Posted by Victor Yong > 2018-10-08 11:03 | Report Abuse

Above ground portion still handle by gamuda-mmc . Open tender for the underground portion only :)


MRT2 – Govt cancels contract for underground portion, to call international tender



Posted on 7 October 2018 - 10:14pm
Last updated on 7 October 2018 - 11:12pm
sunbiz@thesundaily.com


Picture taken in July this year shows work in progress on a stretch of MRT2. Bernama pix
PETALING JAYA: The federal government will be calling for an international open tender for all unfinished underground work of the Mass Rapid Transit 2 (MRT2) project, after negotiations with existing turnkey contractor MMC-Gamuda Joint Venture to bring down total construction costs saw them agreeing on the above-ground portion but not underground segment.

"As a result, the Cabinet has decided to terminate the underground contract. All unfinished underground work will be retendered out through an international open tender process. This decision was made after considering that the federal government can achieve further significant savings by retendering the underground work package compared to the offer made by the existing contractor," Finance Minister Lim Guan Eng said in a statement today.

Costs for the underground portion stood at RM16.71 billion.

Negotiations with MMC-Gamuda JV for the above-ground works, however, were successful, with the project delivery partner (PDP) committing to completing the portion at a cost of RM17.42 billion, versus the original cost of RM22.64 billion, translating into savings of RM5.22 billion.

The savings are achieved through a reduction in cost and rationalisation in work scope without cancelling any of the above-ground stations.

The Ministry of Finance with cooperation from the Attorney-General's Chamber, the Ministry of Transport, agencies such as Mass Rapid Transit Corporation Sdn Bhd (MRTCo) and the private sector, embarked on a cost-rationalisation exercise on MRT2 in May 2018. An engineering consultancy firm was engaged to conduct the cost rationalisation.

Lim said the expected cost reduction for MRT2 will cut the fares rail passengers will have to pay, and boost public transport usage in the Klang Valley.

MRT2, also known as the Sungai Buloh-Serdang-Putrajaya Line, was approved by the Cabinet on Feb 26, 2014 with initial estimated cost of RM28 billion. This figure did not include consultant fees, PDP fees, interest cost and overhead costs for MRTCo.

However, the cost of MRT2 ballooned to RM56.93 billion due to the approval for a railway scheme that had a new line extended to Bandar Malaysia, a change in scope, depreciation of the ringgit and other factors. The overall cost comprised RM39.35 billion for construction, RM6.18 billion land acquisition, RM360 million for feeder buses and depots, RM1.2 billion others, as well as RM9.84 billion worth of interest expenses during construction.

Posted by stockintalk > 2018-10-08 11:04 | Report Abuse

Vote for BN habis sekejap masa depan Malaysia.

Posted by Victor Yong > 2018-10-08 11:06 | Report Abuse

Gamuda is still making more than rm500 mil for the fye 31.7.2018... be brave :)

Posted by stockintalk > 2018-10-08 11:07 | Report Abuse

LGE only saved cost of MRT2.
PH GOV dint terminate all mega projects, but prosponeed and review.

Posted by Lukesharewalker > 2018-10-08 11:07 | Report Abuse

wow shaved off 16 bil….no wonder fall until mother cannot recognised

Posted by pang72 > 2018-10-08 11:08 | Report Abuse

Hihi

Posted by pang72 > 2018-10-08 11:09 | Report Abuse

No one dared to buy except old man and local funds..

Posted by Victor Yong > 2018-10-08 11:11 | Report Abuse

Gamuda , construction leader in Malaysia.. cheap sale now.. :)

Posted by Victor Yong > 2018-10-08 11:14 | Report Abuse

Always above rm4 last time. Investors r waiting for such opportunity :)

Posted by CITADEL > 2018-10-08 11:14 | Report Abuse

who want to earn big money just sailang

Posted by Lukesharewalker > 2018-10-08 11:15 | Report Abuse

how much is Gamudas orderbook minus 16 bil?

