frm stock market, we just can clearly see which goven is capable on handling money market. ex goven sure wont let it dwn so much..they will fight till foreign lose..but PH goven ? just dont knw wat to do..they still in blur n panic....five yrs time will see their capable..
our new cartoon MOF minister just say 'transparent governing' and hope our money market bounce bk?...a childish minister n useless..hey! msian retailers nw bleeding hard, u just do nothing?
Moron people will have stupid comment. New government has been formed less than a month and expect them to cover up the damn big hole immediately. You thought you are the only one who lost money due to the new policy and scrap all the mega projects?
[2018-0606_11:00am] RM22 billion to cancel ECRL NEARLY 20% of phase one of the controversial East Coast Rail Link project is completed.
The RM66 billion rail link is from Kelantan to Port Klang has been singled out by critics as the mega project Malaysia cannot afford.
But if the Pakatan Harapan government terminates the project, it will have to pay about ‎RM22 billion in compensation and penalty charges.
Documents sighted by The Malaysian Insight ‎reveal the compensation package includes payment to suppliers, dismantling costs, the loan principal, interest charges and committed orders for supplies and services.
Any dispute over the compensation amount is likely to be settled through arbitration, a process that could take several years.
Even more onerous is the contract with Exim Bank of China. The loan with the financial institution has no termination clause and termination of the contract results in a default of the loan that needs to be repaid within 30 business days.
Exim Bank is providing 85% loan financing for the ECRL project with the rest provided by local banks through sukuk financing.
The new government has voiced its misgivings about a clutch of infrastructure deals signed between the Najib government and Chinese companies. Their chief complaints are that the inflated pricing of these projects and its usefulness for Malaysia.
The Mahathir administration's approach is to terminate as many of these lopsided contracts as possible.
But in recent days, influential voices have sought to use more cautious language when discussing infrastructure projects by Chinese companies.
Daim Zainuddin, the chairman of the Council of Eminent Persons, said business contracts with China would be dealt with diplomatically.
"China is very important to us. We enjoy very close relations, but unfortunately under the previous administration, a lot of Chinese contracts are tainted, difficult to understand and the terms are one-sided, " he told The Star.
Daim has opened lines of communication with the Chinese ambassador, Bai Tian, saying any cancellation or review of the project would be handled through diplomatic channels.
On its part, the company behind the ECRL is preparing best and worst case scenario projections for the Malaysian government. – June 6, 2018.
Actually this ECRL is not using by us mostly, it's convin for China to deliver their items. How many passenger per day from Kelantan & Terengganu wanna take train to KL or Port Klang?
frm wat I see, this project might highly proceed ..coz it oly started and the compensation is huge ..unless new government don't care taxpayers money and feel not pain to just pay this huge amt to them
it might at ard 1.5 - 1.6 first ? ..warrant expire by 20jul ..and lot private placement at 1.12 b4 ..and epf still hv at least more than million in hand ..at price near or just over rm1
June 10, 2018_ECRL project owner: Information in weekly's report 'incorrect and misleading' [Highlight] In the story, The Edge wrote: “The ECRL contract comes with a clause requiring CCCC (China Communications Construction Co Ltd) to nominate a company unrelated to it to buy 70% of PPB (Putrajaya Perdana Bhd) for US$244 million as well as 90% of Loh & Loh for US$71 million."
The Edge also said that both companies (PPB and Loh & Loh) are linked to Jho Low. Low is currenly being sought by Malaysian authorities for probes into the 1Malaysia Development Bhd scandal.
Meanwhile, MRL also said that the "ECRL has made 14.33% in the overall progress of its construction which includes setting up of base and satellite camps in all eight sections of the project, land acquisition, site clearing and construction of road access".
"Multiple road access totalling some 95 kilometres in length and temporary bridges spanning 1,067 meters have been constructed at many of the ECRL project sites in the East Coast states," it said in the same press release.
"As of now, the construction works for seven tunnels in various parts of the rail alignment in Pahang and Terengganu have commenced," said MRL.
Posted by PotentialGhost > Jun 6, 2018 09:13 PM | Report Abuse
Let's thAt all pukimak panic seller and rush high behaviour investor lose until mother can't recognized , good !! _______________________________________________________________________
gih gih gih
He lose, his mama gv him more money to play with lor. Becos he is mama's boy lor.
gih gih gih
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Posted by clementlee > 2018-06-04 19:44 | Report Abuse
frm stock market, we just can clearly see which goven is capable on handling money market. ex goven sure wont let it dwn so much..they will fight till foreign lose..but PH goven ? just dont knw wat to do..they still in blur n panic....five yrs time will see their capable..