Government to fund MRT3, hybrid financing model scrapped.... They add that Malaysian Resources Corp Bhd (MRCB) has put in the lowest bid for CMC301 — the depot segment as well as a 6km track linking Pandan to Jalan Cheras with some elevated portions — at RM2.9 billion.
However, TRC Synergy Bhd’s bid at RM3.1 billion is favoured to win, considering its track record in constructing depots and associated works for the MRT Kajang and Putrajaya Lines, say the sources. Nevertheless, MRCB’s track record in the construction of the LRT3 as the turnkey contractor is still being considered by MRT Corp.
From ChatGPT: The material litigation arbitration between MYTV Broadcasting Sdn Bhd and Telekom Malaysia Berhad (TM) relates to a dispute over a digital terrestrial television (DTT) infrastructure project in Malaysia.
In 2014, the Malaysian government awarded a contract to MYTV to build and operate a nationwide DTT infrastructure, with TM as the key network service provider. Under the contract, MYTV and TM were to work together to build and maintain the DTT network, with MYTV responsible for providing the content and services.
However, in 2017, MYTV initiated arbitration proceedings against TM, alleging that TM had breached the agreement by failing to provide the required network services, resulting in delays and cost overruns for MYTV. MYTV sought compensation and termination of the agreement.
TM denied the allegations and counterclaimed for breach of contract by MYTV, claiming that MYTV had failed to meet its contractual obligations, including timely delivery of content and services.
The arbitration proceedings have been ongoing, and as of TM's latest annual report in 2021, the company has stated that the outcome of the arbitration cannot be ascertained at this time, and it is not possible to estimate the potential financial impact of the outcome on TM's financial position and performance.
The outcome of the arbitration could have a material impact on TM's financial performance and reputation, as well as on the broader DTT industry in Malaysia. However, until the arbitration is resolved, the exact impact cannot be determined.
https://www.amanatlr.com/about-us.html Amanat Lebuhraya Rakyat Berhad ("ALR") is a private company established under the Companies Act 2016, in late 2021, with the sole purpose of undertaking the business of a holding company of highway concessions. ALR is in the process of acquiring four highway concession companies, Shah Alam Expressway (KESAS), Western Kuala Lumpur Dispersal Link (SPRINT Highway), Lebuhraya Damansara-Puchong (LDP) and Stormwater Management and Road Tunnel (SMART), by raising funds through Sustainability Sukuk or Sustainable Responsible Investment Sukuk.
ALR and its subsidiaries will be overseen by a board of directors ("BoD") and the four concession companies will continue to operate and perform maintenance of the highways with the existing management team and staff intact, upon the completion of our proposed acquisition.
ALR's BoD have full fiduciary duty to the company's capital providers. ALR's BoD are also its shareholders and ALR's shareholders are its BoD.
ALR's shareholders are "not-for-profit" motivated and thus cannot extract any dividends nor distribution whatsoever, from ALR.
Therefore, all and any profits generated through the operation of these four highway concessions must be channelled purely for the servicing and early redemption of ALR's financial debts, which is solely to the benefit of the motoring rakyat since ALR is obligated to return the concessions to the Government as soon as its financial debts have been fully redeemed.
Under our ALR structure, the more traffic there is on our highways, the shorter the concession will be.
Naphtha now is USD1100/ton. Up from USD600/ton since 1 March. So, what is naphtha used for? The main uses of naphtha fall into the general areas of (1) solvents (diluents) for paints, for example; (2) dry-cleaning solvents; (3) solvents for cutback asphalt; (4) solvents in the rubber industry; and (5) solvents for industrial extraction processes.
Q2 result will be out end of next week. I guess EPS will be around 1.5 sen. So, price will be down again as cummulative 4 quarter EPS may only about 6 sen. If trade with 12x, then the price may be about 70 sen. So, trade carefully.