Posted by TomHagen > 2018-10-10 17:20 | Report Abuse

Better vote for honest candidates with PAS then bunch of liars in PH

Posted by probability > 2018-10-10 17:20 | Report Abuse

If halfway through execution...found another new bidder with lesser price...quickly terminate existing contract!

Now is very dynamic bidding business..

Posted by skhuei > 2018-10-10 17:21 | Report Abuse

MRT Corp awarded the undergrounds works to MMC Gamuda in 2016 following an international
competitive tender that, due to the challenging ground conditions, had stringent pre-qualification
requirements with only 5 contractors pre-qualified by MRT Corp to tender, of which MMC Gamuda
was the only local contractor.
The bids were evaluated by the Reference Design Consultant, Arup Singapore Pte Ltd, appointed by
MRT Corp. MMC Gamuda’s bid scored the highest technical score and offered the lowest price. MMC
Gamuda’s price was lower than the pre-tender estimate prepared by Arup Singapore Pte Ltd.

So the other 4 companies also overcharge for MRT2 project since Gamuda is the lowest.

Posted by probability > 2018-10-10 17:22 | Report Abuse

Now we should bring CCCC to bid...if any local bidder price is higher than CCCC, he must match CCCC.

If not...no contract is to be signed (cos we dont want to give to CCCC too).

This is the latest policy.

Posted by skhuei > 2018-10-10 17:22 | Report Abuse

then should terminate the singapore consultant first.

Posted by titus > 2018-10-10 17:23 | Report Abuse

many ppl will remember today and if next election......they might vote with anger and frustration......

Posted by icecool > 2018-10-10 17:24 | Report Abuse

traders now everyday must listen to the news carefully especially when the mof open mouth, anytime can limit down or drop kaw kaw

Posted by JJchan > 2018-10-10 17:24 | Report Abuse

PAS cannot solved Garbage Disposal in Kelantan and now you want Pas to cangkul a tunnel the
size of a House-----some more Pas like Mercedes Benz instead of Perodua

Posted by titus > 2018-10-10 17:24 | Report Abuse

Those holding warrant or call warrant....all die hard.....not only die hard.....dun have a word to properly describe le...

Posted by TomHagen > 2018-10-10 17:25 | Report Abuse

Tony Pua and LGE trying to act like hero but in the end just show how incapable and clueless they are in managing a Nation

Posted by ken > 2018-10-10 17:26 | Report Abuse

Will Gamuda formally nearly blue chip become penny stock?

If they continue fighting with PH Gov, I think they will... beter kaw-tow now.. nicely nego..

Posted by hollandking > 2018-10-10 17:26 | Report Abuse

think govt can bundle up the projects and nego with china.

Posted by titus > 2018-10-10 17:26 | Report Abuse

icecool....if like that ah...lets hope lge open more mouth and KLCI plunge to 1200 loh. Since already ugly....make it more uglier and then i will go sailang....i hope maybank can drop to RM2. pbb to rm 3 & etc....

Posted by pang72 > 2018-10-10 17:27 | Report Abuse

http://www.chinapress.com.my/20181010/恐慌性抛售？-马股狂跌42点！/

Posted by pang72 > 2018-10-10 17:27 | Report Abuse

Apa lu mahu lagi!!

Downturn start

Posted by icecool > 2018-10-10 17:27 | Report Abuse

@titus bank stock hard to drop under bnm tight control

Posted by skhuei > 2018-10-10 17:28 | Report Abuse

Totally agreed!

icecool....if like that ah...lets hope lge open more mouth and KLCI plunge to 1200 loh. Since already ugly....make it more uglier and then i will go sailang....i hope maybank can drop to RM2. pbb to rm 3 & etc....

Posted by ken > 2018-10-10 17:28 | Report Abuse

Drop only one day lah… tomorrow gren-green.

Posted by steven223838 > 2018-10-10 17:28 | Report Abuse

gamuda has no choice but accept the project at a lower price.gamuda has no bargaining chip.

Posted by signalmw > 2018-10-10 17:28 | Report Abuse

reach TP 2......then TP1.5

Posted by signalmw > 2018-10-10 17:29 | Report Abuse

（吉隆坡10日讯）财长林冠英指出，日后政府将减持官联公司股权，许多官联公司今日被恐慌抛售，造成马股指标富时隆综指一度暴跌41.65点，或2.35%。

其中，亚通（AXIATA，6888，主板电讯与媒体股）和国家能源（TENAGA，5347，主板公用事业股）是主要领跌股。

Posted by hollandking > 2018-10-10 17:29 | Report Abuse

ECRL hot potato

Posted by newbie911 > 2018-10-10 17:30 | Report Abuse

Cb lge and tony

Posted by zerocool7199 > 2018-10-10 17:30 | Report Abuse

You save for few billion ringgit for the project but loss x3 x5 from the emerging market.worth to save?pls study deeper...

