Posted by Lukesharewalker > 2018-10-10 18:02 | Report Abuse

i guess we need a new political party now...LOL

Posted by diamondgnat > 2018-10-10 18:05 | Report Abuse

I think this is a classic example for Gamuda to keep their mouth shut and for their management to bridge the price difference privately. Gamuda PR should refrain from issuing out further statements. They have done so much damage to themselves.

Posted by warchest > 2018-10-10 18:09 | Report Abuse

Bring back GST for the country ! so painful to us to cover the shortages and yet much more damages to Malaysians. We need to reduce budget and also incur more taxes like SST, soda tax, capital gain tax, inheritance tax. Even back to SST, those all walks of life cannot feel the differences. Life becoming tougher due lack of enforcement and profiteering. With this we can negotiate more for MRT2

Posted by Stock_god > 2018-10-10 18:11 | Report Abuse

Should back to 5-6 once BN retain power

Posted by Ayoyo > 2018-10-10 18:13 | Report Abuse

I totally agree with probability.... The risk associated with completion a half baked product by an ex vendor is simply too risky... Taking into account, national interests are at heart, Tun M will probably step in as a mediator.. Gamuda reworks proposal and for a lower fee, LGE and MOF accepts it with face saving too....

Also, I see selling exhaustion today... Whacked heavily at 2.06 to 2.08... Let's see

Posted by skhuei > 2018-10-10 18:13 | Report Abuse

If Gamuda Mgmt do not fight back, can terminate them already.

if your company project get terminated half way u will shut up too?

Posted by hollandking > 2018-10-10 18:14 | Report Abuse

what step in as mediator? It was a cabinet decision

Posted by tehka > 2018-10-10 18:18 | Report Abuse

As long as LGE is the finance minister, the only thing I will buy are Fbmklci puts

Posted by Dcmh > 2018-10-10 18:20 | Report Abuse

The offices busy cleaning up documents now dunno what happpened

Posted by Sami_Value > 2018-10-10 18:20 | Report Abuse

Finally some professional from industry speak up. Wait la, later you see if the saving really a saving or the so called 4-5 B saving now but later have to pay another 5-6 B out for the legal lawsuits and also the loss and expanses

Aiyo, mana pergi the BN? still sulking after defeated badly GE15?

I tell you what public should do now. Record all the so call saving declared by the current government. We track the overall project cost later upon completion. See really got saving after taking into accounts the legal lawsuits and the loss & expenses claims + the possible V.O by the future contractor.

If ended up more costly - don't let go the donkey who advise the current government wrongly.

Don't let go also the government who are willing to listen to the wrong advise. Government can always check with industries professional, no reason to put the donkey that advise wrongly to take the full blame.

Also to the future contractor, lol. you dare to enter agreement with government now ? kikikikikikiki

Posted by trulyinvest > 2018-10-10 18:23 | Report Abuse

Shanghai n hkex down until now n no rebound, org pun x bising. Klci down saje, u kutuk lge. Apalah ini

Posted by Victor Yong > 2018-10-10 18:24 | Report Abuse

https://www.freemalaysiatoday.com/category/opinion/2018/10/10/which-contractor-would-dare-sign-contracts-with-ph-now/

Posted by Victor Yong > 2018-10-10 18:27 | Report Abuse

Gamuda & MMC... Their decisions... Jointly agreed :)

Posted by SuperPanda > 2018-10-10 18:27 | Report Abuse

Being in construction myself, those termination while project running is chaos. Political leaders only sees whats on paper but those whom involve to handle the mess only knows how crazy it would be.

I cant imagine how they are going to give out CPC for the 40% and liable for the DLP while others will continuing with the remaining works.

It can be done of course but thats not the proper way of doing it and may end up with another problem later.

Posted by Victor Yong > 2018-10-10 18:28 | Report Abuse

Cabinet's decision to reconsider, no news yet, probably tomorrow :)

Posted by tehka > 2018-10-10 18:29 | Report Abuse

Switch to FBMKLCI-HXX to recover losses

Posted by skhuei > 2018-10-10 18:31 | Report Abuse

Totally agreed...Now PH government want to sell government asset, after 2 years, they said your offer price too low, need to top up 50%.

