventy-five. This offer may be acceptable to each holder; individually they would be willing to forego the full value of their claims in order to avoid the uncertainty and the delay of bankruptcy proceedings as well as the loss of the time-value of their money. They may be concerned, however, that if they agree to exchange while others do not, they will have sacrificed 25 percent of the value owed them when others have held out for full value. Moreover, if they make the sacrifice and others do not, the debtor may not be sufficiently benefitted and could fail anyway. In that event those who exchanged would be rendered worse off than those who did not because, by holding a lower face amount of securities, they would have a smaller claim in bankruptcy.

An exchange offer is somewhat like the Prisoner's Dilemma. In this paradigm two prisoners, held incommunicado, are asked to confess to a crime. If neither confesses, they both go free. If both confess, they incur a severe punishment but not a lethal one. If one confesses and the other holds out, however, the holdout will be executed. If they could collude, both prisoners would hold out and go free; held in isolation, each fears that the other might confess.

The Prisoner's Dilemma is directly applicable to the bondholders in an exchange offer. Each might be willing to go along if he or she could be certain that other holders would also, but since no bondholder could be certain of others' cooperation, each has a financial incentive to hold out. Exchange offers often require a very high acceptance rate in order to mitigate this problem. If all bondholders could be brought together, there might be a chance to achieve voluntary cooperation. Historically, however, bondholders have been a disparate group, not always even identifiable by the debtor and hard to bring together for negotiations.

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20. Average people never make the connection between money and health. Rich people know money can save your life.
While the middle class squabbles over the virtues of Obamacare and their company’s health plan, the super wealthy are enrolled in a super elite “boutique medical care” association, Siebold says.

“They pay a substantial yearly membership fee that guarantees them 24-hour access to a private physician who only serves a small group of members,” he writes.

“Some wealthy neighborhoods have implemented this strategy and even require the physician to live in the neighborhood.”

21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all.
The idea the wealth must come at the expense of family time is nothing but a “cop-out”, Siebold says.

“The masses have been brainwashed to believe it’s an either/or equation,” he writes. “The rich know you can have anything you want if you approach the challenge with a mindset rooted in love and abundance.”

11. Average people believe the markets are driven by logic and strategy. Rich people know they’re driven by emotion and greed.
Investing successfully in the stock market isn’t just about a fancy math formula.

“The rich know that the primary emotions that drive financial markets are fear and greed, and they factor this into all trades and trends they observe,” Siebold writes.

“This knowledge of human nature and its overlapping impact on trading give them strategic advantage in building greater wealth through leverage.”

12. Average people live beyond their means. Rich people live below theirs.
“Here’s how to live below your means and tap into the secret wealthy people have used for centuries: Get rich so you can afford to,” he writes.

“The rich live below their means, not because they’re so savvy, but because they make so much money that they can afford to live like royalty while still having a king’s ransom socked away for the future.”

13. Average people teach their children how to survive. Rich people teach their kids to get rich.
Rich parents teach their kids from an early age about the world of “haves” and “have-nots,” Siebold says. Even he admits many people have argued that he’s supporting the idea of elitism.

He disagrees.

“[People] say parents are teaching their kids to look down on the masses because they’re poor. This isn’t true,” he writes. “What they’re teaching their kids is to see the world through the eyes of objective reality––the way society really is.”

If children understand wealth early on, they’ll be more likely to strive for it later in life.

14. Average people let money stress them out. Rich people find peace of mind in wealth.
The reason wealthy people earn more wealth is that they’re not afraid to admit that money can solve most problems, Siebold says.

“[The middle class] sees money as a never-ending necessary evil that must be endured as part of life. The world class sees money as the great liberator, and with enough of it, they are able to purchase financial peace of mind.”

15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.
While the rich don’t put much stock in furthering wealth through formal education, they appreciate the power of learning long after college is over, Siebold says.

“Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful,” he writes.

“The middle class reads novels, tabloids and entertainment magazines.”

16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.
The negative money mentality poisoning the middle class is what keeps the rich hanging out with the rich, he says.

“[Rich people] can’t afford the messages of doom and gloom,” he writes. “This is often misinterpreted by the masses as snobbery.

Labeling the world class as snobs is another way the middle class finds to feel better bout themselves and their chosen path of mediocrity.”

17. Average people focus on saving. Rich people focus on earning.
Siebold theorizes that the wealthy focus on what they’ll gain by taking risks, rather than how to save what they have.

“The masses are so focused on clipping coupons and living frugally they miss major opportunities,” he writes.

“Even in the midst of a cash flow crisis, the rich reject the nickle and dime thinking of the masses. They are the masters of focusing their mental energy where it belongs: on the big money.”

18. Average people play it safe with money. Rich people know when to take risks.
“Leverage is the watchword of the rich,” Siebold writes.

“Every investor loses money on occasion, but the world class knows no matter what happens, they will aways be able to earn more.”

19. Average people love to be comfortable. Rich people find comfort in uncertainty.
For the most part, it takes guts to take the risks necessary to make it as a millionaire––a challenge most middle class thinkers aren’t comfortable living with.

“Physical, psychological, and emotional comfort is the primary goal of the middle class mindset,” Siebold writes.

World class thinkers learn early on that becoming a millionaire isn’t easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty.”

21 Ways Rich People Think Differently

1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.
“The average person has been brainwashed to believe rich people are lucky or dishonest,” Siebold writes.

That’s why there’s a certain shame that comes along with “getting rich” in lower-income communities.

“The world class knows that while having money doesn’t guarantee happiness, it does make your life easier and more enjoyable.”

