KUALA LUMPUR: Construction of the proposed Komtar-Bayan Lepas Light Rail Transit (LRT) project, part of Penang’s multi-billion ringgit Transport Master Plan (PTMP), is expected to begin next year. Chief Minister Chow Kon Yeow said the project is currently awaiting conditional approval by the Transport Ministry, which would likely be obtained soon. He said a team from the Land Public Transport Agency (APAD) visited Penang about two weeks ago to view the proposed rail line alignment and suitability of locations for train stations. “Based on their suggestions and comments, our teamRead More
PETALING JAYA: AmInvestment Bank has maintained its “overweight” rating on the consumer sector, as consumer sentiment is expected to remain healthy on the back of recent consumer-friendly initiatives by the government.
It said in a report today that recent initiatives such as the reintroduction of petrol subsidy, capping of the electricity tariff and introduction of public transport subsidies, have contained the problem of rising cost of living and effectively put more money back into the pockets of consumers.
“The substitution of the Goods and Services Tax (GST) with the Sales and Services Tax (SST) is a net positive to consumers as the SST has a narrower scope compared with the GST,” it said.
According to the Malaysian Institute of Economic Research, the Consumer Sentiment Index has recovered beyond the 100-point confidence threshold after three years of a low sentiment trend.
AmInvestment Bank believes that the positive trend in consumer sentiment will be sustained as consumers become more confident of the government with expectations of more rakyat-centric government policies, better governance and transparency.
It expects private consumption to grow at 6.5% year-on-year on the back of a healthy labour market and stable inflation.
While the food and beverage sub-sector does not typically benefit from greater disposable income, AmInvestment Bank has identified Berjaya Food Bhd (BFood), Mynews Holdings Bhd and Power Root Bhd as the top picks for the sector.
It said that BFood is a beneficiary as improved consumer sentiment will drive discretionary spending while Mynews will be an indirect beneficiary of the public transportation subsidy.
“We reckon that this measure will boost foot traffic surrounding the train stations. Mynews currently operates more than 30 stores in the MRT, LRT and monorail stations,” it added.
Meanwhile, Power Root will be a potential beneficiary as it is a producer of staple products. It will also benefit from a stronger US dollar as around 50% of its sales are in exports.
Downside risks that may prompt it to review its call for the sector are weakening of the ringgit against the US dollar (its 2019 assumption average is RM4.12) and sluggish improvement to economic fundamentals, which could lead to a de-rating of the sector.
“A sluggish recovery in economic fundamentals such as high operational costs and a weak ringgit may not see consumers fully benefitting from savings tied to the SST reintroduction and consumer-friendly measures, thereby dampening the recovery in consumer sentiment,” it said.
KUALA LUMPUR: The government has announced that 45 per cent of the Light Rail Transit 3 (LRT 3) contracts worth RM9 billion would be awarded to Bumiputera companies through the ‘carve out and compete’ concept. Prime Minister Datuk Seri Najib Tun Razak said the eligible companies had to compete among themselves based on merit. “It […]
KUALA LUMPUR: CIDB Holdings Sdn Bhd is inviting Malaysian companies to take advantage of the vast opportunities that exist for them in India’s railway industry. Inviting Malaysian construction stakeholders to the “Indian Rail Land and Stations Redevelopment Business Opportunities In India” seminar, co-hosted by CIDB on March 20, Chairman Datuk Seri Ir Judin Abdul Karim […]
BEIJING (Nov 28): China’s top economic planner approved a 247 billion-yuan railway plan to link Beijing to neighboring cities as part of a government effort to improve connectivity around the nation’s capital.
The proposal is for nine lines connecting Beijing to the nearby port city of Tianjin and cities in northern Hebei province, as well as to a new airport in the capital, the National Development and Reform Commission said in a statement on its website Monday. The government is seeking a range of investors for the project, it said, without providing more details.
Source: The Edge Markets
KUALA LUMPUR (Nov 21): Fajarbaru Builder Group Bhd’s associate company is buying a freehold land measuring 676 sq meter within the central business district of Melbourne, Australia, for A$25.6 million (RM84.15 million) cash.
In a bourse filing with Bursa Malaysia today, the construction outfit said its associate 320 Queen Street Project Pty Ltd is buying the land from the Celtic Club Inc.
Source: The Edge Markets
ISE (Japan), may 26 — World leaders kicked off two days of G7 talks in Japan today, with the creaky global economy taking centre stage and disquiet over China’s growing influence looming over proceedings. Heads of state and government from the United States, Britain, France, Germany, Italy, Canada and host Japan are meeting in Ise-Shima, a mountainous region about 300km southwest of Tokyo. The group, including US President Barack Obama — who is making a historic trip to the atomic-bombed city of Hiroshima today — visited Ise Jingu, a shrineRead More
Saratoga townhouses at Point Cook. KUCHING: Planning to send your children to Australia for education? What would be a better option for parents – investing in Australian or Malaysian property to achieve the objective? How could a buyer qualify for a loan for this purpose? Which state in Australia to invest in? What are the latest changes in foreign investment criteria in Australia and the respective states? How does this affect a buyer’s initial investment? These and many more questions will be answered when potential buyers attend the upcoming AustraliaRead More
Saratoga Park View which is located 25km southwest of Melbourne CBD. KUCHING: Kozin Real Estate Sdn Bhd will be holding its Australia Property Showcase 2016 at The Palace Hotel in Kota Kinabalu, Sabah from 10am to 6pm this weekend (March 5-6) and at Sabah Hotel in Sandakan from 10am to 6pm on March 12-13.According to a press statement received here yesterday, opportunities to invest in some of Australia’s best cities would be presented at the showcases highlighting the different economic dynamics and attractions of each state catering to various typesRead More
SINGAPORE (Feb 3): Transport operator SMRT Corp has awarded Otis Elevator Co (S) Pte Ltd a $47.3 million contract to upgrade escalators along the North-South and East-West rail lines. Under the agreement, Otis Singapore, a unit of New York-listed United Technologies Corp, will modernise 233 escalators at 42 train stations along the NSEW lines from the third quarter of this year. Completion is slated for 2021. Categories: Latest NewsCorporate Source: The Edge Tags: singapore, train stations