• PAT from Malaysian Operations in 4Q 2022 was RM96.7 million.
• FY2022 PAT from Malaysian Operations of RM281.3 million is the Group’s highest ever PAT.
• The higher WACC contributed to the larger impairment of RM81.0 million recognised by EcoWorld Malaysia in 4Q 2022 (which does not involve a cash outflow) on its investment in EcoWorld International.
• Arising from the impairment of investment and higher share of loss in EcoWorld International, EcoWorld Malaysia recorded a PAT of RM1.8 million in 4Q 2022.
• Notwithstanding the share of EcoWorld International’s losses and the RM81.0 million impairment recognised in 4Q 2022, EcoWorld Malaysia remained profitable in FY2022 with RM157.2 million PAT achieved due to record high PAT of its Malaysian operations.

HOC 2.0 is on the way.

"The National Housing Department DG Datuk Jayaselan Navaratnam said the extension of the Home Ownership Campaign (HOC) is currently pending on the government’s approval.

“We are hoping that the additional 10% discount under the HOC will be available for this carnival and would cushion the rising interest rate and inflationary pressures to provide affordable prices for the people,” Navaratnam told reporters in the same press conference.

https://themalaysianreserve.com/2022/07/07/rehda-calls-for-home-purchases-before-interest-rates-rise/

Bank Negara will most likely increase the OPR by 25 basis points.

This is still acceptable.

The upcoming quarterly report is expected to be good. If the company can earn at least 60 million and announce at least 2 sen dividend, the share price will be on uptrend again.

No panic. The loss consists mainly of an impairment loss arising from reclassification of investment in ASPL as an associated company to an investment of RM25.912 million.

Their own businesses have been normalized especially the property segment.

The collaboration with CRRC, STO and Hankyu Hanshin are extra bonuses.

Ireka, Japan's Hankyu Hanshin in RM400m property project in Nilai

KUALA LUMPUR: Ireka Corporation Bhd is teaming up with Japan's Hankyu Hanshin Properties Corp to undertake the Rimbun Kasia property development in Nilai with a GDV of over RM400mil.

Ireka said on Monday it had entered into agreements with Osaka-based Hankyu Hanshin – a unit of Hankyu Hanshin Holdings, Inc. Ireka will hold a 55% stake in the JV company Meadowfield Sdn Bhd while Hankyu Hanshin will hold the other 45%.

The Rimbun Kasia development is a new residential enclave covering five parcels of a residential project, and one parcel of commercial project, over a 30.56-acre piece of land located in the town of Nilai.

Initially, the JV will develop the Dwi@Rimbun Kasia project, consisting of 382 residential units in a nine-storey block, and another parcel of land which will have 465 residential units in two blocks of 29 and 19-storeys.

“These projects will have a combined GDV of over RM400mil. The remaining land parcels at Rimbun Kasia shall be developed by Meadowfield at subsequent stages following the launch of the first two developments.

“These properties will be developed under the ZenZ brand, the sister brand to Ireka’s iconic i-ZEN brand, and also leveraging off Hankyu Hanshin’s highly successful Geo brand of properties,” it said.

Ireka group managing director, Datuk Lai Voon Hon stated: “I look forward to the joint venture with Hankyu Hanshin because it will enhance the Rimbun Kasia development, leveraging on their vast experience in the affordable housing sector, track record and financial strength.

“This is very exciting for us because the collaboration will also provide a strong foundation and a competitive advantage to the Rimbun Kasia development. I am very proud that Hankyu Hanshin has selected Ireka to be their development partner as they seek to expand their operations in Malaysia. The Rimbun Kasia development will be their first project in Malaysia.”

https://www.thestar.com.my/business/business-news/2018/04/09/ireka-japan-hankyu-hanshin-in-rm400m-property-project-in-nilai/

It still will break through RM1 sooner or later. The reasons are very obvious. Do your own work.

温世麟凭单专栏：ASEANA产业旗下如玛酒店（The Ruma）预料在2018年次季开张营业，这将为ASEANA产业带来过亿令吉的盈利，同时，直接持有如玛酒店30%的毅成，将在2019财年大唱丰收。

Latest QR report: On the property development front, construction of The RuMa Hotel and Residences, KLCC ( "The RuMa") which is 70% owned by ASPL and 30% by the company, is expected to complete in April 2018. ASPL adopted IFRIC 15- Agreements for Construction of Real Estate, which prescribes that revenue and profit be recognised only when the properties are completed and occupancy permits are issued. Hence, we expect the RuMa to contribute positively to the results of the Group in the next financial year.