Victor Yong https://www.freemalaysiatoday.com/category/opinion/2018/10/10/which-co...

Posted by pang72 > 2018-10-10 18:33 | Report Abuse

Cabinet revisit or not is no more important.
Hot news from A Eng to reduce the GLC stakes holding.

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

Posted by apple168 > 2018-10-10 18:34 | Report Abuse

Gamuda TA is confirmed downtrend! Heading to 1.5 as per forewarned!

Posted by pang72 > 2018-10-10 18:34 | Report Abuse

This hot news can cause klci drop 50%

Posted by pang72 > 2018-10-10 18:34 | Report Abuse

Because government holding mostly index stocks...

Posted by mf > 2018-10-10 18:35 | Report Abuse

Sell

Posted by tehka > 2018-10-10 18:36 | Report Abuse

Tml morning last chance to switch to FBMKLCI-HXX.

Posted by Fabien Extraordinaire > 2018-10-10 18:37 | Report Abuse

Gamuda in bad books i believe.

Future contract wins in doubt!

Posted by warchest > 2018-10-10 18:37 | Report Abuse

this is corporate bullying. Should work closely with Gamuda and creates a strong international contractor. Please bear in mind Gamuda also help to create employment and helping Malaysia to avoid middle income trap. Anyway, even got profit also they also contribute to the government. Gamuda is retaliating because got their underground portion got terminated. If they don't voice out, it will happen to other listed companies as well. than no different with BN

Posted by TrippleZ > 2018-10-10 18:37 | Report Abuse

trulyinvest, shanghai

Posted by warchest > 2018-10-10 18:39 | Report Abuse

those corporate bullying will hinder FDI from investors. those listed companies will not create more jobs but instead reduce. no capex and we will turn into loser among the ASEAN nations

Posted by ray1980 > 2018-10-10 18:40 | Report Abuse

Tun Ma say don't see money go to foreign country but open international tender program.Who announced is right? Don't like China capital investment but then after if China company get tender win,how say to people on Malaysia?

Posted by warchest > 2018-10-10 18:41 | Report Abuse

We want strong Malaysian company, we want more big foreign companies to come to Malaysia. we want more employment but if this trend continues than all is just as good as hope

Posted by skhuei > 2018-10-10 18:43 | Report Abuse

Even Taiwan MRT done by Gamuda. But PH government said they are not good.

We want strong Malaysian company

Posted by cheeyong > 2018-10-10 18:43 | Report Abuse

Third national car project is more important than MRT2 ???? Something is going wrong way in ph government.. cut budget to do third national car....

Posted by cheeyong > 2018-10-10 18:45 | Report Abuse

PH always use high debt as a ascuse to cut expenses...

Posted by CharlieSim > 2018-10-10 18:45 | Report Abuse

Cowboys in town... Contractors pls give way...:)))

Posted by Victor Yong > 2018-10-10 18:48 | Report Abuse

Pitiful :)

Gamuda and MMC Corp shares extend losses on scathing letter from Tony Pua



Posted on 10 October 2018 - 01:15pm
Last updated on 10 October 2018 - 02:08pm
sunbiz@thesundaily.com

PETALING JAYA: Gamuda Bhd share price closed morning trade 5% or 12 sen lower after Finance Minister Lim Guan Eng's political secretary Tony Pua released a scathing letter admonishing the group for "putting up a great show" upon having its underground works contract for MRT2 terminated.

The stock hit a 52 week low of RM2.25 today before rebounding slightly to close at RM2.26, with some 51.8 million shares changing hands, making it the most active counter of the day.

The last couple of days alone has seen the group loses about RM2.3 billion of its market capitalisation.

Joint venture partner MMC Corp Bhd also continued its losing streak, dropping 1.72% or two sen to close at RM1.14.

Some 801,900 shares changed hands.

Posted by Gn021 > 2018-10-10 18:50 | Report Abuse

https://www.youtube.com/watch?v=bB-V3Nt3cxo

Posted by RVI123 > 2018-10-10 18:57 | Report Abuse

It is stupid for Gamuda to write the open letter. Don't expect the government to bend themselves. It is better to knock their doors again and sort things out.

