Crux of Tony Pua's argument sits on this statement:
"However, based on the study by the independent engineering consultant, MRT Corp should expect total savings between RM4.19 to RM5.79 billion for the estimated remaining 60% portion of works yet to be completed."
but Gamuda disagrees with the qualification of this engineering consultant...
1. The original Underground contract was awarded for RM15.49 billion. MRT Corp awarded additional RM1.2 billion of variation orders which resulted in the revised contract value of RM16.71 billion.
2. After numerous meetings and discussions, you wrote to the Minister on 15 August to offer a revised price of RM15.1 billion. This was mostly a result of shelving the 2 underground stations at Bandar Malaysia North and South.
3. Subsequently on 7 Sep, you offered to reduce the price further to RM14.58 billion for the Underground contract (making it RM32 billion for the entire MRT2 project). This represented a cost saving of RM2.13 billion or a 12.7% reduction. In the words of the Gamuda director at the meeting with the Minister on 4 Sep – “we offer what we can offer, but anything beyond that will be meaningless to continue”.
4. However, based on the study by the independent engineering consultant, MRT Corp should expect total savings between RM4.19 to RM5.79 billion for the estimated remaining 60% portion of works yet to be completed. Yes, this potential savings is just for the balance of works to be completed. Imagine the potential savings if it was for the entire contract.
die Gamuda now in open war of words with the PH govt. Why so stupid? PH just won a bitterly fought election with majority votes to overthrow a 61 years old kleptocratic govt. Threatening 20,000 job loss on PH is unfair and un-Malaysian. Good luck to all the Board of Directors. What a bunch of numbskull! The Head of Investor Relations should resign for their ill-advised decision.
Gamuda really got the nerve to use multimedia to blackmail the government with the 20,000 jobs at stake. There must be goons inside that think they are still all powerful like in pre GE14 days. Time to put a stop to the feeding of taxpayers' money.
btw, how many malaysians actually play the stock market? U go to m'kini u see many there but here????? Of course sore loser in gamuda@those who bought gamuda must be feeling the sting very deeply. Well, u rolled your head in knowing the risk, u don't blame gomen when u lose money.
Its about efficiency. The lowest cost, highest quality manufacturer / service provider should always produce the product / provide the service to its maximum. That is how maximum economic benefit is obtained. Economics, my dear Watson.
In the end, the needs of the many, outweigh the needs of the few
Did you mean Gamuda is not efficient. Besides Gamuda, any local companies have the skill to carry out this underground job. Think so easy. Cost can be discussed internally but open letter is bad method to scare all investors.
Gamuda Geng! A local construction company dared to fight back with the government. If the company were located in US then it might not have to worry much in government intervention. This is Boleh Land man....is it smart enough to mess up with the government?
Gamuda-MMC contract termination is just the beginning, Capital gain tax to squeeze all stock traders & investors will kill all of you! Hidup PH! haha..
Let see whether Gamuda costing expensive for their underground MRT line 2 construction or not. Just take a look of Spore Thomson Line, a fully underground MRT line to be connected to JB in 2019. Thomson Line cost of construction estimated to be S$18b (MYR54b) with length of 43km. Our MRT Line 2 Sg Buloh-Pjy with the underground portion, total length is 9.5km with estimated cost of construction MYR16.7b....If u apportion the with Spore line, total cost for the 9.5km underground 18*/43*9.5=S$3.98b=MYR12b...Why Gamuda charging MYR16.7? Don tell me our land cost and labour cost both are more expensive than Spore? The difference of 4.7b is what Tony Pua is looking at... https://en.wikipedia.org/wiki/Thomson%E2%80%93East_Coast_MRT_line
Our LGE doing great job. Independent consultants did stringent costing. Gamuda, mmc must reduce more the balance of the project to help msia to be on right footing again. Great job PH gomen..Syabas
Everyone, look.at the big picture. You paperplane, you suffer a few thousand paperless, BUT we don't want our treasury to be raped which belongs to msian rakyat. All the looting by all, MUST stop. PH gomen doing great job. Msia will fly line Asian Tiger again, once all the looting of our treasury stops.
May I konw how much the salary for Directory and high management of GAMUDA?? Recently I saw many people drive Mercedes, BMW, Porsche, I believe most of them are high management level company worker.. .
PH government is doing right thing. MMC-Gamuda dont threat with the jobless issue... But no Capital Gain Tax plssss....if not i will be very disappointed
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....
LimGuanEng
20 posts
Posted by LimGuanEng > 2018-10-10 09:52 | Report Abuse
How many support Pakatan actually for your RM 5.2 billion? 100? How abt those against BN GST?