Pahang branches of PKMM, DPMM laud ECRL

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 […]

Neutral on industry if ECRL cancelled or delayed

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 […]

Petronas Chemicals down on slightly weaker earnings

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…

New govt likely to re-prioritise implementation of infra projects

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 […]

BMI Research: High-speed rail to remain intact, other projects face risks

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)…

Puncak Niaga bags RM490m sewage treatment plant job

PETALING JAYA: Puncak Niaga Holdings Bhd has been appointed as the principal sub-contract for a sewage treatment plant project in Kuantan worth RM489.93 million.

The group told Bursa Malaysia that its wholly owned subsidiary Puncak Niaga Construction Sdn Bhd had on May 2 entered into a principal sub-contract agreement with Jalur Cahaya Sdn Bhd for the contract, which runs from March 5, 2018 to Feb 19, 2022.

Under the contract, Puncak Niaga has to construct a new regional sewage treatment plant with a capacity of 200,000 population equivalent (PE) for the first phase with an ultimate capacity of 400,000 PE.

It also needs to construct the sewage conveyance system totaling 66km, new network pumping stations at identified locations and the routing of the main pumping station for rationalisation works.

At today’s market close, Puncak Niaga’s share price rose 1% to close at 46 sen on some 26,000 shares done.

Asdion queried over sharp rise in price and volume

PETALING JAYA: Loss making Asdion Bhd was slapped with an unusual market query by Bursa Malaysia, after the stock price jumped almost three fold in less than a month.

Asion's share price which stood at 17 sen on April 9, 2018, was trading at 47.5 sen earlier, with some 14.9 million shares changing hands in the first few hours of trading. 30 day average volume was at 8.9 million.

In the last one year the stock has gained 30%.

Asdion which is principally in information communication technology and logistics business, has had its financials adversely affected by a weakness in revenue from its ICT business and the moratorium on bauxite trading, which decreased the demand for the group’s stevedoring activities and ancillary logistics services in Kuantan Port and cut short its bauxite trading aspirations.

For the nine month period ended December 31, 2017 the company posted a net loss of RM1.5 million against revenue of RM3.4 million.

Selling the country to China? Debate spills into Malaysia’s election


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

Long steel clouded by rising trade disputes, declining demand

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 […]

Enra claims RM10.22m outstanding payment from Gemula

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.