Posted by Victor Yong > 2018-10-08 11:16 | Report Abuse

Look at the recent prices, fell to 3.09 and rebounded quickly

05/10/2018 3.21
04/10/2018 3.28
03/10/2018 3.33
02/10/2018 3.33
01/10/2018 3.28
28/09/2018 3.36
27/09/2018 3.22
26/09/2018 3.09
25/09/2018 3.10
24/09/2018 3.18
21/09/2018 3.30
20/09/2018 3.37
19/09/2018 3.42
18/09/2018 3.42
14/09/2018 3.42
13/09/2018 3.41
12/09/2018 3.40

Posted by Victor Yong > 2018-10-08 11:17 | Report Abuse

I just wait for the 6sen interim dividend in January :)

Posted by Lukesharewalker > 2018-10-08 11:32 | Report Abuse

maybe another gap down again after fund managers process data

Posted by Victor Yong > 2018-10-08 11:36 | Report Abuse

:)

MASS RAPID TRANSIT

• KLANG VALLEY MRT (SUNGAI BULOH - SERDANG - PUTRAJAYA) - MALAYSIA
• KLANG VALLEY MRT (SUNGAI BULOH - KAJANG) - MALAYSIA
• KAOHSIUNG METROPOLITAN MASS RAPID TRANSIT (KMRT) - TAIWAN

OVERVIEW

The development of the Kaohsiung MRT project in Taiwan by Gamuda has enabled significant growth to the economy spurred by a major industrial and marine port centre. Similarly in Malaysia, in line with the strategic implementation of the Malaysia’s Economic Transformation Plan (ETP) to be a developed nation by year 2020, the Klang Valley Mass Rapid Transit (KVMRT) project will provide city goers a stress free commute across the Klang Valley specifically during the peak of rush hours. Targeted to increase the public mode share to 40%, it will significantly contribute to the economic growth of the financial and capital city.

Project Delivery Partner
With the KVMRT project, Gamuda had introduced the Project Delivery Partner (PDP) concept, a first of its kind in the industry where the primary function is to ensure the successful completion of the MRT within the pre-determined target cost and date. Enabling a more efficient and cost effective way of project delivery, the PDP concept is now an accepted industry standard, and has been adopted and implemented repeatedly within the engineering fraternity.

Upon the successful implementation of the PDP concept with the KVMRT line 1 (SBK), Gamuda is now appointed as PDP for the KVMRT line 2 (SSP) and now for the Penang LRT project.

Underground Contractor
Learning from the experience gained from the SMART project Gamuda pushed the boundaries of innovative engineering by cutting edge technologies such as the Variable Density Tunnel Boring Machine (VD TBM) when tunneling through the karstic limestone ground formation of Kuala Lumpur. The underground project spans over 9.5km and includes 7 underground stations.

Posted by Victor Yong > 2018-10-08 11:37 | Report Abuse

:)

Gamuda Industrialised Building System (Gamuda IBS)

OVERVIEW

Gamuda IBS – Optimising Efficiency

Gamuda is at the forefront with Malaysia’s first automated robotic Industrialised Building System facility. Gamuda IBS optimises efficiency through reduced construction timelines and reliance on manpower. Quality is also enhanced as all elements are completed in a factory-controlled environment. The building elements are then installed on site in a Lego-like fashion, which reduces wastage and translates to lesser workers on site, which in turn increases safety levels.

More importantly, with Gamuda IBS, development can be customised to your needs.

Posted by Victor Yong > 2018-10-08 11:38 | Report Abuse

:)

OVERVIEW

A joint venture between Gamuda Bhd, Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd, SRS Consortium is announced as the Project Delivery Partner for the Penang Transport Master Plan (PTMP) and the South Reclamation Scheme (SRS). The project will deliver a balanced and sustainable approach to achieve Penang’s “Vision for the Future”, while addressing current and future challenges.

These include:

• Providing the necessary transport infrastructure and a new commercial hub (SRS Smart City) with a shared supporting ecosystem to move manufacturing/services sectors up the value chain and attract foreign investments.

• Providing a modern, comprehensive public transport network, new highways to reduce traffic congestion and improve connectivity; while at the same time create affordable housing near employment, surrounded by quality public spaces to improve the living environment.

• Strengthening Penang’s community support and education with a new Integrated Education Hub (Education City) and world-class health bio-clusters (SRS Smart City).

Posted by Victor Yong > 2018-10-08 11:38 | Report Abuse

OVERVIEW

The Electrified Double Track railway Project (EDTP) in the northern district of Malaysia is effectively changing the face of rail transportation in the region. With the new Electrified Train System (ETS), commuters can now enjoy the 325km journey in just half the time for interstate travel. This has triggered a positive impact on tourism with increased number of visitors and businesses within the connecting areas seeing a boost in income.

