While Malaysians are being distracted by the Anwar trial and by those trying to divide us on the basis of ethnicity and religion, big contracts are being dished out, including the last portion of the double-tracking project. Continue reading »
Gamuda-MMC has received an early ‘durian runtuh’ with the government reportedly granting preliminary approval for the consortium to manage a RM36 billion mass rapid transit (MRT) project for the Klang Valley.
See a report by Reuters here.
Because of the large amount of public money at stake, the government must tell us exactly how the tender process for the consortium’s reportedly ‘unsolicited proposal’ was carried out. Is it true that there was only one contractor with whom the government negotiated? That in itself is disturbing.
The actual project is expected to cost RM36 billion. Add land acquisition and rolling stock cost and the tab reportedly could come up to a jaw-dropping RM43 billion. (What about possible cost overruns?) That makes it the largest construction job under the Tenth Malaysia Plan.
Examine carefully the major shareholders of Gamuda Bhd as at 15 October 2009: Continue reading »
For what is expected to be the biggest mega project of them all, the RM43 billion Mass Rapid Transit proposal has received little prominent media publicity and most Malaysians remain in the dark about it.
The ‘unsolicited proposal’ for a 180-200km partly underground railway network in Kuala Lumpur by Gamuda Bhd and MMC Corp is now undergoing feasibility studies by two government-appointed consultants, according to a report in The Star.
The actual project is expected to cost RM36 billion. Add land acquisition and rolling stock cost and the tab reportedly could come up to a jaw-dropping RM43 billion. (What about possible cost overruns?) That makes it the largest construction job under the Tenth Malaysia Plan. Continue reading »
The Selangor government is attempting to take over the water assets from the concessionaires in the state, namely Puncak Niaga, Splash, and Syabas. The state government wants to nationalise the inefficient water sector – and prevent a 30 per cent tariff hike from April.
The concessionaires, on the other hand, are asking for a much higher price, based on discounted cash flow (of future profits) and future tariff hikes assuming the concession is allowed to continue.