April is fast approaching. Something good is coming soon.

The share price above RM1 is just a matter of time.

中国中车撑腰
毅成-WB明年(2018年）有看头/温世麟

2017年12月10日

毅成（IREKA，8834，主板建筑股）在上周一宣布，中国中车集团旗下中车城市交通（欧洲）有限公司，将通过私下配售成为持有公司股权8.5%的大股东之一。

该公司母股在消息出炉后稳步上涨，最高在上周四升至68仙。不过，该股在上周五调整至65仙结束上周交易。该公司凭单毅成WB（IREKA-WB）则以12.5仙收市。

中国中车是是全球规模最大、品种最全、技术领先的轨道交通装备供应商。

2019财年料唱丰收

该集团也是财富全球500强企业。这次入股毅成并和后者组织联营公司，是要在本区域交通基建项目分一杯羹。

毅成在11月底宣布的2018财年首半年（截至2017年9月30日），营业额增长15%至1亿4348万令吉，并获得401万令吉的净利。

毅成的盈利很受旗下英国上市的联号公司ASEANA产业影响。

ASEANA产业旗下如玛酒店（The Ruma）预料在2018年次季开张营业，这将为ASEANA产业带来过亿令吉的盈利，同时，直接持有如玛酒店30%的毅成，将在2019财年大唱丰收。

母股潜力不容小觑

毅成WB目前的估价虽高，但其母股在未来一年的上升潜力不容忽视。

有了中车集团这样的大股东在背后撑腰，毅成有望参与我国基建建筑项目如东海岸铁路以及隆新高铁，该公司凭单也就有望成为马股未来一年的黑马。

http://www.enanyang.my/news/20171210/%e4%b8%ad%e5%9b%bd%e4%b8%ad%e8%bd%a6%e6%92%91%e8%85%b0br-%e6%af%85%e6%88%90-wb%e6%98%8e%e5%b9%b4%e6%9c%89%e7%9c%8b%e5%a4%b4%e6%b8%a9%e4%b8%96%e9%ba%9f/


Latest QR report: On the property development front, construction of The RuMa Hotel and Residences, KLCC ( "The RuMa") which is 70% owned by ASPL and 30% by the company, is expected to complete in April 2018. ASPL adopted IFRIC 15- Agreements for Construction of Real Estate, which prescribes that revenue and profit be recognised only when the properties are completed and occupancy permits are issued. Hence, we expect the RuMa to contribute positively to the results of the Group in the next financial year.

(Starting from April 2018 RM100m+ profits will be gradually flowing in.)


伦敦Aseana售马越资产

赖玟妃指出，毅成持股23%的伦敦上市公司Aseana产业，计划逐步脱售马越估值高达1.8亿美元（7.07亿令吉）的资产，有可能会派发特别股息。

她说，毅成不会再加码投资Aseanna产业，后者也正逐步脱售在大马和越南的资产。所有资产套现后，会考虑派发特别股息。

http://www.enanyang.my/news/20180125/%e5%81%95%e4%b8%ad%e8%bd%a6%e5%9f%8e%e4%ba%a4%e4%b8%8e%e7%94%b3%e9%80%9a%e5%bf%ab%e9%80%92br-%e6%af%85%e6%88%90%e8%ae%be%e7%89%a9%e6%b5%81%e6%9e%a2%e7%ba%bd%e6%94%bb%e4%b8%9c%e7%9b%9f/

(Aseana will bring in another RM100m+ profits as the company successfully divest its portfolio of assets)

The market cap of IREKA is RM129m. The profits from these 2 sources already exceed its market cap. The only way to reflect its true value is share price going up.

Almost sure win for long term investment.

