News about construction

KUALA LUMPUR (April 12): Malaysia Rail Link Sdn Bhd (MRL) and China Communications Construction Co Ltd (CCCC) have signed a supplementary agreement pursuant to the East Coast Rail Link (ECRL) project, which will proceed at a lower cost of RM44 billion compared with its original cost of RM65.

  KUALA LUMPUR (April 5): Vizione Holdings Bhd, whose subsidiary was mentioned in a cheating case linked to a graft probe on the Penang undersea tunnel, clarified yesterday that the RM15 million reportedly paid out from its subsidiary's account was actually a security deposit it paid for a certain work package under the Penang Mega Infrastructure (PMI) project.

  KUALA LUMPUR (April 2): Sunway Construction Group Bhd’s (SunCon) indirect unit Sunway Builders (Myanmar) Co Ltd (SBM) has inked a memorandum of understanding (MoU) with a Myanmar company Capital Construction Ltd (CCL) to jointly bid for major infrastructure and construction projects in Myanmar, marking SunCon’s first foray into the Southeast Asian country.

KUALA LUMPUR (March 29): BBCC Development Sdn Bhd, the project owner of the multi-billion-ringgit Bukit Bintang City Centre (BBCC), today disputed a claim of late payment made by Zelan Bhd's subsidiary, which involves a principal sum of RM3.

  KUALA LUMPUR (March 29): Zelan Bhd’s wholly-owned unit Zelan Construction Sdn Bhd is claiming for a principal amount of RM3.

KUALA LUMPUR (March 29): Gamuda Bhd has bagged a contract worth NT$3.

KUALA LUMPUR (March 26): Permaju Industries has teamed up with OCR Group Bhd to develop a residential and commercial project with an estimated gross development value (GDV) of RM1 billion in Kota Kinabalu.

KUALA LUMPUR (March 21): Sunway Construction Group Bhd announced yesterday that it has, via its subsidiaries, bagged two piling works contracts worth a combined value of RM86.

Construction sector Maintain underweight: The Star daily on Sunday quoted Penang Chief Minister Chow Kon Yeow that since the RM1 billion bridging loan from the federal government for the Penang Transport Master Plan (PTMP) was not forthcoming, the project delivery partner (PDP), SRS Consortium, would now have to source for the funds.

KUALA LUMPUR (March 18): While sentiment on the construction sector is seen to have somewhat recovered, construction stocks are seen to be running ahead of its fundamentals, according to MIDF Amanah Investment Bank Bhd Research.