2. Average people think selfishness is a vice. Rich people think selfishness is a virtue.
“The rich go out there and try to make themselves happy. They don’t try to pretend to save the world,” Siebold told Business Insider.

The problem is that middle class people see that as a negative––and it’s keeping them poor, he writes.

“If you’re not taking care of you, you’re not in a position to help anyone else. You can’t give what you don’t have.”

3. Average people have a lottery mentality. Rich people have an action mentality.
“While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems,” Siebold writes.

“The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It’s the average person’s level of thinking that breeds this approach to life and living while the clock keeps ticking away.”

4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.
“Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge,” he writes.

“Meanwhile, the masses are convinced that master’s degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness…The wealthy aren’t interested in the means, only the end.”

5. Average people long for the good old days. Rich people dream of the future.
“Self-made millionaires get rich because they’re willing to bet on themselves and project their dreams, goals and ideas into an unknown future,” Siebold writes.

“People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression.”

6. Average people see money through the eyes of emotion. Rich people think about money logically.
“An ordinarily smart, well-educated and otherwise successful person can be instantly transformed into a fear-based, scarcity driven thinker whose greatest financial aspiration is to retire comfortably,” he writes.

“The world class sees money for what it is and what it’s not, through the eyes of logic. The great ones know money is a critical tool that presents options and opportunities.”

7. Average people earn money doing things they don’t love. Rich people follow their passion.“To the average person, it looks like the rich are working all the time,” Siebold says. “But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it.”

On the other hand, middle class take jobs they don’t enjoy “because they need the money and they’ve been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort.”

8. Average people set low expectations so they’re never disappointed. Rich people are up for the challenge.
“Psychologists and other mental health experts often advise people to set low expectations for their life to ensure they are not disappointed,” Siebold writes.

“No one would ever strike it rich and live their dreams without huge expectations.”

9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.
“That’s why people like Donald Trump go from millionaire to nine billion dollars in debt and come back richer than ever,” he writes.

“While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it’s a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results.”

10. Average people believe you need money to make money. Rich people use other people’s money.
Linear thought might tell people to make money in order to earn more, but Siebold says the rich aren’t afraid to fund their future from other people’s pockets.“Rich people know not being solvent enough to personally afford something is not relevant. The real question is, ‘Is this worth buying, investing in, or pursuing?'” he writes.

yup agree to both of you, our country needs to pay for conman company 1mbd scandal! so be prepare, prepare for more lubang besar to cover

good morning to all ageson investors!

It's looking good guys..

This share is going one way, its up up up..

Cheers!

A very Strong of upward surge for ageson 7145 is coming.. Which we had not seen before.. We all have to pray hard, that there won t be any disturbance from any parties, who had miss the run, and will try to pull the price down.. Usually research houses will do this... Amin we pray

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Malaysia rail project to resume after China agrees to cost cut
Malaysia's new government stopped work on 688km project last year, amid concern about hefty price tag.
Kuala Lumpur, Malaysia - Malaysia will resume work on the multi-billion dollar East Coast Rail Link (ECRL) after months of negotiations with the China Communications Construction Company (CCCC) and the Chinese government brought the cost down by a third.

The cost of the first two phases of the line was reduced from 65.5 billion Malaysian ringgits ($15.9bn) to 44 billion ($10.6bn), the Prime Minister's Office said in a statement.

Malaysia said it welcomed the signing of a supplemental agreement between Malaysia Rail Link and the CCCC, the main contractor, which would pave the way for construction on the 688km railway to resume.

"This reduction will surely benefit Malaysia, and lighten the burden on the country's financial position," it added. Further details are scheduled to be announced on Monday.

READ MORE
Southeast Asia wary on China, Belt and Road initiative: Survey
The electrified railway is designed to connect Malaysia's capital with the towns on the peninsula's east and northeast and, backed by loans from China, was touted as an economic "game changer" by former Prime Minister Najib Razak.

Critics said it benefited China more than Malaysia. China is building a deep-sea port on Malaysia's east coast and the railway is a key link in its Belt and Road Initiative.

Najib was overthrown in a general election nearly a year ago amid public anger at allegations of wrong-doing at state fund, 1MDB.

The ECRL project was stopped by the new administration shortly afterwards because it was too expensive. Prime Minister Mahathir Mohamad said he was worried that the cost of construction would leave the country indebted for a generation.

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To those who have not collected, don't stop till you get enough....

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Dedication to our Ageson7145: From this moment

https://youtu.be/DZWYn7VCseY

One for all. All for one.

We are all UNITED!!!

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SARS-LIKE OUTBREAK SUSPECTED IN WUHAN
BEIJING • Chinese experts are investigating an outbreak of a respiratory illness in the central city of Wuhan that some have likened to the 2002-2003 outbreak of Sars (Severe Acute Respiratory Syndrome).

The city's health commission said in a statement yesterday that 27 people had fallen ill with a strain of viral pneumonia, seven of whom were in serious condition. However, the health commission said the cause of the outbreak was still unclear and called on citizens not to panic.

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good morning sahabat ageson,


today I collected my ageson shares at 0.10

Today I have put more queue at 0.095
just in case if it drops

Otherwise, I see you at 0.45

Cheers!

plane crash, bye bye

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sell airasia today, going to sapu ageson 7145 today. railway project going to announce soon.

WHY AGESON 7145?

-AGESON has the lowest PE compares to other CONSTRUCTION stock, we believe stock price is now undervalued, will catch up soon or sooner

- CONSTRUCTION sector is the most anticipated ANYTIME

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Announcing latest good news

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Only minor touch up for perfection

Will await official launch soon

Please stay tuned

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