KUALA LUMPUR (Jan 18): The government has terminated the engineering, procurement, construction and commissioning (EPCC) contract awarded to China contractor China Communications Construction Co Ltd (CCCC) for the RM81 billion East Coast Rail Link (ECRL) project, a source told theedgemarkets.com today.
CCCC was instructed to stop all construction works and services regarding the ECRL project by Finance Minister Lim Guan Eng on July 3 last year until further notice, pending a review.
The ECRL is among several mega projects being reviewed by the current Pakatan Harapan government, in this case due to the cost of undertaking the ambitious railway link that forms part of China's "One Belt, One Road" initiative.
Terrible quarterly result for Ssteel, and the management hinted that the remaining of the year will also be the same. All 4 long steel companies' stock price will be dragged down tomorrow. I just hope that won't affect overall market sentiment, but only confine to steel sector.
As I tried to explained earlier, low P/E is irrelevant because when it turn to loss, everything is negative.
Posted by shpg22 > Oct 11, 2018 04:35 PM | Report Abuse X The market is expecting steel industry to bleed soon as part of its cyclical nature, that is why low P/E is irrelevant.
MITI Rebar Safeguard Duties 14 April 2017 – 13 April 2018 13.42% 14 April 2018 – 13 April 2019 12.27% 14 April 2019 – 13 April 2020 11.10%
Current China Rebar price is around RMB3750, if we converted to RM, it is equal to RM2263. If it import to Malaysia, plus the 11.10% safeguard duties, it become RM2514 (havent include shipping cost). So guys, dont worry import China rebar will affect local steel.
Malaysia current Rebar price is RM2000 - RM2150, that mean we are actually lower than oversea, that why SSTEEL mention the company will continue develop its export market.
Let's hope our PM go to China and bring back some good news. Once ECRL continue, then all construction will be booming. and steel price will back to RM2400-2600 range.
LRT3 project back on track, completion in Feb 2024 LRT3 Friday, February 22nd, 2019 at , Economy | News
By ALIFAH ZAINUDDIN / Pic by MUHD AMIN NAHARUL
THE light rail transit line 3 (LRT3) project is back on track with the signing of a novation agreement between Prasarana Malaysia Bhd, MRCB George Kent Sdn Bhd (MRCBGK) and nine work package contractors (WPC) today.
The novation agreement, which is pursuant to the fixed price contract that was signed between Prasarana and MRCBGK on Jan 25, will allow the WPCs to migrate from the previous project delivery partner (PDP) scheme to the fixed price contract scheme.
Under the new arrangement, MRCBGK is now the turnkey contractor while Prasarana takes the role as the project’s employer. The fixed price contract for LRT3 was drawn up in line with instruction by the Ministry of Finance on July 12, 2018, to reduce the project cost to RM16.63 billion.
The signing of the novation agreement was witnessed by Finance Minister Lim Guan Eng, Transport Minister Anthony Loke Siew Fook and Federal Territories Minister Khalid Abd Samad.
Prasarana was represented by its president and group CEO Datuk Mohamed Hazlan Mohamed Hussain, while MRCBGK was represented by its LRT3 project director Patrick Hwang.
The nine other companies signing the agreement are infrastructure WPCs comprise of Mudajaya Corporation Sdn Bhd, WCT Construction Sdn Bhd, Gabungan Strategik Sdn Bhd, APEX Communications Sdn Bhd, Rahimkon Sdn Bhd, Sunway Construction Sdn Bhd, Pembinaan Jaya Zira Sdn Bhd, SN Akmida and Trans Resources Corporation Sdn Bhd.
Connecting Bandar Utama to Johan Setia in Klang, the competition date for the project under the new agreement is set for February 28, 2024.
The length of the new line is maintained at 37.6km, but the number of stations has been reduced from 26 stations to 20 stations. The five stations are listed as future stations. Park and ride facilities were reduced from 6,000 to 2,300 bays and the number of trains were revised from 42 sets of 6-car trains to 22 sets of 3-car trains.
This has allowed the final project cost to be reduced from RM31.65 billion to RM16.63 billion.
Datuk Mohamed Hazlan expressed confidence that Prasarana, MRCBGK and its partners will be able to meet the project’s new deadline.
“With the commitment and the drive of the new government for a better Malaysia, we are very confident that we can meet this deadline. To do this, however, we hope all our partners with the LRT3 project especially MRCBGK and the WPCs would work closely and amicably with us at Prasarana to meet our deliverables,” he said.
Publicinvest promoto buy on ssteel, pls sell coz the traders in public invest are selling their shares to us so that we chak sei kai...eat dead chicken meaning
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Posted by baohulu88 > 2018-12-14 10:13 | Report Abuse
what happen to this counter?