By Sharen Kaur
Published in NST on December 14, 2010
THE proposed Kuala Lumpur-Singapore high-speed train project, costing between RM10 billion and RM12billion, may be included in the national public transport master plan, said the chief of The Land PublicTransport Commission (Spad).
Spad chief executive officer Mohd Nur Ismal Kamal said a feasibility study is being undertaken to examineviability of the project.
"The project may be considered in the master plan but we are not sure yet. The study will show how thehigh-speed train can be integrated with other public land transport," he said on the sidelines of the NationalSummit on Urban Public Transport 2010 in Kuala Lumpur yesterday.
Malaysia is mulling over a high-speed rail linking Kuala Lumpur and Singapore that will cut travel timebetween the two cities to 45 minutes.
A few companies, including YTL Corp Bhd and Hartasuma Sdn Bhd have made presentations to the NationalKey Economic Area (NKEA) lab on the project, involving a distance of about 300km.
Spad chairman Tan Sri Syed Hamid Albar said the configuration of the high-speed rail would need to belooked into in detail before the project can be considered.
Spad, set up in June this year to regulate the land public transport sector, is drawing up a 20-year master planto ensure the holistic development of public transport in the country.
The master plan will look into all aspects of public transport, including connectivity and accessibility,ensuring the development of a more integrated public transport system.
It will start with the Greater Klang Valley providing connectivity between buses, taxis, the light rail transit(LRT) system, the express rail link (ERL), monorail and the mass rapid transit (MRT) system.
Syed Hamidtold reporters that the backbone of public transport will be urban rail, led by the RM40 billion MRT system.
"The MRT is going to be important. Most important is the route alignment to integrate public transport.Mobility and commercial areas need to be looked at for the routing," he said.
Syed Hamid said Spad is already engaging with the public, non-government organisations and publictransport operators on feedback to draw up the master plan and submit to the government by September nextyear.
The government is targeting 25 per cent of the population in Greater Klang Valley to use public transport by2012, and 30 per cent by 2015, from 12 per cent now.1/2
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Friday, December 24, 2010
Petronas Carigali to be Bursa's big draw
By Sharen Kaur
Published in NST on December 24, 2010
Petronas Carigali Sdn Bhd, the exploration unit of Petroliam Nasional Bhd, may be listed on Bursa Malaysia next year and it is expected to attract a large number of foreign funds.
"The mother of all initial public offerings (IPO) next year will be Petronas Carigali. We need companies like this to make Bursa attractive," said MIDF Amanah Investment Bank Bhd senior vice president and head of research, Zulkifli Hamzah.
Petronas officials could not be reached for comment. Zulkifli said analysts have been told by Bursa officials of a possible IPO for Petronas Carigali.
OSK Research head Chris Eng said Petronas Carigali should be the largest IPO ever in Malaysia, with a potential market value of close to RM150 billion.
This would eclipse current leader Malayan Banking Bhd, with a market value of RM62 billion as at yesterday.
Zulkifli also expects foreign shareholdings in the local equity market to rise to more than 26 per cent next year from 21.7 per cent now.
This will be spurred by the reclassification of Malaysia as an Advanced Emerging Market effective June 2011 under the FTSE indices. It is estimated that foreign funds with some US$3 trillion (RM9.4 trillion) track these indices.
Zulkifli told reporters at a media briefing in Kuala Lumpur yesterday that MIDF is bullish about the 2011 economic outlook.
"We are bullish, but with a caveat. The caveat is how crude oil price is going to unwind. If it hits US$110 (RM343) per barrel, then fear factor will hit.
"If it goes beyond US$110, then the world could enter another economic crisis. People will move back to US dollars for safety," Zulkifli said.
On the eight short-term factors, Zulkifli said Malaysia can expect more mergers and acquisitions, while corporate earnings growth may hit 15.8 per cent from 14 per cent now on strong growth in banking, plantation and construction sectors.
"We also see bigger IPOs next year, a rally in crude oil and commodity prices and contribution from the Economic Transformation Programme," he said.
The benchmark FTSE Bursa Malaysia KLCI is expected to trade between 1,475 and 1,650 points next year, representing up to 18 times its 2011 earnings.
(ends)
Published in NST on December 24, 2010
Petronas Carigali Sdn Bhd, the exploration unit of Petroliam Nasional Bhd, may be listed on Bursa Malaysia next year and it is expected to attract a large number of foreign funds.
"The mother of all initial public offerings (IPO) next year will be Petronas Carigali. We need companies like this to make Bursa attractive," said MIDF Amanah Investment Bank Bhd senior vice president and head of research, Zulkifli Hamzah.