Connecting Malaysia ports to Indochina, the faster and more efficient mode of transportation have also provided a more profitable alternative for businesses to transport goods.

Project Facts
Electrified Double Track Railway
Electrified Double Track Railway
Electrified Double Track Railway
ELECTRIFIED DOUBLE TRACK RAILWAY
Construction Period : 2008 - 2014
Client
Ministry of Transport, Malaysia
Details
Bridges
• Road Over Bridge : 65
• River Bridge : 78
• Road Under Bridge : 9
• Pedestrian Motor Bridge : 48
• Marine Viaduct (Bukit Merah) : 3.45km
• Land Viaduct : 29km
• Swing Bridge : 1 (at Prai)

Stations, Control Building and Depot
• Major Station : 7
• Minor Station : 8
• Halt : 8
• Operation Station : 7
• Control Building : 4
• Depot : 3 (Padang Besar, Prai and Bukit Mertajam)


Two Tunnels
• Berapit Tunnel : 3.3km
• Larut Tunnel : 3.43km

Posted by Victor Yong > 2018-10-08 11:39 | Report Abuse

OVERVIEW

Providing a solution to some of Kuala Lumpur’s biggest flash flood problems, the Stormwater Management and Road Tunnel project or SMART has also provided a relief to traffic congestions, providing an alternative route going in and out of the city and significantly contributing to the economic growth of financial district.

The SMART project had also started a trend for tunneling in Malaysia, elevating the level of expertise of local civil engineers and advancing the capabilities of the tunneling industry as a whole.

Project Facts



STORMWATER MANAGEMENT AND ROAD TUNNEL (SMART)
Construction Period : 2003 - 2007
Client
Government of Malaysia
Scope of Works
DesignConstructionSupervisionMaintenanceCommissioning
Details
Stormwater Tunnel
Total Length : 9.7 km
Diameter : 13.2 m (outer diameter)
Tunnelling Method : Tunnel Boring Machine (TBM)
TBM Type : Slurry Mix-Shield – Largest in South East Asia and the second largest in Asia
Other Features of SMART
Safety System in the Motorway Tunnel
Automated Flood Control Gates
8 sets of Air Quality Monitoring Equipment (AQME) monitoring carbon monoxide (CO), nitrogen monoxide (NO) and particulate
Cross Passage between decks at 250m intervals
24-hour SCADA Monitoring & Surveillance
Ventilation / escape shafts at 1km interval
Equipped with firefighting equipment, telecommunication and surveillance system at 1km intervals along the motorway tunnel
Radio Re-Broadcasting Services
Components
9.7km stormwater by-pass tunnel
Storage reservoir and a twin-box culvert to release flood discharge
5.38km inclusive of ingress and egress connections to the motorway tunnel linking the southern gateway to the city centre
Holding basin complete with diversion and tunnel intake structures
State-of-the-art operations control room equipped with the latest operations management, surveillance and maintenance systems

Posted by faizkl > 2018-10-08 11:39 | Report Abuse

Like MYEG case all over again? Gap down suddenly, then up up up back..

Posted by Victor Yong > 2018-10-08 11:40 | Report Abuse

OVERVIEW

As a pioneer in constructing urban highways, projects by Gamuda such as the Damansara-Puchong Highway (LDP), the Shah Alam Expressway, the Kerinchi and Penchala Link (SPRINT) have all created an immense catalyst in urbanising the Klang Valley serving over two million commuters daily. The highway projects effectively connects the south west and east of Klang Valley to the Kuala Lumpur city and creates a gateway to the south of Selangor, linking the West port for greater industrialisation.

These highways provides faster connectivity and contributes to the growth of vibrant townships such as Puchong, Desa Park City, Mon’t Kiara, Bandar Botanic and Kota Kemuning, resulting in an increase in property value and spur new developments. The increase in population and economic growth have also led to the introduction of new public transportation such as the Light Rail Transit (LRT), the Bus Rail Transit (BRT) and the Mass Rail Transit (MRT) to serve these corridors.

Beyond the shores of Malaysia, the Panagarh-Palsit and Durgapur Expressways in India and the Dukhan Highway in Qatar are efficiently impacting intra-city travel.