Posted by Huatexpert > 2018-10-10 18:58 | Report Abuse

PrayForMRT2: MMC-Gamuda Employees Appeal To Government After Termination Of Contract

https://says.com/my/news/prayformrt2-mmc-gamuda-employees-appeal-to-government-after-termination-of-contract

Could you explain why we need national car 3???

Posted by ran777rpt > 2018-10-10 18:58 | Report Abuse

Terribly wrong. Even a simple hardware shop have 3 types of quality in the product they sell. Murah punya, baik punya and bagus punya. Bagus punya is like Stanley hammer. Murah punya, use one or two days and it is gone. I am from a construction background and have undergone a termination process. As a developer even, it is not easily or cheap to re appoint another contractor. Terminated contractor will give hell of a problem. I my case what could be proven in my project and as shabby works and delay which all the while well documented with sufficient letters written to the contractor very timely. Hence the first hurdle with the terminated contractor was overcome.
In Gamuda-MMC case, I presume no delays or shabby works and safety is of top.
It will definitely cost the newcomer high as the cost of material had surely gone up. Where in the earth the newcomer is going to employ the retrenched workers again? He will have his own men.
The consultant who has proposed to the govt might have used the cost of cheap materials like ‘ murah punya to evaluate.This could definitely posed a danger for users in future or will incur a costly maintenance in future for rework, replacement etc.
What the current govt is doing is a terrible blunder on their part which Rakyat has pay for it. Not PH is going to pay from their pocket.
Btw I am not holding any Gamuda or MMC share.
Rakyat must voice out this atrocity towards Builders.

Posted by feimah > 2018-10-10 19:00 | Report Abuse

Lesson learn don't put an accountant to do engineering work.

Posted by Huatexpert > 2018-10-10 19:01 | Report Abuse

Why penang need a RM 6.3bil tunnel while current second bridge under utilise..

https://www.nst.com.my/news/nation/2018/10/418203/tunnels-elevated-features-penang-paired-roads-project

Posted by cheeyong > 2018-10-10 19:02 | Report Abuse

National car 3 for what? Can solve traffic jam ar...!

Posted by Victor Yong > 2018-10-10 19:03 | Report Abuse

just make u -turn like mas-airasia merger under umno bn .... better late than never :)

Posted by Victor Yong > 2018-10-10 19:05 | Report Abuse

mmc gamuda also bodoh, used digital marketing to attack the govt, go n knock on their doors repeatedly, be humber, use reasoning. :)

Posted by Sami_Value > 2018-10-10 19:06 | Report Abuse

Not stupid for the Gamuda-MMC to write the letter. They know where they stand very well contractually.

I fully support their decision.

Posted by ABSBOSS > 2018-10-10 19:07 | Report Abuse

Im a part time grab driver, profit from grab i invest in klse.. Now all paperloss.. Manyak sial imi kali lah

Posted by jolow > 2018-10-10 19:12 | Report Abuse

gamuda can go bankrupt anytime soon

Posted by ran777rpt > 2018-10-10 19:14 | Report Abuse

Feimah, Tan Sri Krishnan Tan Boon Seng was an Accountant when he was appointed MD of IJM. He brought the company to high spot because he decided many construction issue through his assistant Daryl Goh Chey Koon at that time.

Posted by Huatexpert > 2018-10-10 19:16 | Report Abuse

Look like we need to delay mrt2 to push for national car 3...drive more take less mrt...back to the past..

https://www.todayonline.com/world/mahathirs-3rd-national-car-be-asean-effort-weather-us-china-trade-war

Posted by TakeProfits > 2018-10-10 19:19 | Report Abuse

Eh, cindybull, Short term pain, but LT gain for msia. PH doing great job. You and I can loose with paperlossess but Msian rakyat money cannot be looted. All these must stop. Let OH fix the nation and then me is will be Asian Tiger again. Cindybull put your Gamuda shares under your bed..hahaha.

Posted by Kays > 2018-10-10 19:20 | Report Abuse

Even if they LGE finally accept what Gamuda have to offer for the remaining job. I don't think Gamuda will be getting any large portion of GOV job in the future. Thus 10 years growth down stream.