Latest news with #RailLink
The Star
2 days ago
- Business
- The Star
Trading ideas: MSM, Malakoff, BFood, BCorp, Bank Islam, Oriental Kopi, Petron, Deleum, Advancecon, CTOS, Felixdynamic, Binastra, Astro, Cuckoo
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. MSM Malaysia Holdings Bhd expects the 5% sales and service tax on raw sugar to pressure input costs, which could in turn push up prices of refined sugar for industrial buyers. The country's second waste-to-energy plant, costing RM660mn, will be built in Sungai Udang, Melaka through a partnership between the Ministry of Housing and Local Government and a consortium comprising Malakoff Corporation Bhd and Alam Flora Environmental Solutions Sdn Bhd. Berjaya Food Bhd 's wholly-owned subsidiary, Berjaya Food (International) Sdn Bhd (BFI), has disposed of 6.6mn ordinary shares, representing a 0.6% equity interest in 7-Eleven Malaysia Holdings Bhd , to Berjaya Corp Bhd for RM13.2mn cash, or RM2 per share. On a separate note, BCorp's wholly-owned subsidiary, Inter-Pacific Credits Sdn Bhd, has acquired 42.5mn ordinary shares, representing about a 1.7% equity interest in Berjaya Assets Bhd for RM12.8mn in cash, or 30 sen per share. Bank Islam Malaysia Bhd has secured a summary judgement against financially distressed Ivory Properties Group Bhd over unpaid loans totalling RM17.8mn. Oriental Kopi Holdings Bhd is proposing to acquire a parcel of leasehold land measuring 5,260.8 sq metres in Kuala Langat, Selangor, from Icon Facade Sdn Bhd for RM23mn. Petron Malaysia Refining & Marketing Bhd said it has been sued by its former transportation services provider over alleged negligent misrepresentation that involved RM174mn in damages and restitution. Deleum Bhd has accepted a letter of award from Hess Exploration and Production Malaysia B.V. for the provision of solar gas turbine generators maintenance services and materials supply for the North Malay Basin. Advancecon Holdings Bhd said the group has issued a notice of adjudication to China Communications Construction (ECRL) Sdn Bhd over a RM15.2mn payment dispute relating to the East Coast Rail Link project. CTOS Digital Bhd has entered into a strategic partnership with Infomina Bhd , one of only four authorised service providers for Suruhanjaya Syarikat Malaysia data, to gain access to real-time corporate data. Flexidynamic Holdings Bhd has entered into two share sale agreements — one with HARPS Investment Asia Pte Ltd and another with two minority shareholders — to acquire a 100% equity interest in Nilai-based glove former manufacturer Formtech Engineering (M) Sdn Bhd. Binastra Corporation Bhd's net profit jumped by 38.9% YoY to RM25.1mn the 1QFY26, driven by strong contributions from the group's core construction segment. Astro Malaysia Holdings Bhd said it will continue to invest in expanding its content offerings in lower subscription tiers and lowering entry pricing for Astro and its over-the-top platform sooka to grow its customer base, as it reported a 20.8% drop to RM13.5mn in its 1QFY26 earnings. Cuckoo International (MAL) Bhd, which is set to be listed on the Main Market of Bursa Malaysia on June 24, said its net profit for the 1QFY25 came in at RM27.9mn.
