We know the rumour has been out for awhile but has this already been priced by the market? Sure doesn't look like it considering the % movement during the past week.
1.98B out of a total project cost of 3.7B. That is 52% take of the project cost.
"The government has received notification from Adil Permata Sdn Bhd in regard to its “white knight” to take over the company and its RM3.7 billion Rapid Transit System Link (RTS Link) project connecting Bukit Chagar in Johor Bahru to Woodlands in Singapore, according to Transport Minister Datuk Seri Dr Wee Ka Siong."
This engineering contract awarded by Adil Permata to Ekovest for the construction of the RTS project works is coming from a Private limited company and not directly from the government or Johor state. Indirectly means Ekovest will bearing and funding the entire construction cost of the project. With rising building material costs up significantly the last 2-3 months. It's worrying {risk} if the is any delay or mismatch in construction fundings. The cost is 1.98 billion bear by Ekovest alone. Not really a plum job if you look into the fine prints .a limited 4 year timeline
Announcement without any detailed work attachment{s} on actual contractual award, fundings, land acquistion, project scope and variable cost adjustment and most critical any EIA studies?
I am sure that a shrewd businessman like Lim is very aware of the ins and outs of the construction industry and I do not think he entered into this hugh contract without doing his homework. Having done so much construction he would be aware of cost variations. Am very sure they did not sign a contract without allowance for variations. That is just a normal business practice. As for the the rest of the feasibility studies, pretty sure they have their own people have a look into it before anything is sign. No way LIm is going to get himself burnt on this big project. DYOA.
The Board of Directors of Ekovest (“Board”) wishes to announce that our wholly-owned subsidiary, Ekovest Construction Sdn Bhd (“ECSB”) has been accepted by Malaysia Rapid Transit System Sdn Bhd (“MRTS”) (a wholly-owned subsidiary of Mass Rapid Transit Corporation Sdn Bhd), the developer and owner of the civil infrastructure for the section of Malaysia in Johor Bahru to Singapore Rapid Transit System Link Rail connecting Johor Bahru and Singapore (“RTS Link Project”), as the collaborative partner of Adil Permata Sdn Bhd (“APSB”), the appointed main contractor by MRTS for the RTS Link Project, to undertake the construction of the RTS Link Project.
Ekovest get direct contract from government instead of get subcontract from adil permata. Ekovest status jointly partner, not subcontractors
Najib whisked away in black SUV to begin 12-year-jail sentence, as daughter vows, ‘Bossku does not end here’ By Soo Wern Jun Tuesday, 23 Aug 2022 7:05 PM MYT
KUALA LUMPUR, Aug 23 — After more than four years of being on trial for misappropriating funds from SRC International Sdn Bhd and losing his final appeal against his conviction today, former prime minister Datuk Seri Najib Razak was seen departing the High Court to begin his 12-year-jail sentence.
The decision today marks a historic moment for Malaysian politics as the country will witness for the first time a former prime minister sent to prison.
"I’m sorry,” were his last words heard when he met with his supporters at the rear entrance of the Palace of Justice…..
It is 2 months out from their release of news on the RTS. Still no earth moving equipment. They got approximately 4 years to complete. Are they a slow performing company or are they still trying to hatch it?
Aha...i saw part of jockers start floating out try to sell prospect , news rumors and futures aldy...beware guys.... dont kena....drop balik will diving back to the deep sea....
tu normal...once up haft cent , all guru2 expert will float out from deep sea to sell their grandfather story, now continue koyak....all of them diving back to the deep blue sea , typical jocker pattern, hopefully nobody kena their nonsence la...
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....
RWG
1,051 posts
Posted by RWG > 2022-07-05 19:18 | Report Abuse
https://www.theedgemarkets.com/article/ekovest-bags-rm198-bil-award-appointment-rts-link-collaborative-partner