MRCB and Sunway win LRT extension contracts

The Star 17 Aug 2011

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) and Sunway Holdings Bhd have won contracts worth RM1.33bil and RM569mil for the light rail transit extension of the Ampang line and Kelana Jaya line respectively from Syarikat Prasarana Negara Bhd (SPNB).


In separate statements yesterday, Sunway and MRCB said the contracts for the construction and completion of facilities (Package B) were awarded to their respective wholly-owned units - Sunway Construction Sdn Bhd and MRCB Engineering Sdn Bhd (MESB).

Sunway said it expected the contract to boost its construction order book to approximately RM2.5bil.

“Under Package B awarded to Sunway Construction, the facilities works will involve the construction and completion of facilities along a 8.1km route from Persiaran Kewajipan, Subang Jaya to Putra Heights.

The works include site clearance, earthworks, viaduct construction, roadworks, drainage works, traffic management, structural works and temporary works.

“The project is expected to contribute positively to the Sunway group's earnings for the financial year ending 2012 onwards. Works on the project is estimated to be completed in 29 months from the date of possession of the site,” it said.

In a separate development, Sunway Holdings also said it has been shortlisted by SPNB to bid for all the Mass Rapid Transit packages under the open category which includes elevated civil works, stations and depot.

MRCB told Bursa Malaysia yesterday that its contract from SPNB would involve the construction and completion of facilities works that include the fabrication and delivery of segmental box girders (Package B) for the Ampang line extension project. The construction period will be 30 months from the date of possession of site.

MRCB also said the SPNB had awarded MESB, the sub-contract for the fabrication and delivery of segmental box girders (Package B) for the Kelana Jaya line extension project. MESB is a nominated sub-contractor to Sunway Construction for the sub-contract worth RM67.2mil.

The construction period for the works is 20 months.

EPF consortium likely to buy government land around KL

EPF consortium likely to buy government land around KL
MI

KUALA LUMPUR, Dec 23 — The Employees Provident Fund could end owning three of the best pieces of real estate in the Klang Valley — and in the process boost government coffers by several billion ringgit.

Government sources told The Malaysian Insider that an EPF-led consortium is a cusp away from snaring the 204 acres in Jalan Cochrane while the EPF with its unmatched financial muscle is the clear favourite to buy a tract of land at the sought-after Rubber Research Institute of Malaysia in Sungai Buloh and Jalan Ampang.

In November, Finance Minister Datuk Seri Najib Razak announced that the government would be monetising some of its assets, including pieces of valuable real estate. For a start, government-owned land in Jalan Cochrane, Sungai Buloh and Jalan Ampang would be placed on the market.

This news created a buzz in the market because the land in Jalan Cochrane and Sungai Buloh has been eyed by prominent politicians and well-connected businessmen for years. Property consultants have valued the three pieces of land at between RM8 and RM12 per square foot (Sungai Buloh); RM150 and RM250 (Ampang) and RM100 and RM200 (Jalan Cochrane).

In a recent article in the Edge Financial Daily, a few property developers gave the Cochrane land the thumbs-up for its location and size, expecting the land value to increase to RM250psf if it is parceled into smaller plots while several others favoured the Ampang Hilir land, noting its proximity to the exclusive U Thant area puts a premium on this tract.

Government sources said that the EPF and several property players including MRCB have submitted a master plan to the government to develop the Cochrane area. With crude oil price hovering around US$50 per barrel and the drop in palm oil price, the government's ability to collect revenue will be severely challenged in 2009.

At the same time, the government will have to spend more and consider launching more stimulus packages to boost domestic demand and cushion the impact of the global economic crunch on the Malaysian economy. Faced with these twin challenges, the administration is looking at monetising its assets to raise funds. Property developers have valued the three pieces of land at about RM3 billion.