About Ireka Corporation Berhad:
Ireka Corporation Berhad (‘Ireka’) www.ireka.com.my was founded in 1967. Ireka was listed on the Second Board of Bursa Malaysia on 12 July 1993, and transferred to the Main Board (now known as Main Market) on 13 June 2002. Currently, the Group’s activities are divided into three core businesses; namely Infrastructure, Real Estate, and Technologies. In its over five decades of operation in the Infrastructure business, Ireka has distinguished itself by its involvement in constructing some of the country's most notable projects; such as the MRT V7 rail line, the Kuala Lumpur International Airport runway, Kuala Lumpur Middle-Ring Road II, North-South Expressway, Putrajaya Government Administrative Offices, DiGi Corporate Office (D’House), Technology Park Malaysia, The Westin Kuala Lumpur, OCBC Head Office and Wisma AIG. For more information, please visit www.ireka.com.my

About CRRC Group & CRRC UT:
CRRC Group is the world’s largest manufacturer of rolling stock and rail related products and systems. CRRC Urban Traffic, being a member of the CRRC Group, is a leading player in providing investments, engineering technology and construction solutions in the rail and urban transportation sectors. For more information, please visit http://www.crrcsh.cc

About STO Express:
STO is China’s leading integrated logistics services company, focusing on express delivery of municipal, inter-provincial and international courier items. STO presently operates its business internationally in countries including China, Korea, United States, Australia, United Kingdom and Japan. STO is listed on the Shenzhen Stock Exchange.
For more information, please visit http://www.sto.cn/

CRRC UT, STO EXPRESS AND IREKA ESTABLISH FORMAL WORKING RELATIONSHIP FOR FUTURE DEVELOPMENTS

KUALA LUMPUR, 24 January 2018 – Ireka Corporation Berhad (“Ireka”), CRRC Urban Traffic Co Ltd (CRRC UT) and STO Express Co Ltd (STO) today signed a Memorandum of Understanding (“MOU”) to establish collaborative working between them.

CRRC UT is a member of the China based CRRC Group and is the world’s largest manufacturer of rolling stock, rail and transportation related products and systems. On December 4, 2017, CRRC UT also took up a strategic stake in Ireka, emerging as a substantial shareholder, holding approximately an 8.48% equity interest in the Company. At the same time a complementary MOU was signed with Ireka to exclusively
pursue, among others, urban transportation and logistics business areas.

STO is China’s largest integrated logistics services company, focusing on express delivery of courier items.

The MOU signed today between Ireka, CRRC UT and STO establishes a formal and exclusive working relationship to cover the Logistics business area focusing on:

- Investment and development of logistics warehouses, distribution centres and other ancillary real estate facilities to support STO’s business expansion in Malaysia and South East Asia; and

- Investment and supply of infrastructure and equipment including logistics, commercial and special purpose vehicles to support STO’s business expansion in Malaysia and South East Asia.

STO has vast experience of supporting the exponential growth of e-commerce business in China over the last decade. STO’s expansion to the fast-growing South East Asia region is part of its continual growth plans in international markets. In March 2017, Malaysia launched its Digital Free Trade Zone (DFTZ), (the world’s first outside of China) where it will support internet companies to trade goods, provide services and cocreate solutions. It is also anticipated to create 60,000 jobs in the country by 2025. Ireka and CRRC UT will be STO’s exclusive partner in developing a strong support infrastructure for STO’s operations, both in terms of real estate, as well as in logistics and transport vehicles

For CRRC, a giant in the world’s railway transportation industry, they already have a presence in Malaysia and is an active player in the country’s rail industry through its supply of contracts for the LRT System, Express Rail Link and KTM Komuter. In its collaboration with Ireka, CRRC UT will be bringing the best of China’s green urban
transportation technology to Malaysia to improve the latter’s urban traffic. This includes super-capacitor powered electric buses and the Autonomous-Rail Rapid Transit (ART) vehicles. The ART is a first of its kind people-mover that integrates the best of a conventional tram technology with that of a leading edge rail-less and autonomous
driving technologies (see pictures). ART, already in operation in Zhuzhou, Hunan Province, China, and soon in other parts of China will also hopefully be on the roads of Malaysia in the near future. The partnership with CRRC UT will see Ireka venturing into a new business direction of urban transportation which is in line with Malaysia’s
Economic Transformation Programme, to upgrade the country’s public transportation and infrastructure system.

The partnership of Ireka, CRRC UT and STO will create a strong strategic alliance that provides an important platform for this tri-partite relationship to leverage on each other's technical knowledge, expertise and experience for expansion and growth in Malaysia and South East Asia.