Project Facts
Panagarh-Palsit and Durgarpur Expressway (India)
Dukhan Highway (Qatar)
PANAGARH-PALSIT & DURGARPUR EXPRESSWAY (INDIA)
CONSTRUCTION PERIOD : 2002 - 2005
Scope of Works
• Design • Construction • Testing • Commissioning
Details
(Panagarh-Palsit Expressway)
• Total Length : 64km
• Carriageway Width : 3.5m/lane
• Number of Lanes : 4
• Service Road : 19km (7m wide)
• Interchanges : 19
• Rail Over Bridges (ROB) : 1
• Minor Bridges : 5
• Underpasses & Overpasses : 11
• New Culverts & Existing Culverts to be upgraded : 69
• Project Implement Unit (PIU) Building : 1
• Wayside Amenities - Service Area : 1
• Maintenance Yard : 1
• Truck Lay-Bys : 4
• Nus Bays & Bus Shelters : 16
• Toll Plazas : 2
• Toll Booths : 22
Details
(Durgapur Expressway)
• Total Length : 64km
• Carriageway Width : 3.5m/lane
• Number of Lanes : 4
• Service Road : 84km (6.75m wide)
• Interchanges : 3
• Rail Over Bridges (ROB) : 1
• Minor Bridges : 21
• Underpasses & Overpasses : 10
• Underpasses & Cattle Crossings : 10
• Overpasses & Flyovers : 6
• New Culverts & Existing Culverts to be upgraded : 263
• Maintenance Yard : 1
• Truck Lay-Bys : 4
• Rest & Service Areas : 1
• Toll Plazas : 2
• Toll Booths : 22
Damansara-Puchong Highway (LDP)
Shah Alam Expressway
SPRINT Highway
DAMANSARA - PUCHONG HIGHWAY (LDP)
Construction Period : 1996 - 1998
Client
Government of Malaysia
Scope of Works
DesignConstructionTestingCommissioning
Details
• Length : 40km
• Carriageway Width : 3.75m/lane
• Number of Lanes : 6
• Interchanges : 19
• Bridges : 21
• Vehicular Underpasses : 5
• Pedestrian Bridges : 15
• Toll Plaza : 8
• Toll Booths : 88
• Lay-By : 5

Posted by Victor Yong > 2018-10-08 11:40 | Report Abuse

OVERVIEW

Answering the call to address the water needs of over two million residents in the densely populated Klang Valley, the construction of the Selangor water dam and the water treatment centres by Gamuda was an act to support the nation.

Currently supplying over 1000 MLD to both residents and commercial centres, the Sungai Selangor Water Supply Scheme Phase 3 (SSP3) project ensures a continued supply of fresh clean water that supports local businesses and provides the assurance that the public well-being is being addressed.

Project Facts



SUNGAI SELANGOR DAM
Construction Year : 2000 - 2005
Client
Selangor State Government, Malaysia
Scope of Works
DesignConstructionTestingCommissioning
Details
Components of SSP3

Regulating dam over Sungai Selangor that entails:
Water treatment plants

Realignment of a 7.7km section of Federal Route 55 (Kuala Kubu Bharu-GAP Road)
Resettlement of two indigenous villages and the Institute Kemahiran Belia Negara (IKBN)
250 MLD (125 MLD x 2) intake and treatment works at Rasa to serve Northern Selangor
800 MLD (400 MLD x 2) intake and treatment works at Bukit Badong to serve the Federal Territory Dam
Storage capacity: 235 million cubic metres
Location: 5km east of Kuala Kubu Bharu, at KM66.5 of Kuala Kubu Bharu-Bukit Fraser Road
Height: 110m
Type: Rock filled, with clay core
Crest length: 800m
Catchment Area: 197 sq km, mainly secondary jungle
Impoundment: 600 hectares/ 6 sq km (3% of catchment area)

Posted by Lukesharewalker > 2018-10-08 11:41 | Report Abuse

so the only choice now is a foreign company....defeat the local content perspective

Posted by mf > 2018-10-08 11:41 | Report Abuse

Sell

Posted by Victor Yong > 2018-10-08 11:41 | Report Abuse

Skills in many areas :)

Posted by tidakmuda > 2018-10-08 11:42 | Report Abuse

will drop more so stay away

Posted by tksw > 2018-10-08 11:44 | Report Abuse

still got tol abolishment not yet announce by government...

Posted by Goh Kim Hock > 2018-10-08 11:44 | Report Abuse

this type of heavy volume gap-down black candle stick, better to stay at the sideline for the time being.