Scomi eyes Penang, India monorail deals

Scomi eyes Penang, India monorail deals
By Kamarul Yunus
Published: 2008/06/24
Business Times

SCOMI Engineering Bhd, a unit of Scomi Group Bhd, is upbeat about securing a monorail contract in Mumbai, India, but hopes to secure the monorail project in Penang first.Its president, Hilmy Zaini, said the company wants to introduce its second generation monorail called Sutra, which was launched in November last year in Penang, before launching the new innovative system to other parts of the world."It would be good for us to launch the new Sutra at the company's hometown in Penang," he told reporters after Scomi Engineering's annual general meeting in Kuala Lumpur yesterday.Hilmy was asked to update the progress of the monorail project in Penang, which is currently facing uncertainty.

"There is nothing much to update. We are waiting for the results (whether to go on with the project or not). We don't know when (a decision will be made)."The Mumbai monorail project is closing the tender in a few weeks time. But we hope to get the Penang monorail first," he said.Scomi is part of a group that includes Malaysian Resources Corp Bhd (MRCB), which is bidding for the monorail project on Penang island.In January this year, Syarikat Prasarana Negara Bhd awarded a letter of intent for the project to MRCB, which formed a consortium with Penang Port Sdn Bhd and Scomi Engineering Bhd.However, the project has been put in doubt after the Pakatan Rakyat win in Penang during the last general elections on March 8.Apart from Mumbai and Penang, Hilmy said, the company is also looking to bid for monorail projects in the Middle East, Vietnam, Africa and several cities in India.He said the company has been engaged to conduct feasibility studies in Vietnam and Saudi Arabia."We hope to complete the study in Vietnam in three months times, while in Saudi Arabia it will take between six months and a year to complete. "When completed, we will present our findings to the respective authorities and submit our bids for the projects," he said.Hilmy said the company aims to set up two new machine shops in a year, starting from 2009.

MRCB wants to fully take over TTSB

Saturday May 17, 2008 The Star
MRCB wants to fully take over TTSB
KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) has proposed to acquire Permodalan Nasional Bhd’s (PNB) 45% equity interest in Transmission Technology Sdn Bhd (TTSB) for RM52.7mil, thus raising its interest to 100%.
TTSB is the 55:45 joint venture company between MRCB and PNB set up to carry out 500kV and 275 kV transmission line projects for Tenaga Nasional Bhd. – Bernama

MRCB on Saudi Sentral and Penang Monorail

MRCB to formalise Saudi venture this year
Published: 2008/03/27 BUSINESS TIMES
INVEST MALAYSIA 2008 CONFERENCE

MALAYSIAN Resources Corp Bhd (MRCB) is expected to formalise its Saudi Arabia venture to develop a US$2 billion (RM6.4 billion) property and urban transportation hub this year. "We hope to replicate what we've done here in KL Sentral," MRCB group managing director Shahril Ridza Ridzuan said. He declined to identify the group's partner in Saudi Arabia. KL Sentral, Malaysia's biggest bus and rail hub, include strategically located hotels, apartments and government offices. Shahril was speaking to reporters at the sidelines of the two-day Invest Malaysia 2008 conference held in Kuala Lumpur yesterday.

In January, Syarikat Prasarana Negara Bhd had given a letter of intent for the Penang monorail project to MRCB and its consortium partners, namely Penang Ports Sdn Bhd and Scomi Group subsidiary MTrans Transportation Systems Sdn Bhd.

There is concern that a change in government in Penang could evoke investment uncertainty.
Asked to comment on the proposed Penang monorail project, Shahril replied, "it cannot be said there is a delay or not when in the first place, the project has not been awarded." He also said it was premature to talk about the estimated cost of the proposed Penang monorail project as the route has not been finalised. While the project will be funded by the federal government, land on which the rail will run through will come under the state government's purview.

"Let us not speculate on what is going to happen. Both the federal and state governments have stated their intentions to implement mega projects, they will finalise the terms of the project," he said.

On key performance indicators for the current financial year, Shahril said the MRCB is on track to achieve a pre-tax profit of RM90 million on RM1.2 billion. "We're optimistic of a 30 to 40 per cent growth from last year," he said.