Commenting on the partnership, Ireka’s Group Managing Director, Datuk Lai Voon Hon said, “Ireka has a good track record of delivering what we have agreed to do and also in diversifying our operations. Over the last 50 years, we have successfully diversified and expanded from being in construction, to property development to real estate and to
information technology. We are excited about diversifying into urban traffic solutions and rail infrastructure related projects; as well as into the world of logistics. I know that Ireka is ideally positioned to take on this new challenge because of our long track record and I
am delighted that both CRRC and STO have selected us as a trusted partner to grow their presence in Malaysia and South East Asia.”

THE END

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5673841

Good timing for Ireka to collaborate with CRRC to explore business opportunities in South East Asia considering the huge market of South East Asia for construction companies:

http://www.enanyang.my/news/20171207/1-3%e5%85%86%e6%8a%95%e8%b5%84%e4%b8%9c%e7%9b%9f%e5%9f%ba%e5%bb%ba-%e5%bb%ba%e7%ad%91%e8%82%a1%e6%98%8e%e5%b9%b4%e8%b6%85%e8%b6%8a%e5%a4%a7%e5%b8%82/

CRRC INVESTS IN IREKA

KUALA LUMPUR, 4 December 2017 – Ireka Corporation Berhad (“Ireka”) today announced that it had signed a Share Subscription Agreement and a Memorandum of Understanding (“MOU”) with CRRC Urban Traffic (Europe) Co Ltd (CRRC UT), a member of the China based CRRC Group to invest in Ireka and to establish a joint venture relationship between them. CRRC Group is the world’s largest manufacturer of rolling stock and rail related products and systems.

CRRC UT has taken up a strategic stake in Ireka and will emerge as a substantial shareholder, holding approximately an 8.48% equity interest in the Company upon completion of its share subscription. Together with the share subscription, Ireka and CRRC UT simultaneously signed an MOU to explore business opportunities in four key areas:

- Urban traffic solutions, tourism and infrastructure projects across Malaysia and South East Asia;

- Logistics, with the objective of supporting Chinese companies operating in Malaysia and South East Asia;

- Trading of construction and building materials to support Chinese companies operating in Malaysia and South East Asia; and

- Rail and infrastructure construction projects arising from China’s One Belt One Road initiative in Malaysia.

The Share Subscription Agreement and MOU are important milestone
s for a long-term strategic collaboration between Ireka and the CRRC Group. It provides a platform for both parties to leverage on each other's technical knowledge, expertise and experience for expansion and growth in these four areas. Ireka’s Board is confident that the investment from this joint venture will provide the ideal opportunity to diversify into a number of exciting new areas, in particular, urban traffic solutions and rail infrastructure related projects.

The partnership with CRRC UT will see Ireka venturing into a new business direction that is in line with Malaysia’s Economic Transformation Programme, to upgrade the country’s public transportation and infrastructure system with the aim to increase modal share of public transport to 40% by 2030. Ireka envisages this partnership with CRRC UT to provide urban traffic solutions to develop efficient integrated public transport systems will contribute positively to this goal.

A giant for the railway transportation industry in the world, the CRRC Group already has a presence in Malaysia and is an active player in the country’s rail industry through its supply of contracts for the LRT System, Express Rail Link and KTM Komuter. Ireka is ideally positioned to take on this new challenge because it has a fifty year track record in building a number of major national infrastructure projects. Ireka played a significant part in the construction of notable projects like the North-South Highways, KLIA International Airport, Cheras-Kajang Highway and the most recent MRT1 Package V7.

Commenting on the partnership, Ireka’s Group Managing Director, Datuk Lai Voon Hon said, “We are particularly pleased to welcome CRRC UT as our new strategic shareholder in the Company. The stake that CRRC UT has invested in Ireka and the upcoming joint venture is another great step forward for our Company’s growth. I am also proud that CRRC UT has selected Ireka as a trusted partner to grow their presence in Malaysia and South East Asia; and we are delighted to have a financially strong partner in the world’s largest manufacturer of rail rolling stock and urban transportation products. There is no doubt that CRRC’s technical know-how and our wide business network accumulated over the last 50 years will complement each other well. We will now begin working earnestly on our partnership plans to explore exciting business opportunities.”

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5626349

They secure more and more contracts and make a lot of money. Hope they can declare some dividend.