Posted by tksw > 2018-10-08 11:44 | Report Abuse

EPF still got 270 mil+ shares in hand...

Posted by Victor Yong > 2018-10-08 11:45 | Report Abuse

Target price by analysts today. 2.71 min & 3.25 max :)

Gamuda Berhad - KVMRT2 Underground Contract Cancelled
Source : PUBLIC BANK, Price Call : HOLD, Price Target : 3.00
Last Price : 2.53, Upside/Downside : +0.47(18.58%)
08-Oct-2018 Price Target Gamuda Berhad - MRT2 Tunnelling Works Terminated
Source : KENANGA, Price Call : HOLD, Price Target : 3.25
Last Price : 2.53, Upside/Downside : +0.72(28.46%)
08-Oct-2018 Price Target Gamuda - MMC-Gamuda terminated as MRT2 underground contractor
Source : AmInvest, Price Call : SELL, Price Target : 2.71
Last Price : 2.53, Upside/Downside : +0.18(7.11%)

Posted by faizkl > 2018-10-08 11:45 | Report Abuse

Like MYEG case all over again? Gap down suddenly, then up up up back..

Posted by Victor Yong > 2018-10-08 11:46 | Report Abuse

thus, today average target price will be around RM3 by analysts haha

Posted by cooling > 2018-10-08 11:50 | Report Abuse

after this....gamuda gets compensation for cancelation of contract.,,,then gamuda is the only company that has boring machine and capabilities to handle such projects...then back to normal,...price go back to 3.80 hahahah...dont miss this golden opportunity

Posted by Victor Yong > 2018-10-08 11:55 | Report Abuse

EPF buys more than sells more recently :)

Thursday, 4 Oct 2018

5:58PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (300,000 units Disposed)


Wednesday, 3 Oct 2018

5:06PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (4,696 units Acquired)


Monday, 1 Oct 2018

5:27PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (150,000 units Acquired)


Friday, 28 Sep 2018

6:51PM GAMUDA TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)

6:28PM GAMUDA Financial year end net profit 564.357 million (decreased 14.00%)


Thursday, 27 Sep 2018

5:56PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (1,085,000 units Transacted)


Tuesday, 25 Sep 2018

5:36PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (850,000 units Acquired)




Friday, 21 Sep 2018

5:15PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (2,200,000 units Acquired)


Thursday, 20 Sep 2018

5:17PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (417,000 units Transacted)


Wednesday, 19 Sep 2018

5:26PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (791,000 units Acquired)


Tuesday, 18 Sep 2018

5:23PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (3,519,600 units Transacted)



Friday, 14 Sep 2018

5:27PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (395,100 units Acquired)

5:12PM GAMUDA OTHERS


Thursday, 13 Sep 2018

5:28PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (1,140,000 units Acquired)


Wednesday, 12 Sep 2018

5:19PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (2,812,900 units Acquired)



Friday, 7 Sep 2018

1:13PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (832,500 units Transacted)


Monday, 3 Sep 2018

5:41PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (145,304 units Acquired)


Wednesday, 29 Aug 2018

5:28PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (639,000 units Acquired)


Tuesday, 28 Aug 2018

5:44PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (569,000 units Acquired)




5:06PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (1,131,100 units Acquired)


Thursday, 23 Aug 2018

5:28PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (337,300 units Acquired)


Tuesday, 21 Aug 2018



5:36PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (174,300 units Acquired)


Monday, 20 Aug 2018

5:05PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (989,300 units Transacted)



Friday, 17 Aug 2018

5:09PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (2,111,300 units Transacted)


Thursday, 16 Aug 2018

5:43PM GAMUDA EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (1,340,100 units Transacted)

Posted by Lukesharewalker > 2018-10-08 11:58 | Report Abuse

50% of orderbook gone?

Posted by Kendo Ken Hz > 2018-10-08 11:59 | Report Abuse

Compensation equal profit, why worry, buy

Posted by Victor Yong > 2018-10-08 11:59 | Report Abuse

buy rate is still 53%, average traded price 2.54 now :)

Posted by Vivonewbie > 2018-10-08 12:00 | Report Abuse

M'sia Baru not everything retender baru fair?

Posted by Vivonewbie > 2018-10-08 12:01 | Report Abuse

Now regret change govn bec cannot see benefits for shareholders.

