KUALA LUMPUR: The new government’s decision to proceed with the East Coast Rail Link (ECRL) brings glad tidings to the East Coast residents as well as the Pahang branches of the Malay Contractors Association of Malaysia (PKMM) and the Malay Chamber of Commerce Malaysia (DPMM). Pahang PKMM President Abd Ghafar Lambak said it was appropriate […]
KUALA LUMPUR: Neutral impact is expected on ports and last-mile delivery players if the East Coast Rail Line (ECRL) is cancelled or delayed, according to analysts. This is due to the complexity of costs of intermodal logistics to be borne by companies in having to use other transportation such as trucks to transport cargo to […]
KUALA LUMPUR, May 22 — Shares of Petronas Chemicals Group on Bursa Malaysia were lower in the early session today, after the group reported lower earnings of RM1.07 billion for the first quarter financial result ended March 31, 2018. As at…
KUCHING: The new Pakatan Harapan (PH) government is expected by analysts to re-prioritise the implementation of infrastructure projects to reduce the foreign borrowings and contingent liabilities. Affin Hwang Investment Bank Bhd (AffinHwang Capital) believed the projects that will likely be affected include the RM55 billion East Coast Rail Link (ECRL), RM60 billion Kuala Lumpur-Singapore High […]
KUALA LUMPUR, May 16 — Despite the uncertainty over the future of major infrastructure projects in Malaysia following the Pakatan Harapan’s (PH) victory in the May 9 elections, projects such as the Kuala Lumpur-Singapore High-Speed Railway (HSR)…
KUANTAN (April 27): When Malaysia’s political parties unfurled their election flags and banners this month, Prime Minister Datuk Seri Najib Razak’s critics sniggered on social media that the manufacturer named on banners of his ruling coalition was Chinese. Tun Dr Mahathir Mohamad, who heads an alliance hoping to oust Najib, has seized on popular disquiet about Chinese investment pouring into Malaysia and turned it into an election issue. Najib, he says, is selling Malaysia out to China. This could matter for Beijing’s Belt and Road Initiative (BRI) and for Malaysia’sRead More
KUCHING: The long steel is being clouded by rising uncertainties this time around with weak steel demand in China being the biggest concern right now for the local steel industry. According to the research arm of Kenanga Investment Bank Bhd (Kenanga Research), the Malaysian steel industry is currently clouded by US President Donald Trump’s US […]
PETALING JAYA: Enra Group Bhd's wholly owned indirect subsidiary Enra Engineering And Fabrication Sdn Bhd (EEFab) has served a payment claim against Gemula Sdn Bhd for a total of RM10.22 million.
Served under Section 5 of the Construction Industry Payment and Adjudication Act 2012 (CIPAA), the payment claim is in relation to outstanding amounts due and payable by Gemula for works completed by EEFab under two letters of award, including additional/variation works ancillary to the subcontracts.
In a filing with Bursa Malaysia, Enra said it is necessary for EEFab to pursue the payment claims under CIPAA to best protect its interest.
“No provision for impairment loss is needed at this juncture and the cost of carrying out this action under CIPAA is not material in the current financial year ending March 31, 2018,” it said, adding that there is no operational impact arising from the payment claim.
In 2016, Gemula appointed EEFab as a subcontractor for the construction of main garage for 8 x 8 vehicles and troop vehicles as well as infrastructure at Kem Batu 10, a military base in Kuantan, Pahang.
Gemula had issued two letters of award to appoint EEFab to undertake the iron structure works for the project, the provision of construction materials and completion of all works for the project.