Malaysia Resources
Corp Bhd (RM1.73/share)
In line for RM1b MRT
job
Malaysia Resources Corp Bhd (MRCB) is expected to win a
contract worth about RM1bil this week for the Sungai Buloh-Kajang (SBK) MY
Rapid Transit (MRT) line. If awarded, this will be the first railway-related
job for MRCB this year. MRCB, which is 42% owned by the Employees Provident
Fund, also won a RM1.3bil contract for the Ampang light rail transit (LRT)
extension project in August 2011. Business Times learnt that the latest
contract is to build viaduct guideways and other associated works between the
Taman Mesra and Kajang stations. Sources close to MRT Corp said it was also
expected to award several contracts to build stations and a depot over the next
few weeks. This includes a contract worth RM1.6bil to supply trains for the SBK
line. MRT Corp has received bids from Changchun Railways Vehicle Co Ltd,
Siemens SMH Rail Consortium and CSR Zhuzhou Electric Locomotive Co Ltd to
supply the trains. So far, MRT Corp has awarded 33 contracts valued at
RM15.5bil for the SBK line. There are 21 contracts in the process of
evaluation. The remaining 31 contracts will be awarded by the end of this
year. – Business Times
Banking Sector
Developments in
S’pore may impact M’sia banking scene
A recent issuance of banking licences in Singapore may have
some implications on the Malaysian banking system, according to industry
sources. Recently, the Monetary Authority of Singapore (MAS) said it would be
granting two full-fledged licences in the city state to two Chinese banks which
MAS had not named just yet. The full banking licences, called Qualifying Full
Bank (QFB) licences in Singapore, will be issued to two Chinese banks already
operating in Singapore. However, what is noteworthy is that this has taken
place amidst a long-standing application for a full-fledged banking licence in
Singapore by Malaysia’s CIMB Group Holdings Bhd. The only Malaysian bank with
this type of privileged licence in Singapore today is Malayan Banking Bhd. Reports
have indicated that Singapore’s DBS Bank Ltd is seeking to penetrate the Malaysian
market after Bank Negara had in April given the go-ahead for DBS to begin
negotiations with Duxton Investments Pte Ltd, a unit of Temasek, for an
effective 14.2% equity in Alliance Financial Group Bhd (AFG). However, it is
left to be seen if DBS will get the necessary approvals to do all this, especially
in light of Singapore’s recent decision to award the QFB licences to two Chinese
banks while a Malaysian bank has been waiting for the same. - StarBiz
Source: AmeSecurities
No comments:
Post a Comment