News by Jose Barrock

There appears to be some misunderstanding between the Sarawak government and Putrajaya over the funding for the 1,089km Sarawak portion of the Pan Borneo Highway project. While Sarawak expects the RM16 billion to build the highway to come from an allocation over and above the normal infrastructure expenditure, Putrajaya, it seems, has been under the impression that the cost of building the highway would come from the regular allocation.

Bina Puri Holdings Bhd, in partnership with Prasarana Malaysia Bhd (formerly known as Syarikat Prasarana Negara Bhd), is likely to win the RM1 billion contract to build the bus rapid transit (BRT) system in Kota Kinabalu, sources say.

The controlling shareholders of property developer Magna Prima Bhd are understood to be looking to hive off a large stake of about 30% in the company, sources say.

The KL-Singapore HSR will change how we live, work and do business as the barriers to travel and trade fall and the effects of bringing the two cities closer together set in, says MyHSR Corp Sdn Bhd CEO Mohd Nur Ismal Mohamed Kamal

‘Any estimate out there is purely speculation’

Company has a market capitalisation of more than RM2.63 bil, and a strong parent in Khazanah.

A group of European rail companies — including Siemens AG (Germany), Alstom SA (France) and Spain’s Talgo SA and Construcciones y Auxiliar de Ferrocarriles SA (CAF) — is understood to have made overtures and preparing to put in a bid, industry sources tell The Edge.

“We are envisioning to start with two services — one that will go directly to Singapore, and another that will stop with transit services in Bandar Malaysia, Seremban, Melaka, Muar, Batu Pahat and Nusajaya, and then [across the causeway to] Singapore ..."

At the present time, Datuk Tee Eng Ho’s only listed company is Fututec Bhd, whose name will be changed to Kerjaya Prospek Group Bhd and which will be the construction arm of the group.

Judging by the size and the modus operandi of both outfits, it would not be surprising if they both decide to take up a substantial stake via MRCB’s proposed private placement exercise.