T7 has formed a near perfect PENNANT after 5 days of consolidation with strong support at 0.530-0.535.
All signals are aligned waiting for a breakout from the upper line of the symmetrical triangle, ie once Diam concludes the ECRL's deal in China...any moment from now!!
FOLLOWING months of negotiations, Malaysia and China have reached an agreement to resume the East Coast Rail Link (ECRL) project, which was suspended last July.
It will be carried out on a smaller scale, and at a lower cost with some changes to the route, Sin Chew Daily reported today.
The daily learnt that the cost of the project, which was originally tagged at RM66 billion, will be slashed by more than RM10 billion.
A well-placed source told the daily that what the two parties had arrived at was a win-win solution as the re-negotiated project includes new commercial elements, which will bring about greater benefits to local entrepreneurs and people.
It is learnt that an agreement will be signed prior to Prime Minister Tun Dr Mahathir Mohamad’s visit to China at the end of this month, marking the resumption of the project.
The source said Council of Eminent Persons chairman Tun Daim Zainuddin, who is representing Malaysia in the negotiations, will fly to Beijing soon to sign the agreement.
Mahathir is scheduled to visit China from April 24 to 28 at the invitation of Chinese premier Xi Jinping to attend the second Belt and Road Initiative summit.
It is understood that Mahathir will address the summit and emphasise Malaysia’s support for the Belt and Road Initiative.
According to the report, environmental considerations are the main reason that changes will be made to the ECRL route.
Is okay, as long theres project resume, meaning government is taking the step to provide more projects soon. Dont have to scare people. Dont forget MRT 3 and HSR as well
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....
ran777rpt
2,945 posts
Posted by ran777rpt > 2019-04-04 10:42 | Report Abuse
ECRL counters are moving!!!!!