Good buy for dividend.

I bought a bit of this stock as the current price is low, but who know when the price will up? Good for long term investment? I think this is "high risk, high return" stock.

The latest QR is not so impressive, and the ESOS plan may affect the share price too. Hope the next QR will be good.

Mr. Choo has resigned from Board of Directors of EA HOLDINGS BERHAD. Reason: To focus on his other work commitments.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5419565

I think he is now focusing on his job in Vivocom. Expecting more plans coming up this year most likely will be announced during AGM.

The company will submit an application to transfer to Main Board next month. That will improve its reputation. The show will start after that.

LETTER OF AWARDS

The Board of Directors of Vivocom Intl Holdings Berhad (“Vivocom” or “the Company”) is pleased to announce that its subsidiary company, Neata Aluminium (Malaysia) Sdn Bhd (“Neata) had :-

1. On 18 April 2017, received and accepted a Letter of Award (“LOA”) from PJD Construction Sdn Bhd for the design, fabrication, supply, delivery and installation of aluminium and glazing works for a hotel resort on Lot 105583, Jalan Kuantan- Kemaman, Mukim Sungai Karang, Kuantan, Pahang. The contract amount is RM6.01 million. This project shall be completed within twenty-two (22) months from the date of commencement of the main contract works.

2. On 18 April 2017, received and accepted a Letter of Award (“LOA”) from PJD Construction Sdn Bhd for the design, fabrication, supply, delivery and installation of aluminium and glazing works for 2 blocks of service apartment on No. PT 19247, Genting Permai, Mukim Bentong, Pahang. The contract amount is RM13.5 million. This project shall be completed within twenty-four (24) months from the date of commencement of the main contract works.

3. On 18 April 2017, received and accepted a Letter of Award (“LOA”) from Setiakon Builders Sdn Bhd for the design, fabrication, supply, delivery and installation of aluminium and glazing works for 4 blocks of 40 storey service apartment on Lot 212-213, Persiaran Tropicana, PJU 3, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan. The contract amount is RM25.2 million. This project shall be completed within twenty-four (24) months from the date of commencement of the main contract works.

(Collectively known as the "Projects”)

The Projects are expected to contribute positively to the earnings and net assets of Vivocom for the duration of the Projects.


The company is still on right track. Expected to apply to transfer to main board next month. It's already fully qualified. Just wait for the release of audited report next month.

Many people don't believe the company because of the history of I-Power and Instacom. Actually there are some big differences. Let's see when the company keep delivering results or get one more contract from CRCC what will happen to its share price.

Those HOAs are not dead yet even if they didn't meet the deadline. For example on 26 April 2016 the company entered into a HOA with Green Ventures Development Sdn. Bhd. to be the main contractor for the development on Batu 10, Chepor, Mukim Hulu Kinta, Daerah Kinta. The deadline of this HOA is 1 June 2016.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5068745

The company received and accepted the LOA from Green Ventures on 19 Aug 2016.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5181109


We should notice the terms of the HOA stating "The final agreement is to be signed by the Parties by 1st June 2016, unless further extended by mutual agreement in writing." No further announcement about this HOA was made before or after the deadline until the company announced the LOA on 19 Aug 2016.

The project in Bandar Tasik Amanjaya worth RM758mil is a confirmed contract:

http://www.suaraperak.com/single-post/2016/08/04/MB-Inc-Bina-4000-Rumah-Mampu-Milik

The current confirmed orderbook is around RM1.8bil. This should contribute positively to revenues and profits in FY17, and bring the fair share price to above 0.20. This is still conservative. I didn't include those HOAs turning into LOAs and CRCC's contracts.

For those who missed my post earlier, you should read this article. It tells you the history of Instacom acquiring Neata Aluminium and Vivocom. Take your time on weekend to read the contents of the article:

http://www.instacom.my/Images/PressRelease/Focus_12022016.pdf

You still need to list the Bandar Tasik Amanjaya project as a confirmed contract for not misleading the readers.

In fact the affordable houses are still in high demand despite recent property slowdown.

I wouldn't say we shouldn't worry about the diluted eps forever but just it's not a matter for at least 1 year from now, and you know many things can happen in one year. That is just for WB that will be mature on 08 Sep 2018. The maturity date of WC and WD are in 2020.