Posted by Victor Yong > 2018-10-08 12:02 | Report Abuse

:)

KVMRT2 contract revisions. We understand KVMRT’s current overall PDP and underground completion is now at 28% and 37% respectively. Finance Minister Lim Guan Eng was reported to say that all unfinished underground work will be re-tendered via an international open tender process as the Government felt it could achieve “further significant savings” compared to the offer made by MMC-Gamuda. We do not discount the possibility of Gamuda to bid again for the underground contract again and could have cost advantage as it already has the boring machines and project knowledge. That said, costs could be escalated with the surprise contract cancellation due to idling resources on site but we believe Gamuda should be getting compensations. As for above ground packages, works to be continued with savings achieved through a reduction in cost and rationalisation in work scope without cancelling any of the above-ground stations. We believe that project margins should be largely unchanged from PDP model to fixed price turnkey model.
Source: PublicInvest Research - 8 Oct 2018

Posted by Lukesharewalker > 2018-10-08 12:03 | Report Abuse

The Ministry of Finance announced yesterday that the Government has terminated MMC-Gamuda’s contract to build the underground portion of the MRT Line 2 (KVMRT2) after the two parties failed to reach an agreement. This came in as a negative surprise as we believed earlier that the underground works, together with the above ground works, to be scaled down rather than outright cancellation. The KVMRT2 underground works constituted RM5.5bn or c.92% of the Group’s outstanding ordebook of RM6bn, which would adversely impact Gamuda’s construction earnings in the near term with the cancellation and absence of new jobs.

Posted by Victor Yong > 2018-10-08 12:03 | Report Abuse

nanti dapat semula, rise gila

We do not discount the possibility of Gamuda to bid again for the underground contract again and could have cost advantage as it already has the boring machines and project knowledge.

Posted by Lukesharewalker > 2018-10-08 12:05 | Report Abuse

92% of orderbooks....ooops. definitely a loss coming Qs

Posted by Victor Yong > 2018-10-08 12:05 | Report Abuse

all the best, :)

Hoping for the best. While we believe that international parties could be interested to participate in the tendering process for the remaining works, we believe that GAMUDA-MMC JV would still have an edge over potential bidders given that their machineries are already in place coupled with their strong track record in dealing with the underground rock formation in Kuala Lumpur due to their past experience with MRT1 and SMART Tunnel. Furthermore, GAMUDA-MMC JV had set up the Tunneling Training Academy (TTA) and the TBM Refurbishment Plant; both substantial investments for sustainable human capital, which they are expecting to have 1,000 skilled Malaysian tunnel workers by the end of MRT2 tunneling works.

Posted by Vivonewbie > 2018-10-08 12:06 | Report Abuse

Why not Gamuda RM 1.5-2 lagi bagus? RM 2.53 still mahal.

Posted by Victor Yong > 2018-10-08 12:06 | Report Abuse

:)

Downgrade to MARKET PERFORM. Following the unexpected termination of MRT2 tunneling works, we downgrade GAMUDA to MARKET PERFORM (previously, OUTPERFORM and Top Pick) as we lowered our SoP-driven Target Price to RM3.25 (previously, RM4.30) after factoring the loss of MRT2 tunneling works coupled with a lower 10.0x FY19E PER ascribed to its construction division (previously 14.0x). Our TP implies FY19E PER of 14.3x above KLCON’s 5-year average of 13.4x, which we believe to be fairly valued. Following our downgrade in earnings, call and TP, GAMUDA is no longer our Top Pick for 4Q18.

Risks to our call include: (i) cancellation of toll concessions, and (ii) higher-than-expected input costs, and (iii) lower-than-expected property sales.

Source: Kenanga Research - 08 Oct 2018

Posted by J For Janice > 2018-10-08 12:07 | Report Abuse

Gov want re-tender.Not many contractor can take this kind of underground work,so gamuda will take back the work,but with not much profit this time.

Posted by Lukesharewalker > 2018-10-08 12:07 | Report Abuse

if Gamuda loses the whole package, its finite for Gamuda for years to come...……...

Posted by Vivonewbie > 2018-10-08 12:08 | Report Abuse

Maybank, HLG, RHB 2.53 I more happy.

Posted by Lukesharewalker > 2018-10-08 12:09 | Report Abuse

not many local but foreign companies ...yes