Scoop
13-06-2025
- Scoop
Matariki Weekend Rail Closure – Getting One Step Closer To CRL
Major rail upgrades to bring more frequent and reliable services mean no trains will be running from Friday 20 June to Monday 23 June 2025, as essential upgrade works are carried out across the city's rail lines over the extended Matariki long weekend. This closure across the Eastern, Western, Southern, and Onehunga Lines is needed so that KiwiRail, City Rail Link Limited and AT can continue vital network upgrade works ahead of the City Rail Link opening in 2026. No trains will operate during this period, including on Monday 23 June, a standard weekday. People should also be aware there will be changes to train services during the upcoming winter school holidays. To support passengers, AT will operate frequent all-stop rail replacement bus services throughout the rail closure period. For some passengers AT's regular scheduled bus services will also be a good alternative. AT's Group Manager Rail Services Mark Lambert says closures like this are needed to get the wider Auckland rail network ready for the faster, more frequent train services that will come when the City Rail Link opens. 'We understand this closure will be disruptive—especially with Monday being a regular workday—but it is a necessary step to ensure the future reliability and efficiency of our rail network,' Mr Lambert says. 'We've timed this work over a long weekend to reduce disruption for our passengers as much as possible, and we're doing everything we can to keep people moving.' The upgrade work includes track renewals, foundation upgrades and drainage improvements as part of KiwiRail's Rail Network Rebuild programme, the installation of fibre optic cables across the rail network, and maintenance work at train stations that would be too disruptive to undertake when services were running. 'The work AT and our partners are doing now will help unlock the benefits of the City Rail Link and transform how people move around our city,' Mr Lambert says. 'We know that for many people this is likely to be frustrating. But this is a once-in-a-generation upgrade, so we're asking Aucklanders to bear with us just a little longer so we can deliver a faster, more reliable, and more frequent rail service for everyone.' KiwiRail Chief Metro and Capital Programme Officer David Gordon says: 'KiwiRail is progressing works at pace especially on the Southern Line where we still have more to do to improve foundations and drainage to ensure our network is resilient.' 'Our teams will be working night and day to get as much completed as possible during the four days.' Notes: Extended Matariki weekend rail closure The extended rail closure over Matariki weekend extends from Friday 20 June to Monday 23 June. Buses will replace trains on all lines, with all-stops rail replacement buses stopping at or near every train station. Newmarket and Remuera stations will be fully closed during this period to enable work to progress more quickly on station maintenance projects. Information for passengers about the closure and alternative transport options is being shared widely across AT's customer communication channels and at stations. The AT Journey Planner (on the AT Mobile app or AT website) is the easiest way for people to plan their journeys while train services aren't running. Partial rail closure during the winter school holidays There will be also changes to train services from 28 June to 13 July during the winter school holidays. Parts of the Southern Line will be closed for essential drainage works and reduced frequencies will be in place for the rest of the Southern Line, the Eastern Line, and the Western Line. The Onehunga Line will retain its all-day 30-minute service during this period. Rail replacement buses, including an express service will serve closed parts of the Southern Line as we do our best to keep passengers moving. The City Rail Link will bring Auckland closer together City Rail Link will double the number of Aucklanders within a 30-minute train journey to the central city and increase rail capacity by at least 50 per cent on its opening day. It will also significantly cut journey times – for example Henderson to the city centre in just 35 minutes (save 24 minutes). Another example is Maungawhau Station (formerly Mt Eden) to Waitematā (Britomart) in under 10 minutes, which is about half the current time. Trains will run more frequently - every four minutes through the central city, every five minutes from all stations north of Puhinui on the Southern and Eastern Lines, every 8 minutes on the Western Line from Henderson and every 10 from Pukekohe.
Scoop
11-06-2025
- Business
- Scoop
Saying Yes To More Housing
Press Release – New Zealand Government Minister for RMA Reform Hon Simeon Brown Minister for Auckland City-shaping changes are coming to New Zealand's largest city, ensuring that Auckland can fully harness the economic growth benefits of the new City Rail Link, RMA Reform Minister Chris Bishop and Auckland Minister Simeon Brown say. The Resource Management (Consenting and Other System Changes) Amendment Bill (the Bill) has been reported back to Parliament today by the Environment Committee, containing significant changes to enable housing growth in our largest cities. 'After many months, Auckland Council and the Government have reached agreement to free up more land for housing, particularly around City Rail Link (CRL) stations. These are some of the most significant changes to the shape of Auckland since the Auckland Unitary Plan,' Mr Bishop says. 'It doesn't make sense that we have single story houses on quarter acre sections a stone's throw away from stations that, in a year or so, will see trains every few minutes. 'The Government and the Council are investing billions in CRL and have a shared vision for stations that become hubs for public transport, mixed use development and new housing. 