By Sharen Kaur
sharen@nstp.com.my
Published in NST on October 29, 2012
DRB-HICOM Bhd is expected to partner Japan's Mitsubishi Heavy Industries Ltd to help lay railway tracks for Line 1 of the Klang Valley Mass Rapid Transit project.
Last Monday, Mitsubishi Heavy Industries won a RM855 million contract from Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) to lay railway tracks for Sg Buloh-Kajang line for the project.
The award of the contract is the first win for Mitsubishi in the Klang Valley Mass Rapid Transit project.
DRB-HICOM's track record with railway jobs includes the RM4.6 billion Rawang to Ipoh electrified double-tracking project awarded to the company in 2000.
The project is part of government efforts to electrify and double-track the country's railway, enabling trains to run at a maximum speed of 160kph.
The government, however, had in mid-May 2005 terminated the contract with DRB-HICOM.
The reason was because the 182km was 17 months behind schedule and had exceeded the budget.
DRB-HICOM is looking to bid for the Gemas-Johor electrified double-tracking project.
The government has not indicated when the project will start.
ECM Libra Research is maintaining its "buy" call on DRB-HICOM shares, with a target price of RM3.45.
DRB-HICOM is expected to receive a net gain of RM446.2 million from the sale of the entire business of Hicom Power Sdn Bhd, including all of its assets and liabilities to Sterling Asia Sdn Bhd, a unit of Malakoff Power Bhd.
For the financial year ended March 31 2012, DRB-HICOM's earnings rose 173.6 per cent to 1.29 billion, from RM472.46 million in fiscal 2011. Its revenue increased by one per cent to RM6.88 billion.
The stock close closed seven sen higher on Thursday at RM2.47.
Mitsubishi Heavy Industries is a Japanese multinational engineering, electrical equipment and electronics company headquartered in Tokyo.
Earlier this month, it won a bid with Sumitomo Corp worth about 21 billion yen (RM800 million) for the electrification and double-double tracking project of a main railway line in Jakarta, Indonesia.
sharen@nstp.com.my
Published in NST on October 29, 2012
DRB-HICOM Bhd is expected to partner Japan's Mitsubishi Heavy Industries Ltd to help lay railway tracks for Line 1 of the Klang Valley Mass Rapid Transit project.
Last Monday, Mitsubishi Heavy Industries won a RM855 million contract from Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) to lay railway tracks for Sg Buloh-Kajang line for the project.
The award of the contract is the first win for Mitsubishi in the Klang Valley Mass Rapid Transit project.
DRB-HICOM's track record with railway jobs includes the RM4.6 billion Rawang to Ipoh electrified double-tracking project awarded to the company in 2000.
The government, however, had in mid-May 2005 terminated the contract with DRB-HICOM.
The reason was because the 182km was 17 months behind schedule and had exceeded the budget.
DRB-HICOM is looking to bid for the Gemas-Johor electrified double-tracking project.
The government has not indicated when the project will start.
ECM Libra Research is maintaining its "buy" call on DRB-HICOM shares, with a target price of RM3.45.
DRB-HICOM is expected to receive a net gain of RM446.2 million from the sale of the entire business of Hicom Power Sdn Bhd, including all of its assets and liabilities to Sterling Asia Sdn Bhd, a unit of Malakoff Power Bhd.
For the financial year ended March 31 2012, DRB-HICOM's earnings rose 173.6 per cent to 1.29 billion, from RM472.46 million in fiscal 2011. Its revenue increased by one per cent to RM6.88 billion.
The stock close closed seven sen higher on Thursday at RM2.47.
Mitsubishi Heavy Industries is a Japanese multinational engineering, electrical equipment and electronics company headquartered in Tokyo.
Earlier this month, it won a bid with Sumitomo Corp worth about 21 billion yen (RM800 million) for the electrification and double-double tracking project of a main railway line in Jakarta, Indonesia.
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