Technically, a descending triangle was formed...bearish...may move toward 70 sen level. Better sell / take profit / cut loss / cut profit at 75.5 sen level
SINGAPORE: Malaysia’s new government has called into question the future of multibillion-dollar rail projects since Tun Dr Mahathir Mohamad took power in May. Now it appears to be ready to proceed with at least one.
The Malaysian cabinet has given in-principle approval for a rail project linking Johor Baru in the southernmost tip of the country with Singapore, Malay Mail Online said in a report citing Transport Minister Anthony Loke. It is still looking at costs and other details.
This project was delayed by two months due to the general elections, which saw Mahathir become prime minister. A known Singapore critic, Mahathir has wanted to cancel a proposed multi-billion dollar high-speed railway connecting the city state to Kuala Lumpur as it was too expensive while saying it may happen in the future.
Mahathir’s stance prompted Singapore’s Transport Minister Khaw Boon Wan to tell parliament on July 9 that his government will seek compensation for all costs incurred if Malaysia cancels the 350-kilometer railway link between the two countries.
For now, it seems to be a go for the 4-kilometer rail line, which will be able to transport 10,000 travelers in one direction every hour between Singapore and Johor Baru.
RM1 will be coming. Relax taikor superbull11. Better buy now or cry later :) anyway, my money then I think it should be my own business right either for me to throw away or buy this counter? Or I should follow you and regret later?hehe
so what?..singapore only need to spend few hundreds million, but malaysia 100 billion...100 times more..don cry like baby la.. so desperate coz they are the one who will gets benefit more...increase real assets and tickets mostly from Singapore to KL trip.
MRCB used to be above RM1 not long ago, before the last GE. Is it true that KWSP got more than 30% of ownership in this counter? I will be receiving almost RM1.5K, from the 1.75% dividend on this coming 17/08/2018. Bought the shares just before the Ex-date.
I am reading the comments and hope to have picked up some tips/clues.
If you have RM70K with KWSP, receiving RM4,200 (6% p.a.)for a year. If you have 100,000 shares on 17JULY just to be entitled , receiveing RM1.75K soon. What if the shares appreciated to RM0.90 or RM0.80 even before end of the year? Buy buy MRCB yourself rather than allowing KWSP to buy MRCB by using your savings.
KUALA LUMPUR (Aug 7): The government would have to pay a RM4.2 billion compensation had it terminated RM31.5 billion light rail transit line 3 (LRT3)'s project delivery partner (PDP) MRCB-George Kent ..
KUALA LUMPUR (Aug 7): The government would have to pay a RM4.2 billion compensation had it terminated RM31.5 billion light rail transit line 3 (LRT3)'s project delivery partner (PDP) MRCB-George Kent Sdn Bhd's contract, said Finance Minister Lim Guan Eng.
In a parliamentary reply to Kepala Batas member of Parliament (MP) Datuk Seri Reezal Merican, Lim reiterated that the government will not re-tender the project and will continue the LRT3 with the current PDP by making it a fixed fee contract.
"The compensation to the PDP is too high if we re-tender the project. (Since) we are reviewing the project as a fixed fee contract, this means the 6% fee that was initially promised to the PDP does not exist anymore," he added.
It was previously reported that the 6% fee to PDP for work packages tendered to winning bidders would have netted MRCB a total of RM948 million.
Separately, special officer to the ministry Tony Pua said the hypothetical RM4.2 billion termination compensation to MRCB George Kent took into consideration work that has been completed, loss of profit, and work that has been awarded.
"We are stuck because of this so we cannot re-tender the project or else we have to pay them compensation. The agreement from the cabinet is that they would approve the total cost of RM16.6 billion, including land acquisition, overheads, interest during construction as well as work package contract," he told reporters at the Parliament lobby.
The Damansara MP also said the details of the project cost will be made known once the new contract is signed soon.
"We are not sure when exactly, as we have to give MRCB George Kent time to talk to their contractors also. I don't have a deadline but the agreement should be signed soon, as work needs to continue," he added.
In 2015, state-owned Prasarana Malaysia Bhd, which will operate the LRT3 project, appointed MRCB-George Kent, comprising Malaysian Resources Corp Bhd (MRCB) and George Kent (Malaysia) Bhd, as the PDP for LRT3, with an initial budget of RM9 billion for construction works and RM1 billion for land acquisitions.
The RM9 billion did not include other costs such as PDP fees (of 6%), other consultant fees, operational and overhead costs, as well as interest payments during construction, hence the cost overrun to RM31.5 billion.
The 37km LRT3, which was initially on the chopping board due to its high cost structure, would connect Klang with Bandar Utama in Petaling Jaya.
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....
robert1234
199 posts
Posted by robert1234 > 2018-08-06 15:26 | Report Abuse
bus stop 665