Petronas officials could not be reached for comment. Zulkifli said analysts have been told by Bursa officials of a possible IPO for Petronas Carigali.
OSK Research head Chris Eng said Petronas Carigali should be the largest IPO ever in Malaysia, with a potential market value of close to RM150 billion.
This would eclipse current leader Malayan Banking Bhd, with a market value of RM62 billion as at yesterday.
Zulkifli also expects foreign shareholdings in the local equity market to rise to more than 26 per cent next year from 21.7 per cent now.
This will be spurred by the reclassification of Malaysia as an Advanced Emerging Market effective June 2011 under the FTSE indices. It is estimated that foreign funds with some US$3 trillion (RM9.4 trillion) track these indices.
Zulkifli told reporters at a media briefing in Kuala Lumpur yesterday that MIDF is bullish about the 2011 economic outlook.
"We are bullish, but with a caveat. The caveat is how crude oil price is going to unwind. If it hits US$110 (RM343) per barrel, then fear factor will hit.
"If it goes beyond US$110, then the world could enter another economic crisis. People will move back to US dollars for safety," Zulkifli said.
On the eight short-term factors, Zulkifli said Malaysia can expect more mergers and acquisitions, while corporate earnings growth may hit 15.8 per cent from 14 per cent now on strong growth in banking, plantation and construction sectors.
"We also see bigger IPOs next year, a rally in crude oil and commodity prices and contribution from the Economic Transformation Programme," he said.
The benchmark FTSE Bursa Malaysia KLCI is expected to trade between 1,475 and 1,650 points next year, representing up to 18 times its 2011 earnings.
(ends)
Takeover of Sunrise boosts UEM Land's job portfolio
By Sharen Kaur
Published in NST on December 23, 2010
UEM Land Holdings Bhd's takeover of Sunrise Bhd will strengthen its portfolio with the completion of several projects overseas, its chief says.
Currently, UEM Land is focused on township developments in Nusajaya, Johor, Cyberjaya and Bangi in Selangor.
"With Sunrise, we will have the capacity to develop high-rise residences and commercial properties here and overseas," said UEM Land managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim.
UEM Land now controls 84.5 per cent of Sunrise, which has projects in Canada.
Yesterday, shareholders approved UEM Land's proposed acquisition of Sunrise for RM1.39 billion or RM2.80 per share.
"Sunrise's project in Canada will now be part of our portfolio," Wan Abdullah said after UEM Land's extraordinary general meeting (EGM) in Subang, Selangor, yesterday.
Sunrise has a mixed-use project worth more than RM1 billion in Richmond, Vancouver, comprising five 16-storey towers.
UEM Land, meanwhile, has 16ha of land in Durbin, South Africa, where it plans to undertake a mixed development in a 50:50 joint venture with the local authority.
"The project is located near Port of Durbin and we will be tapping Sunrise's expertise. The takeover comes at a time when the 16ha is ripe for development," he said.
Wan Abdullah said shareholders had been told about the prospects and direction of the enlarged UEM Land group.
"The actual number of Sunrise shares transferred to UEM Land has reached 84.5 per cent, hence, we would likely be looking towards delisting Sunrise.
"If there is further take-up by Sunrise's shareholders during the extended offer period, we may reach the requisite threshold whereby we can then acquire Sunrise's entire equity interest," he said.
He said the next step is to roll out its integration strategy and initiatives that will mutually benefit UEM Land and Sunrise.
(ends)
Published in NST on December 23, 2010
UEM Land Holdings Bhd's takeover of Sunrise Bhd will strengthen its portfolio with the completion of several projects overseas, its chief says.
Currently, UEM Land is focused on township developments in Nusajaya, Johor, Cyberjaya and Bangi in Selangor.
"With Sunrise, we will have the capacity to develop high-rise residences and commercial properties here and overseas," said UEM Land managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim.
UEM Land now controls 84.5 per cent of Sunrise, which has projects in Canada.
Yesterday, shareholders approved UEM Land's proposed acquisition of Sunrise for RM1.39 billion or RM2.80 per share.
"Sunrise's project in Canada will now be part of our portfolio," Wan Abdullah said after UEM Land's extraordinary general meeting (EGM) in Subang, Selangor, yesterday.
Sunrise has a mixed-use project worth more than RM1 billion in Richmond, Vancouver, comprising five 16-storey towers.
UEM Land, meanwhile, has 16ha of land in Durbin, South Africa, where it plans to undertake a mixed development in a 50:50 joint venture with the local authority.
"The project is located near Port of Durbin and we will be tapping Sunrise's expertise. The takeover comes at a time when the 16ha is ripe for development," he said.