I think you just illustrated an extreme worst circumstances. I don't think the price has overshot its fundamentals, unless you want a lot of margin of safely like ICAP fund manager Tan Teng Boo. I would say your article is just for reference. Everyone should do their own works.

For those of you who don't know the history of Instacom acquiring Neata Aluminium and Vivocom, go read this article.

p/s: Mr.Choo looks handsome in this interview xD

http://www.instacom.my/Images/PressRelease/Focus_12022016.pdf

Speaking of diluted eps, obviously people who are holding the warrants won't exercise all their warrants immediately because by doing so they will suffer a loss. The maturity date of Vivocom's warrant:

WB: 08 Sep 2018
WC: 22 Jan 2020
WD: 08 Jul 2020

You didn't include the project in Bandar Tasik Amanjaya worth RM758mil (four phases with each phase has a contract value of RM189.5mil, duation 36 months, and the phases may run concurrently). It's a confirmed contract.

http://www.suaraperak.com/single-post/2016/08/04/MB-Inc-Bina-4000-Rumah-Mampu-Milik

It should add RM252.67mil revenue for 2017, 2018 and 2019 respectively.

Vivocom is a well managed and disciplined company. You can't deny that. We just need Dr.Yeoh to come out and ensure the bright future of the company, then the share price will fly up again. It's as simple as that.

I have researched the attitude of many investors and come out with this conclusion.

Anyway I am still confident in Vivocom. I have holding power so there's no problem for me.

If Dr.Yeoh really thinks of leaving the company, the reason behind his decision is also important. There should be no problem in the company that we don't know. Also what's the transition plan? All these things must be cleared up so the company can move forward.

Certainly I will hold Vivocom for long term. But we need to be smart investors and can't be passive all the time. Sometimes we should demand the company to do something. I have talked with many investors and they are really skeptical about the status of Dr.Yeoh in the company. This "Dr.Yeoh potential departure" concern should be cleared up. The announcement made by the company is not enough. We need to see Dr.Yeoh appear again. Maybe he is too busy right now but he just need to show up to say something...anything about the company actually.

There are some reasons why the share price has been on pressure but there's an important one. The main issue for the depressed share price is the uncertainty of the leader. There has been speculation that Dr.Yeoh will quit the job as CEO. Although the company already clarified that Dr.Yeoh will stay but the market still speculate that he will leave soon. The departure of Dr.Yeoh will incur some uncertainties. Investing is about looking at the future. How can the share price move up if this is how its future looks like? Although I believe the company can still do well without Dr.Yeoh, I think the other vivo's supporters here think the same. It should not affect the long term prospect of the company. But this kind of uncertainties has negative impact on the share price in short term. Nobody can clarify the issue except Dr.Yeoh himself. We haven't seen Dr.Yeoh for some time. I think for the sake of shareholders Dr.Yeoh should come out and say something.

If we are investing for long term, there shouldn't be too much to worry about. This company won't go into trouble because based on its current orderbook, even deducting those HOAs, it can still make profit for the next two years. The problem is its large share base resulting in less eps. But who says the company cannot secure any more contracts next year? I think its strategic partnership with CRCC and Zhonghe Huaxing is a huge advantage that differentiate it from other construction companies.

Vivocom helped solving others problems including KLIA2 Airport Project and turning around other problematic projects. When you help solving problems, you won't cause problem for yourself. Also if you can solve problems, many people want to seek for your help. That's why Vivocom can secure many contracts. But the company is not financially strong enough yet, so they must check the background of every company they deal with before taking a project to avoid delayed payment. Taking government projects is good because government always pay on time. Even without CRCC they can obtain many contracts. But since they are CRCC's Project Delivery Partner so any subcontract from CRCC will be an added value to them.

According to Mr Choo's statement, this year there's one more project worth around RM1.2 billion yet to announce. Could it be this one from CRCC?

http://english.astroawani.com/malaysia-news/construction-gemas-jb-double-track-project-start-next-month-120884

BREAKING NEWS: Construction of Gemas-JB double track project to start in November.

This project will be awarded to CRCC.

Don't need to wait too long. We shall see whether Vivocom will get a subcontract from CRCC very soon.

http://english.astroawani.com/malaysia-news/construction-gemas-jb-double-track-project-start-next-month-120884