Ensure ECRL project boosts local rail industry Chelvam Rengasamy 9 Apr 2019, 6:24 pm (Updated 9 Apr 2019, 6:24 pm)
A A LETTER | Over the last couple of weeks, the government had echoed its stand on the most talked about East Coast Rail Link (ECRL) project. Now, it looks like the ECRL will be finally be given the go-ahead with adjustments to the pricing and scope of works.
To recap, the ECRL project was pushed ahead at lightning speed so much so the agreement was not analysed in detail to check if this project truly brings a good return for the country, its people and the local rail industry.
During the initial phase, there were some initiatives to provide some scope of works to local contractors. However, these were not much to be talked about. It certainly would not create an impact on the development of the local rail industry.
Though this project is financed by a foreign country and its entity, nevertheless one must remember that finally, the amount will be paid by the government of Malaysia. In this aspect, as the client, the government must see to it that this project rightly benefits the country and the local rail industry.
On what basis PH govn must select G Kent as ECRL or HSR contractors? Lowest cost or expertise? If lowest cost can still make a lot of money like under BN?
Buying share is like going to Genting Casino. Buying BIG or SMALL.
BIG - if you think Gkent share can go up to RM4.00 if got rail projects - 300% gain SMALL - if you think Gkent share can go back to RM1.20 - only 16% loss.
This Philips says he is a long term investor and lousy trader.
But, so far an impeccable record of excellent timing in StoneCo, PChem and Gkent.
Touch only go up immediately.
Gkent I can explain it as as being assisted by market theme of ECR. but that is only half the story.
Timing is still guts, and Philips got good guts.
cum and ex dividends.
Gkent went ex div 3 sen, on 5/4/2019, the share surged only after ex div....very interesting. Looking at its past records, the share only surge after going ex....not during cum.
why? I think a lot of shares are traded in nominees accounts. In such cases , people sell before ex date and buy back after ex date.
The other force is fund managers accumulate cum shares to get dividends. But, in this case , the force of nominee accounts bigger than this force.
TOPICS WOW 2019 | Matta Fair 2019 | Asean+ | True or Not | Do You Know | Star Golden Hearts Award MRT awards RM1b work package to China's CCC, George Kent JV CORPORATE NEWS Wednesday, 24 Aug 2016 2:32 PM MYT By Joseph Chin
MRT Corp CEO Datuk Seri Shahril Mokhtar said this work package was one of the major ones for the construction of the SSP Line. MRT Corp CEO Datuk Seri Shahril Mokhtar said this work package was one of the major ones for the construction of the SSP Line.
KUALA LUMPUR: Mass Rapid Transit Corporation Sdn Bhd has awarded a RM1.01bil work package for the MRT Sungai Buloh-Serdang-Putrajaya (SSP) Line to a joint venture between a Chinese company and George Kent.
It said on Wednesday the China Communications Construction Company Ltd holds a 51% stake in JV and George Kent the remaining 49%. The work package are for trackworks, maintenance vehicles and work trains.
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Package SSP-SY-204, for the engineering, procurement, construction, testing and commissioning of trackworks, maintenance vehicles and works trains was awarded after a meeting by the one-stop procurement committee (OSPC) chaired by Prime Minister Datuk Seri Mohd Najib Tun Abdul Razak.
MRT Corp CEO Datuk Seri Shahril Mokhtar said this work package was one of the major ones for the construction of the SSP Line.
Shahril said the successful tenderer was selected on the basis of the best evaluated tender, which means the successful tenderer may not have quoted the lowest price.
“However, for this work package, I am pleased to announce that the successful tenderer had quoted the lowest price,” he said.
He also said China Communications Construction has very good technical know-how having handled many infrastructure projects, including railway construction.
“Its joint venture with Malaysian company George Kent, which now has a strong presence in the railway industry in Malaysia, allows the MRT Project to benefit from the experience of these two very strong companies,” he said.
Shahril said the joint venture, which was one of seven tenderers, fared very well in the technical portion of the evaluation.
Among the criteria for technical evaluation were compliance with specifications required by MRT Corp, proposed solutions, performance level, track record, works programmes and compliance with key dates, project execution plan, maintenance plan, quality and site safety, health and environment assurance.
Shahril said under the SSP Line, all systems work package contractors will have to ensure that 35% of the works to be done will be awarded to Bumiputera companies.
“This is an increase from the systems contracts for the MRT Sungai Buloh-Kajang Line where it was 30%,” he said.
With this award, MRT Corp has handed out 22 work packages for the construction of the SSP Line. They comprise eight advance work packages, four viaduct packages, one underground works package, six systems work packages, two designated supplier work packages and one depot work package
Obviously, gkent is the ecrl related counter. Jv company with ecrl project main contractor cccc.. So gkent is the only ecrl related counter to give a surprise. Last year tp rm4.41
George Kent up after MyHSR announces open tender for technical consultant Syahirah Syed Jaafar / theedgemarkets.com
April 09, 2019 11:42 am +08
-A+A KUALA LUMPUR (April 9): Shares of construction group George Kent (Malaysia) Bhd are up by 9.17% on renewed optimism in the sector after the Government said it is seeking a consultant to advise on the suspended Kuala Lumpur-Singapore High-Speed Railway line (HSR).
At 10.40am, George Kent rose 11 sen to RM1.31, with 25.79 million shares changing hands. It is among the most the actively traded counter this morning. The construction index is also up by 0.49%.
Yesterday MyHSR Corp Sdn Bhd, which is owned by the Ministry of Finance, said it is seeking a Technical Advisory Consultant (TAC) for the suspended HSR project.
A Survey by The Edge Malaysia
MyHSR Corp Sdn Bhd, which was set up in 2015 to undertake the development and implementation of the railway line, said it will carry out an open tender to appoint the consultant, who will review the technical aspects of its recommended option for the project following its revision by the Malaysian Government.
Construction of the 350km HSR project was jointly suspended by the Governments of Malaysia and Singapore on Sept 5 last year, with the former seeking ways to cut the project's cost from the reported RM110 billion.
In light of the suspension, MyHSR Corp has pushed back the commencement of the line's service to Jan 1, 2031, from the initial Dec 31, 2026
ECRL project to resume at reduced scale, cost – report
An agreement has been reached by Malaysia and China for the East Coast Rail Link (ECRL) project to resume following its suspension last year, The Sun Daily quotes a report by Sin Chew Daily.
Initially priced at RM66 billion, the ECRL will have its costs cut by more than RM10 billion. The report added that both countries had come to a resolution for the re-negotiated project that includes new commercial elements which will bring added benefits to local entrepreneurs and people.
An agreement will be signed ahead of prime minister Tun Dr Mahathir Mohamad’s visit to China at the end of this month, the publication was told by its source. The chairman of the Council of Eminent Persons, Tun Daim Zainuddin, Malaysia’s representative in the negotiations, will travel to Beijing to sign the agreement
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Maynot
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Posted by Maynot > 2019-04-09 19:42 | Report Abuse
Golf buddy story is over. Gkent is trusted by PH government now. LRT3 deal went smooth between PH and Gkent