Wan Abdullah said shareholders had been told about the prospects and direction of the enlarged UEM Land group.
"The actual number of Sunrise shares transferred to UEM Land has reached 84.5 per cent, hence, we would likely be looking towards delisting Sunrise.
"If there is further take-up by Sunrise's shareholders during the extended offer period, we may reach the requisite threshold whereby we can then acquire Sunrise's entire equity interest," he said.
He said the next step is to roll out its integration strategy and initiatives that will mutually benefit UEM Land and Sunrise.
(ends)
Tuesday, December 21, 2010
Building up to a super bull run
By Sharen Kaur
sharen@nstp.com.my
Published in NST on December 21, 2010
A super bull run is on the horizon for Malaysian construction stocks next year on optimism that the RM40 billion Mass Rapid Transit project will start in July.
The bullish outlook is also backed by new government initiatives such as the Economic Transformation Programme and the 10th Malaysia Plan, said UOB KayHian head of research Vincent Khoo.
Research houses are maintaining their overweight call on the sector.
"We expect a bull run next year," Khoo told Business Times.
An analyst from TA Research said the stock market needs news like the MRT as a catalyst for construction stocks to sustain its upbeat momentum.
He said judging from the size of the MRT project, it is certain that almost all local construction companies will benefit.
"If the government divides the project evenly, then each company could get contracts worth RM500 million to RM1 billion. This augurs well for the sector," he said.
The MRT, comprising three lines, is the largest infrastructure project in Malaysia's history. The last project announced was the RM12.5 billion double tracks.
Analysts said the first of the three MRT lines, joining Sungai Buloh and Kajang, running through Kuala Lumpur City Centre, is estimated at RM14 billion. The line will cover 60km and have 35 stations.
They said MMC-Gamuda Joint Venture Sdn Bhd may get the tunneling portion from Sungai Buloh to Kajang, worth RM6 billion to RM8 billion.
Master Builders Association Malaysia president Kwan Foh Kwai expects companies like Sunway Construction, IJM Construction, Muhibbah Engineering, Bina Puri, Loh & Loh, MRCB Engineering, UEM Builders, WCT, Ranhill and Ahmad Zaki to bid for the MRT.
Others include Eversendai Corp, Crest Builders, Putra Perdana Construction and MTD ACPI.
Ahmad Zaki managing director Datuk Wan Zakariah Muda said the MRT news is positive for the sector. "There will be spillovers and knock-on effects. We plan to participate in the MRT," he said.
An official from Putra Perdana Construction Sdn Bhd said it will eye packages to build structures, stations, bridges and tunnel lining work.
(ends)
sharen@nstp.com.my
Published in NST on December 21, 2010
A super bull run is on the horizon for Malaysian construction stocks next year on optimism that the RM40 billion Mass Rapid Transit project will start in July.
The bullish outlook is also backed by new government initiatives such as the Economic Transformation Programme and the 10th Malaysia Plan, said UOB KayHian head of research Vincent Khoo.
Research houses are maintaining their overweight call on the sector.
"We expect a bull run next year," Khoo told Business Times.
An analyst from TA Research said the stock market needs news like the MRT as a catalyst for construction stocks to sustain its upbeat momentum.
He said judging from the size of the MRT project, it is certain that almost all local construction companies will benefit.
"If the government divides the project evenly, then each company could get contracts worth RM500 million to RM1 billion. This augurs well for the sector," he said.
The MRT, comprising three lines, is the largest infrastructure project in Malaysia's history. The last project announced was the RM12.5 billion double tracks.
Analysts said the first of the three MRT lines, joining Sungai Buloh and Kajang, running through Kuala Lumpur City Centre, is estimated at RM14 billion. The line will cover 60km and have 35 stations.
They said MMC-Gamuda Joint Venture Sdn Bhd may get the tunneling portion from Sungai Buloh to Kajang, worth RM6 billion to RM8 billion.
Master Builders Association Malaysia president Kwan Foh Kwai expects companies like Sunway Construction, IJM Construction, Muhibbah Engineering, Bina Puri, Loh & Loh, MRCB Engineering, UEM Builders, WCT, Ranhill and Ahmad Zaki to bid for the MRT.
Others include Eversendai Corp, Crest Builders, Putra Perdana Construction and MTD ACPI.
Ahmad Zaki managing director Datuk Wan Zakariah Muda said the MRT news is positive for the sector. "There will be spillovers and knock-on effects. We plan to participate in the MRT," he said.
An official from Putra Perdana Construction Sdn Bhd said it will eye packages to build structures, stations, bridges and tunnel lining work.
(ends)
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