Latest news with #RM4.3bil
The Star
5 days ago
- Automotive
- The Star
Gamuda JV brings wireless trams to Taiwan
The Urbos trams will enable catenary-free operations in New Taipei City by 2032. PETALING JAYA: Gamuda Bhd has inked an agreement to procure up to 23 wireless trams for Taiwan's New Taipei City in a deal potentially worth nearly RM1bil. Manufactured by Spain's Construcciones y Auxiliar de Ferrocarriles (CAF), the Urbos fleet will be deployed to the city's Xidong and Keelung lines and will be among the rare few in the world to offer fully catenary-free modern tram operations. In Taiwan, this will be the second catenary-free tram, following the first, also supplied by CAF, which debuted in Kaohsiung in 2015. Catenary-free trams do away with the unsightly overhead power lines that are typically seen in tram systems elsewhere. These modern trams have a capacitor (which functions like a rechargeable battery) that allows quick electricity top-ups every time the tram stops to pick up or drop passengers, thus doing away with the obstruction and visual clutter from overhead catenary lines that power trams and electric buses in other cities. While there are other attempts elsewhere to go catenary-free, these involve embedding the power lines into the ground, such as the Dubai Tram, or partial catenary-free attempts that still need batteries with longer recharging times. With the Urbos trams to be operated by the city's Rapid Transit Systems Department, the Xidong line (an elevated 5.6km line from Xizhi to Donghu) project also includes the provision of spare parts, depot equipment, and a driver training simulator, said a post on CAF's website last week. According to CAF, which signed a framework agreement with Gamuda recently for the supply of the trams, 'if all options within the agreement are exercised, the contract's total value could approach €200mil (RM998mil)'. Gamuda currently leads the project delivery team for the Xidong line through a joint venture with Taiwanese partners MiTAC Information Technology Corp (15%) and Dong Pi (10%), with the main works expected to be completed by 2032. Last October, Gamuda announced that New Taipei City had awarded the consortium the design-and-build contract for the Xidong line worth RM4.3bil, covering the construction of six stations and a tram depot. The technical partnership between Gamuda and CAF for the tram system procurement has been described as one which instills confidence when it comes to delivering mobility infrastructure. 'This award highlights the technological and industrial capabilities of CAF and the Malaysian construction group, demonstrating their ability to undertake highly demanding transport projects and consolidating their track record. 'It also reinforces the trust placed in them by the Taiwanese authorities based on their proven experience and proficiency in execution,' added CAF. With a population approaching four million, New Taipei City is the largest municipality in Taiwan and the tram procurement is part of a broader infrastructure investment drive to address growing demand for rail-based transport. Each Urbos tram for the Xidong and Keelung lines will be capable of accommodating up to 615 passengers, apart from being fully barrier-free to enable universal access. Elsewhere, Gamuda's involvement in Australian rail infrastructure in New South Wales saw good progress, with major milestones achieved in the first quarter of this year. Two tunnel boring machines constructing the Sydney Metro West tunnels have broken into the Clyde Metro junction caverns, meaning that tunnelling progress for the 24km twin metro railway tunnels is way past the 80% mark.
The Star
13-06-2025
- Business
- The Star
Binastra's order book continues to strengthen
PETALING JAYA: A recent contract win by construction group Binastra Corp Bhd could contribute about RM16.1mil in net profit over the building period for the project, analysts say. This is based on an assumption of a net margin of 6%, said TA Research and Phillip Capital Research. The group secured a RM268mil contract from TNJ Development Sdn Bhd, a subsidiary of CPI Land, for the main building work for the Tuan Heritag3 Residency condominium development in Segambut, Kuala Lumpur, with a gross development value (GDV) of RM670mil. However, Phillip Capital Research said this is lower than the historical average of between 9% and 10%, reflecting a greater reliance on subcontracting as Binastra preserves internal capacity for its expanding pipeline of projects in Johor. The research house remained positive about the prospects for the group's order book replenishment, supported by up toRM7bil of committed project launches from major clients in Johor, scheduled from 2026 to 2027. The research house said it was encouraged by this latest contract win, which not only strengthened the group's order book but also brings in a new client that intends to launch projects with GDVs of RM1bil in this year and exploring expansion opportunities into Johor. The research house believes this could pave the way for future project wins. The award brings year-to-date job wins to RM976.9mil, representing 28% of its RM3.5bil order book replenishment assumption for 2026. This raises Binastra's order book to RM4.3bil, implying a 4.5 times cover of its revenue for this year. TA Research said it believes the group is well-positioned to secure additional contracts from CPI Land's RM1bil GDV pipeline. RHB Research said the group's order book is worth RM4.3bil and provides earnings visibility for the next four years. The research house said it believes Binastra's likely job wins will come from the southern region. For instance, one of Binastra's clients, Exsim Development Sdn Bhd, has a few other land parcels in Johor Baru near the New York Hotel and along Jalan Lumba Kuda, and projects there could have a cumulative GDV of over RM3bil or a potential construction value that may exceed RM1.5bil. Maxim Global Bhd , another key client, has acquired a 6.5 acre plot of land in Taman Pelangi for future development. TA Research, Phillip Capital Research and RHB Research maintained their 'buy' calls on the stock with target prices of RM2.39, RM2.30 and RM2.21, respectively. Both Phillip Cpital Research and RHB Research made no changes to their earnings estimates with the latest job win.
