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Dec 15, 2007

Gamuda, MMC dapat projek, rakyat dapat apa?

Gamuda, MMC win RM12.5 billion Malaysian rail project
By Stephanie Phang

(Bloomberg) -- Gamuda Bhd. and MMC Corp. won a 12.5 billion ringgit ($3.8 billion) contract to build a railway in western Malaysia, the nation's biggest rail project.

The 329-kilometer (204 mile) double-rail link connecting Ipoh in Perak state to Padang Besar on the northern border with Thailand, will take five years to complete, Gamuda, the country's second-largest builder by market value, said in a statement today.

Malaysia revived the project, first awarded to the companies in 2003, to replace a single rail system and build new stations as Prime Minister Abdullah Ahmad Badawi seeks to boost economic growth by lifting public spending. Revenue from the project will contribute to Gamuda's earnings this fiscal year ending July 2008, the Petaling Jaya-based company said.

``Their numbers are going to come in very strongly from this year onward,'' said Wong Chew Hann, an analyst at Aseambankers Malaysia Bhd. with a ``buy'' rating on Gamuda stock. Completing the project ``shouldn't be a problem.''

The original contract awarded in October 2003 was valued at 14.5 billion ringgit, and included a link in the south. Abdullah, who came into power in November that year, postponed the project in December to cut spending and trim the nation's deficit. |more...|

No2umnO - Rakyat dapat resit cukai dan dapat bayar tambang. Kita kena lagi !!!


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