Posted by rajachulan > 2018-10-10 17:30 | Report Abuse

现在才知道不可以乱讲话？

Posted by signalmw > Oct 10, 2018 05:29 PM | Report Abuse

（吉隆坡10日讯）财长林冠英指出，日后政府将减持官联公司股权，许多官联公司今日被恐慌抛售，造成马股指标富时隆综指一度暴跌41.65点，或2.35%。

其中，亚通（AXIATA，6888，主板电讯与媒体股）和国家能源（TENAGA，5347，主板公用事业股）是主要领跌股。

Posted by freddiehero > 2018-10-10 17:31 | Report Abuse

wahlau..

Posted by Paul123 > 2018-10-10 17:32 | Report Abuse

Tony work for free.....give free advise oso

Check if oxford degree fraud or no

Posted by freddiehero > 2018-10-10 17:32 | Report Abuse

like tis who wan bit tat job oh..

Posted by freddiehero > 2018-10-10 17:32 | Report Abuse

like tat they wan back index 10 years low 900?

Posted by shpg22 > 2018-10-10 17:33 | Report Abuse

All those target price above make the anal-yst look really really stupid

Posted by Paul123 > 2018-10-10 17:34 | Report Abuse

Save cost by chopping 2 station mah.

Same logic, next time buy chicken rice, ask separuh nasi and separuh ayam, sure got discount...ha ha...new PH price come cheaper.

Posted by signalmw > 2018-10-10 17:35 | Report Abuse

马股面对沉重卖压　大跌逾40点

分享

由於政府在週二的新曙光研討会上无法提供更多的方向指引，加上，担心预算案將出台更多新税务，打击市场情绪，马股週三面对沉重的卖压，多只重量级股项面对拋售走低，拖累股市盘中大跌逾40点或2.35%，至1732.50点。

Posted by ronald118 > 2018-10-10 17:35 | Report Abuse

gamuda end 31/07/2018 got 12sen dividend...bila kasi?

Posted by investormom > 2018-10-10 17:39 | Report Abuse

To the retailers who are lobbying for the Gomen to retract on terminating the contract, please stop. You're making it only worse. Look at what it drove Tony Pua to write. I believe Gamuda's management is not sitting on their laurels and they are scrambling to rectify this. If Gamuda does not recover this job, they will find other ways to make up for it. Ive lost tens of thousands on paper in the last few days. The irritation is nagging but some things take time.

Ps - can we stop blaming this on LGE? His (and the cabinet's) decision may have inconvenienced some of us but now we know why he was tasked with this job. Tun M knew whoever the finance minister is during this critical period will be getting the worse brunt of the people. Personally, I am not happy with him either because my investment returns have never looked worse but we have to give credit when credit is due. He's doing the job he promised all Malaysians he would do: Bring Malaysia's finances back on track.

Posted by notanking > 2018-10-10 17:41 | Report Abuse

@investormom well said....

Posted by hornbill > 2018-10-10 17:44 | Report Abuse

Actual fact the cost saving is not got going to LGE pocket.. the cost saving can spend for other important stuff.

Posted by Victor Yong > 2018-10-10 17:45 | Report Abuse

:)

Illogical to stop now, say contractors after MMC-Gamuda contract axed

Minderjeet Kaur - October 10, 2018 9:45 AM


PETALING JAYA: Contractors have questioned Putrajaya’s decision to terminate the MMC-Gamuda contract for the underground portion of the MRT2 project, saying it does not make sense to cancel it or give it to someone else halfway through.

Daniel Ng, whose company carries out geotechnical work and laboratory testing of raw materials such as concrete and cement, said contractors had invested millions in training workers and buying equipment.

“We are two years into the job and have completed 40% of it. Why stop now?

“If they decide to go for someone else, I don’t see the logic. If something goes wrong, who will be blamed? Will they blame the first guy or the second?” he said to FMT.



Putrajaya terminated MMC-Gamuda’s contract after the two parties failed to reach an agreement over cost reduction and related issues.

The consortium said this would result in “immediate job losses” for over 20,000 people involved in the project from a supply chain of over 600 Malaysian companies.

In a statement, it said over 3,000 of the 20,000 people consisted of MMC-Gamuda joint venture staff, more than 60% of whom are Bumiputeras.

It also claimed the termination would expose MMC-Gamuda to a flood of lawsuits for compensation from employees, sub-contractors, suppliers, manufacturers and others, whose contracts would be similarly ended through no fault of their own.

Ng said he had over 100 engineers who were specially trained by foreign experts to ensure that the quality of materials used meets international requirements.

“I have invested RM1.5 million to RM2 million to buy special equipment to carry out the testing,” he added. “The investment has not yet been fully realised.

“I never thought it would end this way,” he said. “We did work for the Gamuda MRT Line 1 and finished the job in five years.

“We invested more for the next five years for the laboratory testing equipment. We expected it to go on until the end.”

He said he hoped the government would renegotiate the price with MMC-Gamuda.

This follows Prime Minister Dr Mahathir Mohamad’s statement yesterday that Putrajaya would review its decision to open an international tender process for the MRT2 underground work.

Finance Minister Lim Guan Eng meanwhile had said workers could be re-hired by the new contractor if the project continues.

Another contractor, Jimmy Lim, urged the government to view the project in a more positive light.

