News about Ministry of Finance

PETALING JAYA (July 19): The government’s call for tender proposals for the development of Bandar Malaysia in Kuala Lumpur have attracted no suitors so far, said Ministry of Finance (MoF) special officer Tony Pua.

PETALING JAYA (July 18): Two companies that had dealings with the East Coast Rail Line (ECRL), Multi-Product Pipeline (MPP) and Trans-Sabah Gas Pipeline (TSGP) were raided by the Malaysian Anti-Corruption Commission (MACC) this morning, sources told The Malaysian Insight.

KUALA LUMPUR (July 13): CIMB IB Research has maintained its “Underweight” rating on the construction sector after the Ministry of Finance (MOF) allowed the LRT 3 project to proceed but at a lower all-in cost of RM16.

KUALA LUMPUR (July 13): CIMB IB Research has maintained its “Underweight” rating on the construction sector after the Ministry of Finance (MOF) allowed the LRT 3 project to proceed but at a lower all-in cost of RM16.

KUALA LUMPUR (July 13): Shares in George Kent (Malaysia) Bhd and Malaysian Resources Corp Bhd (MRCB) rallied yesterday after Finance Minister Lim Guan Eng announced that the cabinet had approved the continuation of the light rail transit Line 3 (LRT3) project at a final cost of RM16.

KUALA LUMPUR (July 11): Prasarana Malaysia Bhd said today it will work closely with the Ministry of Finance and both its Project Delivery Partners to bring down the total cost of the light rail transit line (LRT3) project.

KUALA LUMPUR (July 10): The Ministry of Finance will not provide additional funding for the Light Rait Transit 3 (LRT3) project unless cost “is significantly rationalised without compromising on the integrity of the rail network as well as the safety and the quality of service provided,” finance minister Lim Guan Eng (pictured) said in a press release today.

KUALA LUMPUR (July 9): Malaysia Rail Link Sdn Bhd (MRL), the project owner of the RM81 billion East Coast Rail Link, has dismissed today news reports that suggest construction work is continuing on the ECRL despite a suspension order having been issued.

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.