'Successive Governments and Councils have failed to grasp this opportunity for economic growth in New Zealand's largest city. This is how modern, growing cities all around the world operate, and now it's Auckland's turn.' 'Today's announcements are a result of Auckland Council and the Government working together to deliver a plan for more housing that works for Auckland. The Bill now has the effect of abolishing the Medium Density Residential Standards (MDRS) in Auckland while requiring more housing density around key public transport corridors – a common sense solution for Auckland,' Auckland Minister Simeon Brown says. 'Auckland must grow to fully meet its potential as a world-leading city. The one sized-fits-all approach of the MDRS was not appropriate for Auckland. Today's announcement will ensure our city grows where it makes the most sense and maximise on the significant investment made in the City Rail Link.' 'I want to thank Auckland Council, particularly Mayor Brown and Councillor Richard Hills, for their pragmatic approach to solving these complex challenges over many months,' Mr Bishop says. 'Mayor Brown has previously described this situation as 'RMA gymnastics' and he is right, but I am confident that these arrangements align with our shared vison of density and development in places that work for Aucklanders.' Removing ability to opt-out of the MDRS 'The Bill as introduced provided councils with the flexibility to opt out of the MDRS, if they could show they had provided for 30 years of housing growth in their district and unitary plans,' Mr Bishop says. 'Councils have been going through plan changes for years in order to incorporate the MDRS. Most councils have already substantially completed their plan changes through this process, with just three (Auckland, Christchurch and Waimakariri) yet to finish. 'The practical reality is that if councils did vote to 'opt out' of the MDRS, they would have to pass a new plan change to do so, and due to the length of time this typically takes under the RMA, by the time this was complete, the Government's new planning system is expected to be in place. 'Fundamentally, it would have achieved nothing, but cost ratepayers a lot. 'The Government has therefore taken the pragmatic view that it would be sensible to remove the ability for councils to opt out of the MDRS and to work on bespoke legislative solutions for Auckland and Christchurch instead.' New plan change for Auckland 'Auckland's intensification plan change, PC78, has been underway since 2022. Progress has been slow for many reasons, including the Auckland floods. The intensification plan change process does not allow Auckland to 'downzone' certain areas due to natural hazard risk – only to 'upzone' them – and the Council wrote to the government asking them to fix this problem,' Mr Bishop says. 'The Government has therefore agreed to change the Bill to allow Auckland to withdraw PC78. However, the government is determined to unlock housing capacity in Auckland and fix our housing crisis and has taken steps to ensure this is achieved. 'Earlier in the year I directed Auckland Council to bring forward decisions on the parts of PC78 that relate to the city centre, requiring final decisions to be made by the end of May. Auckland Council met this requirement, finalising this part of PC78 on 22 May 2025. 'These decisions made by the council are a step forward in increasing development capacity in Auckland's CBD, but there is more work to be done. 'The Bill as reported back from the committee now allows Auckland Council to remove the remaining parts of PC78, but requires them to process a new plan change urgently. This plan change must be notified by 10 October this year, and must enable housing capacity equal to or greater than that enabled by PC78. 'As I've indicated, the Government is keen to see greater density around public transport, particularly City Rail Link stations. The Bill therefore now also requires Auckland to allow for greater density around the key CRL stations of Maungawhau (Mount Eden), Kingsland, and Morningside. 'Auckland Council must enable within a walkable distance from these stations heights and densities reflective of the higher demand for housing and business in these areas. This requirement goes further than the existing requirements under the NPS-UD, and I expect heights and densities that ensure we make the most of the opportunities offered by this transformational transport project. 'The government is also considering whether further amendments to the Bill to fully maximise development opportunities around other CRL stations as necessary, and I will have more to say in due course.' 30 years of growth for Christchurch 'Christchurch City Council also requires a bespoke solution, as they have made a number of decisions on their plan change to implement the MDRS and NPS-UD, known as PC14, but have yet to complete it,' Mr Bishop says. 'Last week I released my decisions on the recommendations from the Council on parts of PC14. These decisions will enable a greater level of development in and around Christchurch City's urban centres. 'Christchurch City Council is currently required to finalise the MDRS components of PC14 by December 2025. The Bill will allow Christchurch to withdraw the MDRS parts of PC14 provided they allow for 30 years of housing growth at the same time. Assessment of that target will be made by me based on advice from officials.' Additional changes 'In addition to these changes, the Environment Select Committee has recommended a suite of changes to improve the workability of the Bill and help unlock growth in infrastructure and energy, farming and the primary sector,' Mr Bishop says. The Resource Management (Consenting and Other System Changes) Amendment Bill will have its second reading in the coming weeks and is expected to pass into law in mid-2025.'