“They are calling it a termination under convenience clause, which is not right. Imagine if you told your husband or wife that you want to terminate your marriage agreement using this clause. It is not professional,” he said.

“The government needs to re-look the project. Gamuda has completed 40% of the work, with 60% left to go. They (MMC-Gamuda and the contractors) are also prepared to cut down on some of the stations, which means that the cost would drop.”

He also noted that the project tender had been called through an international tendering process. “A fair price was evaluated based on the tendering process,” he told FMT.

He voiced concern over what would happen to the family members of the 20,000 contractors and staff.

Malaysian Employers Federation (MEF) executive director Shamsuddin Bardan meanwhile suggested that the government find alternative jobs for those whose employment was terminated.

“It will be a difficult time for those involved,” he said. “The government should make sure that these staff members are absorbed into the job market.”

He also warned that those who could might look elsewhere for jobs, causing the country to lose valuable talent.

Instead of wooing overseas Malaysians to return under the TalentCorp programme, he said, the government should focus on these people who were facing the axe due to Putrajaya’s decision.

Posted by pang72 > 2018-10-10 17:47 | Report Abuse

http://www.enanyang.my/news/20181010/政府将减持官联公司-马股一度重挫42点/

Posted by pang72 > 2018-10-10 17:48 | Report Abuse

This is why tsunami happened in bursa.

Posted by freddiehero > 2018-10-10 17:48 | Report Abuse

not finish yet..

Posted by pang72 > 2018-10-10 17:48 | Report Abuse

Today only day 1..
Enjoy

Posted by freddiehero > 2018-10-10 17:48 | Report Abuse

still a lot

Posted by probability > 2018-10-10 17:48 | Report Abuse

i just said that.

Posted by probability > Oct 10, 2018 05:13 PM | Report Abuse X

It is IMPOSSIBLE for any new contractor to take a job 40% done by Gamuda.....

100% certain, it will go back to Gamuda. Just that, its sub-contractor will go through tremendous squeezing...before Gamuda could establish an agreement with MOF on the revised value.

Posted by pang72 > 2018-10-10 17:49 | Report Abuse

After months and revisiting bursa, 50%discount

Posted by freddiehero > 2018-10-10 17:49 | Report Abuse

bursa index should back 10 years low

Posted by rajachulan > 2018-10-10 17:49 | Report Abuse

oct 2018 nia already back to 2008 level... later if the worldwide crisis arrive 2020...no eye see.... now already wants increase tax... then 2020 will learn Korean to ask people donate gold?

Posted by SK92 > 2018-10-10 17:52 | Report Abuse

avoid construction stock at all cost until BN comes into power

Posted by valuelurker > 2018-10-10 17:55 | Report Abuse

Its the end of the road for Gamuda

Posted by Goh Kim Hock > 2018-10-10 17:56 | Report Abuse

It is better to bite the bullet now and call a spade a spade. Be transparent. Rather than living in your own world of fantasies which only gives you false hope.

Posted by Victor Yong > 2018-10-10 17:56 | Report Abuse

:)

Axing MMC-Gamuda contract more trouble than it’s worth

Mr KI - October 10, 2018 4:41 PM


I am writing this from the perspective of a building consultant. I am curious about the recent move to banish MMC-Gamuda KVMRT from the execution of the MRT2 underground package.

1. What would the implications of terminating the contract 40% into project completion be for end users? Ultimately, the MRT lines serve to diffuse the severe Malaysian problem of lack of alternatives to travelling with personal vehicles. The MRT Line 2 in fact specifically serves the most congested road in the Kuala Lumpur city centre, Jalan Tun Razak. To halt the project this late in the day would surely mean the public will not be able to benefit from the full network of MRT as initially promised.

2. If I understand correctly, a private local engineering firm has been engaged to re-assess the project costs with respect to the current progress and upcoming works. What exactly is the outcome of the rationalisation? Often, when a professional body is commissioned to re-evaluate a work of such high stakes, its appointment would need to be matched with some level of credibility and qualification. That the government is mum on the organisation and its findings is disconcerting.

3. Apart from furnishing the cost-benefit analysis of its decision, the government should seek engineering experts to gain an independent opinion on the impact of deferring current works. The consequences of leaving underground constructions on hold for extended periods can generate significant risks and cost implications.



Unlike the familiar scenarios of abandoned building projects that can be left halfway and easily resumed at a later point in time, an underground construction would need to be stabilised, with some deep shafts possibly having to be backfilled again, to ensure ground movements are controlled.

The contractors would most likely have to expend more to secure current work sites, with continual monitoring of completed sections necessary to protect surrounding buildings and people.

All this for a possibly extended interim between re-tendering, final award, handing over and reinstatement of the works.

Technically speaking, the termination of the MRT underground contract sounds like a lot more work than any potential savings could possibly warrant. Considering it is no small thing to either contractors or taxpayers, should the MRT project end up a flop, the finance ministry should ensure that all angles, financial, contractual, construction and risk-wise, have been considered in deciding what’s best for the country.

Mr KI is an FMT reader.

The views expressed are those of the author and do not necessarily reflect those of FMT.