Construction sector Maintain underweight: According to The Edge Markets, East Coast Rail Link (ECRL) project owner Malaysia Rail Link Sdn Bhd (MRL) has ordered its main contractor, China Communications Construction Co Ltd (CCCC), to immediately suspend all ongoing works relating to the engineering, procurement, construction and commissioning scope of the ECRL.
KUALA LUMPUR (July 5): The East Coast Rail Link (ECRL) project and two projects under the finance ministry (MoF) unit Suria Strategic Energy Resources Sdn Bhd (SSER), namely the Multi-Product Pipeline (MPP) and the Trans-Sabah Gas Pipeline (TSGP) projects, have been instructed to suspend all works with immediate effect.
PETALING JAYA (July 4): China Communications Construction Company (CCCC) has “no choice” but to follow the suspension order issued by Malaysia Rail Link Sdn Bhd over the controversial East Coast Rail Link (ECRL) project, it said in a statement today.
KUALA LUMPUR (July 4): The East Coast Rail Link (ECRL) project owner Malaysia Rail Link Sdn Bhd (MRL) has instructed its main contractor China Communications Construction Ltd (CCCC) to suspend all works under the engineering, procurement, construction and commissioning contract (EPCC) of the controversial ERCL project with immediate effect.
KUALA LUMPUR (July 3): The final cost of the East Coast Rail Link (ECRL) project is actually RM81 billion and must be reduced significantly to make it viable financially, according to Minister of Finance Lim Guan Eng.
PETALING JAYA (June 30): Malaysia Rail Link Sdn Bhd (MRL), the owner of the East Coast Rail Link (ECRL) project, would not have signed the papers for the project out of its own volition, sources told The Star.
KUALA LUMPUR (June 29): KAJ Development Sdn Bhd, the master developer for the RM30 billion Melaka Gateway project, says the project has already attracted billions of ringgit in foreign direct investment (FDI) so far.
HONG KONG (June 29): The main contractor for the East Coast Rail Link (ECRL) project, China Communications Construction Co Ltd (CCCC) has likened concerns over the Malaysian project to that of Sri Lanka’s troubled Hambantota port.
HONG KONG (June 28): The main contractor for the East Coast Rail Link (ECRL) project, China Communications Construction Co Ltd (CCCC), is "not very concerned" about risks related to the poject's review announced by the new Malaysian government.
KUALA LUMPUR (June 26): T7 Global Bhd’s share price surged by as much as 34.
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