News about transport

Construction sector Maintain overweight: According to a news report, Transport Minister Datuk Seri Liow Tiong Lai has cited a change in alignment, a longer tunnel link and a weak ringgit as the reasons for the cost of the East Coast Rail Link (ECRL) project jumping to RM55 billion from RM29 billion.

KUALA LUMPUR (Aug 25): Boustead Holdings Bhd saw its second-quarter net profit jump more than 77 times to RM225.

KUALA LUMPUR (Aug 4): SRS Consortium Sdn Bhd, a 60:20:20 joint venture among Gamuda Bhd, Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd, has duly accepted an extension of a letter of award (LoA) by the Penang state government to Feb 28, 2017 for its appointment as the project delivery partner (PDP) for the implementation of the Penang Transport Master Plan (PTMP).

KUALA LUMPUR (July 27): Escalating housing prices and the changing needs of young buyers have spurred interest in shoebox-sized apartments on Penang island, said Henry Butcher Malaysia (Penang) Sdn Bhd director Jason Teoh.

GEORGE TOWN (July 22): The Gamuda Bhd-led SRS Consortium confirmed that the initial cost of RM27 billion for the Penang Transport Master Plan (PTMP) has ballooned to an estimated RM46 billion, after additional components were added by Seberang Perai Municipal Council (MPSP).

THE Penang housing market moved sideways on both the primary and secondary markets in the first quarter of the year, says Michael Geh (pictured), director at Raine & Horne International Zaki + Partners.

GEORGE TOWN (April 6): The Federal Government is willing to provide input on the RM27 billion Penang Transport Master Plan (PTMP), according to Works Minister Datuk Seri Fadillah Yusof (pictured).

THE Penang housing market will see houses on the secondary market and in new projects priced below RM450,000 hogging the limelight in the coming months, says Raine & Horne International Zaki + Partners director Michael Geh (pictured, below).

GEORGE TOWN (Feb 18): Remedial measures must be taken to ease traffic congestion before other stages of the RM27 billion Penang Transport Master Plan can begin, according to chief minister Lim Guan Eng (pictured).

GEORGE TOWN (Feb 3): The Penang government will be publicly disclosing its land reclamation agreements in Bayan Mutiara and Pantai Jerejak which were inked by the present administration.