The Star
28-05-2025
- Business
- The Star
Guan Chong optimistic on growth despite cocoa price uncertainties
KUALA LUMPUR: Guan Chong Bhd said the outlook for cocoa prices remains uncertain despite a slight decrease since early 2025. The group, one of the world's biggest cocoa processors, noted that prices continue to reflect market sensitivity to supply disruptions. 'While a slight reduction in demand is anticipated, the overall outlook remains uncertain, with potential for both stabilisation and continued volatility depending on future developments in production and global economic conditions,' it said. In the first quarter ended March 31, Guan Chong posted a slightly lower net profit of RM99.2mil, or earnings per share of 8.05 sen from RM101.3mil, or 7.83 sen a year ago. Revenue surged to RM4.3bil against RM1.87bil in the year-ago quarter. The increase of 130.2% in turnover is mainly due to a higher selling price for cocoa products. Guan Chong is closely monitoring market developments and taking proactive steps to secure a stable supply of cocoa beans to maintain uninterrupted factory operations. 'At the same time, the group is carefully managing its working capital to ensure adequate liquidity for efficient and seamless business performance. 'Looking ahead, the group will continue to focus on its core business of cocoa ingredient processing while also expanding into the higher-margin industrial chocolate market and optimising production in accordance with market conditions,' it said.
The Star
28-05-2025
- Business
- The Star
S'wak expecting RM14.2bil in revenue this year, state assembly told
KUCHING: Sarawak's revenue is projected to reach RM14.2bil this year, slightly surpassing the RM14.187bil collected last year, says Deputy Premier Datuk Amar Douglas Uggah Embas. He said RM4.3bil or 30% of the projected revenue had been collected as of April, with state sales tax contributing the highest amount at RM1.76bil. Other major sources of revenue included cash compensation in lieu of oil and gas rights (RM1.76bil), dividends (RM600mil), raw water royalty (RM229mil), interest income (RM250mil), forestry receipts (RM65mil), land premium (RM59mil) and federal grants and reimbursement (RM25mil). "Considering the challenging economic environment and geopolitical issues that are influencing the oil and gas markets globally, we foresee that our revenue projection for this year would be impacted," Uggah told the Sarawak Legislative Assembly in his winding-up speech on Wednesday (May 28). He also said the state had spent RM3.68bil or 27% of the approved ordinary expenditure as of April, while RM1.44bil or 13% had been spent on development expenditure. The expenditures are anticipated to increase in the later half of the year, coinciding with the progress of project execution, he added. "Given that this year marks the end of the 12th Malaysia Plan, it is imperative for all controlling officers and heads of departments to continue to be committed towards the successful delivery of programmes and projects which they are accountable and responsible for. "They must also be proactive in resolving any issues related to project implementation," he said.
The Star
14-05-2025
- Business
- The Star
Auditor flags going concern for Sapura Energy
KUALA LUMPUR: Sapura Energy Bhd 's external auditors Messrs. Ernst & Young PLT (EY) issued an unqualified audit opinion with a material uncertainty related to going concern in the independent auditors' report for the financial year ended Jan 31, 2025. In a filing with Bursa Malaysia, Sapura Energy said its auditor highlighted that the group's current liabilities exceeded its current assets by RM11.2bil and RM4.3bil respectively, and noted that the group is facing severe liquidity constraints. Nevertheless, EY said the financial statements of the group and of the company have been prepared on a going concern basis, the validity of which is highly dependent on the timely approvals, execution and completion of the proposed regularisation plan on or before the long stop date on March 11, 2026, which is necessary for the schemes of arrangement (SOA), the conditional funding agreement and the commercial settlements related to terminated engineering & construction (E&C) projects to take effect within the stipulated timeframe. In a separate statement, Sapura Energy said previously, in financial years 2022, 2023 and 2024, the external auditors also flagged material uncertainty related to going concern in the group and the company's financial statements. The material uncertainty included, amongst others, extensions of restraining orders, achieving favourable outcomes of the legal claims for terminated E&C projects and the successful and timely implementation of the proposed SOA with at least 75% approval from relevant scheme creditors in the court convened meetings. 'Over the years, Sapura Energy has been able to achieve these critical milestones, enabling the group to proceed with the finalisation of its proposed regularisation plan, with a target to submit to Bursa Malaysia in May 2025,' it said. Sapura Energy is currently preparing the circular in relation to the proposed regularisation plan for submission to Bursa in May 2025 and anticipates that the restructuring effective date will be achieved by August 2025 or latest by the longstop date.
