PETALING JAYA: Boustead Holdings Bhd’s subsidiary Boustead Naval Shipyard Sdn Bhd announced that it has accepted a RM95.99 million contract from Malaysia’s Defence Ministry.
According to its filing with the stock exchange, the contract is for refitting works on Malaysian navy vessel KD Terengganu.
A formal contract between the government and the group will be signed at a later date.
“The contract is expected to contribute positively to current and future earnings of Boustead group,” it said.
PETALING JAYA: The civil works portion of the RM44 billion East Coast Rail Link (ECRL) project has attracted 1,321 submissions from construction companies during the pre-qualification exercise held on May 29 and 30.
According to the main contractor China Communications Construction Company Ltd (CCCC), participation of G7 category of CIDB rated companies topped the list with 859 submissions or 65% of total submissions.
This was followed by the Grade G5 category with 134 submissions and Grade G4 category with 132 submissions. The remaining consisted of Grade G3 and Grade G6 with 104 submissions and 92 submissions respectively.
The exercise, which was held to identify potential subcontractors, also attracted submissions from 994 Bumiputera engineering and construction companies representing 75.25% of overall registration.
Malaysia Rail Link Sdn Bhd (MRL) and CCCC said in a joint statement today that the response shows that local contractors are ready to demonstrate their willingness and capabilities to participate in mega infrastructure projects.
The revised ECRL project includes an increase in civil works participation for local contractors from 30% to 40% of the project, as agreed by the asset-owner MRL and CCCC.
“We also hope that ECRL project will be an exemplary government project that demonstrates the capabilities of our local contractors to work with an international contractor in carrying out and meeting the high standards of a large-scale infrastructure project,” said MRL CEO Datuk Seri Darwis Abdul Razak.
“With the participation of local contractors, this will not just act as stimulus to the local construction sector but will also serve as a catalyst in the transfer of knowledge and technology in view of the ECRL project to be among the most challenging engineering and construction projects in Malaysia,” he added.
MRL urged local industry players to participate in the ECRL project not just as contractors, but also as suppliers, consultants and other relevant scopes, and hopes that local contractors can demonstrate their capabilities, technical know-how and offer their services competitively.
“As such, we hope that Malaysian local contractors would highly benefit from the co-operation and sharing of knowledge and technology that will, in the end, maximise the commercial impact of the Malaysian government’s investment by increasing the competitiveness and also improvements in the quality of products and services provided by the Malaysian contractors,” said China Communications Construction (ECRL) Sdn Bhd managing director Bai Yinzhan.
Following the pre-qualification exercise, MRL will be working closely with CCCC in the evaluation and shortlisting process of 1,321 construction companies to be potential tenderers of the ECRL’s civil works packages. Companies that are successful in the shortlisting will be notified in writing by CCCC.
The ECRL project’s rail network would traverse the East Coast states of Kelantan, Terengganu and Pahang as well as the states of Negeri Sembilan, Selangor and Putrajaya. The 640km rail network is scheduled for completion by December 2026 and is expected to link Kota Bharu to Putrajaya in about four hours.
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PETALING JAYA: Caring Pharmacy Group Bhd will incorporate more local products in its pharmacies under the ‘Let’s Go Retail’ programme, paving the way for its expansion into second-tier cities in the country.
Managing director Chong Yeow Siang said currently 90% of its products are imported and its merchandise mix is more suitable for urban customers. Hence there is a huge potential for quality local products to be retailed in its outlets and for it to recommend to customers.
The Let’s Go Retail programme is a collaboration between Caring Pharmacy and business consulting & distribution company TriSuccess Global Sdn Bhd to help local entrepreneurs expand their business.
Under the initiative, Caring Pharmacy will commit to retailing Malaysian products that have passed its assessment, review and testing. In the initial phase, Caring will feature more than 20 products from over 120 merchants.
“With this Let’s Go Retail programme, we’re able to localise our merchandise mix and appeal to more customers,” Chong told SunBiz after signing the memorandum of agreement with TriSuccess here on Tuesday.
Some of the participating Malaysian brands are Ella, Serai Mas, Ana, Mary Jardin le fleur, Habada, Yooba Belle, Dominance, Kayman Beauty, Qaseh Bonda, Narinar, Turbo Gel and Dr Mama. All participating brands will be available from June 2019 onwards at selected Caring Pharmacy outlets by batches.
TriSuccess CEO Mohd Shahrilwan Mohd Sidek said there are many high potential “blue ocean” local brands in Malaysia and one of the objectives of the programme is to identify these brands and capitalise on the potential of these products and enable them to penetrate the retail market.
As the largest pharmacy chain in Malaysia, Caring Pharmacy has 126 outlets in Malaysia, except Perlis, Kedah, Terengganu and Sarawak.
In the East Coast region, Chong said, it only has an outlet each in Kelantan (Kota Baru) and Pahang (Kuantan); and also only one in Sabah (Kota Kinabalu) and will focus on adding more outlets in these places in the next financial year ending May 31, 2020.
Caring Pharmacy opens 12 to 15 outlets a year and Chong estimates that it will have 180 to 200 outlets in five years.
“Hopefully in five years, we’re able to be present in all the cities and second-tier towns in Malaysia to be a truly national pharmacy chain where customers can access our services and products,” said Chong.
Also present at the signing ceremony was Deputy Entrepreneur Development Minister Datuk Dr Mohd Hatta Md Ramli, who said that the government is finalising details of the National Entrepreneurship Policy, which will be submitted to the National Entrepreneur Strategic Development Council (NESDC).
“We’re now at the end of our findings and yesterday we had a townhall gathering of stakeholders and interested parties.
“We’re finalising the policy for entrepreneur development for the country. That will be submitted to NESDC to be confirmed as a national policy and we’ll find a proper direction of entrepreneur development,” he told a press conference after witnessing the signing ceremony.
The National Entrepreneurship Policy is expected to be launched by the Prime Minister in July.
Mohd Hatta declined to reveal what areas the National Entrepreneurship Policy will hinge on, only saying that “all important areas” will be covered.
The Entrepreneur Development Ministry is the secretariat to the NESDC, which is chaired by the Prime Minister.
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