Scoop
11-06-2025
- Business
- Scoop
Saying Yes To More Housing
Press Release – New Zealand Government Todays announcements are a result of Auckland Council and the Government working together to deliver a plan for more housing that works for Auckland. Minister for RMA Reform Hon Simeon Brown Minister for Auckland City-shaping changes are coming to New Zealand's largest city, ensuring that Auckland can fully harness the economic growth benefits of the new City Rail Link, RMA Reform Minister Chris Bishop and Auckland Minister Simeon Brown say. The Resource Management (Consenting and Other System Changes) Amendment Bill (the Bill) has been reported back to Parliament today by the Environment Committee, containing significant changes to enable housing growth in our largest cities. 'After many months, Auckland Council and the Government have reached agreement to free up more land for housing, particularly around City Rail Link (CRL) stations. These are some of the most significant changes to the shape of Auckland since the Auckland Unitary Plan,' Mr Bishop says. 'It doesn't make sense that we have single story houses on quarter acre sections a stone's throw away from stations that, in a year or so, will see trains every few minutes. 'The Government and the Council are investing billions in CRL and have a shared vision for stations that become hubs for public transport, mixed use development and new housing. 'Successive Governments and Councils have failed to grasp this opportunity for economic growth in New Zealand's largest city. This is how modern, growing cities all around the world operate, and now it's Auckland's turn.' 'Today's announcements are a result of Auckland Council and the Government working together to deliver a plan for more housing that works for Auckland. The Bill now has the effect of abolishing the Medium Density Residential Standards (MDRS) in Auckland while requiring more housing density around key public transport corridors – a common sense solution for Auckland,' Auckland Minister Simeon Brown says. 'Auckland must grow to fully meet its potential as a world-leading city. The one sized-fits-all approach of the MDRS was not appropriate for Auckland. Today's announcement will ensure our city grows where it makes the most sense and maximise on the significant investment made in the City Rail Link.' 'I want to thank Auckland Council, particularly Mayor Brown and Councillor Richard Hills, for their pragmatic approach to solving these complex challenges over many months,' Mr Bishop says. 'Mayor Brown has previously described this situation as 'RMA gymnastics' and he is right, but I am confident that these arrangements align with our shared vison of density and development in places that work for Aucklanders.' Removing ability to opt-out of the MDRS 'The Bill as introduced provided councils with the flexibility to opt out of the MDRS, if they could show they had provided for 30 years of housing growth in their district and unitary plans,' Mr Bishop says. 'Councils have been going through plan changes for years in order to incorporate the MDRS. Most councils have already substantially completed their plan changes through this process, with just three (Auckland, Christchurch and Waimakariri) yet to finish. 'The practical reality is that if councils did vote to 'opt out' of the MDRS, they would have to pass a new plan change to do so, and due to the length of time this typically takes under the RMA, by the time this was complete, the Government's new planning system is expected to be in place. 'Fundamentally, it would have achieved nothing, but cost ratepayers a lot. 'The Government has therefore taken the pragmatic view that it would be sensible to remove the ability for councils to opt out of the MDRS and to work on bespoke legislative solutions for Auckland and Christchurch instead.' New plan change for Auckland 'Auckland's intensification plan change, PC78, has been underway since 2022. Progress has been slow for many reasons, including the Auckland floods. The intensification plan change process does not allow Auckland to 'downzone' certain areas due to natural hazard risk – only to 'upzone' them – and the Council wrote to the government asking them to fix this problem,' Mr Bishop says. 'The Government has therefore agreed to change the Bill to allow Auckland to withdraw PC78. However, the government is determined to unlock housing capacity in Auckland and fix our housing crisis and has taken steps to ensure this is achieved. 'Earlier in the year I directed Auckland Council to bring forward decisions on the parts of PC78 that relate to the city centre, requiring final decisions to be made by the end of May. Auckland Council met this requirement, finalising this part of PC78 on 22 May 2025. 'These decisions made by the council are a step forward in increasing development capacity in Auckland's CBD, but there is more work to be done. 'The Bill as reported back from the committee now allows Auckland Council to remove the remaining parts of PC78, but requires them to process a new plan change urgently. This plan change must be notified by 10 October this year, and must enable housing capacity equal to or greater than that enabled by PC78. 'As I've indicated, the Government is keen to see greater density around public transport, particularly City Rail Link stations. The Bill therefore now also requires Auckland to allow for greater density around the key CRL stations of Maungawhau (Mount Eden), Kingsland, and Morningside. 'Auckland Council must enable within a walkable distance from these stations heights and densities reflective of the higher demand for housing and business in these areas. This requirement goes further than the existing requirements under the NPS-UD, and I expect heights and densities that ensure we make the most of the opportunities offered by this transformational transport project. 'The government is also considering whether further amendments to the Bill to fully maximise development opportunities around other CRL stations as necessary, and I will have more to say in due course.' 30 years of growth for Christchurch 'Christchurch City Council also requires a bespoke solution, as they have made a number of decisions on their plan change to implement the MDRS and NPS-UD, known as PC14, but have yet to complete it,' Mr Bishop says. 'Last week I released my decisions on the recommendations from the Council on parts of PC14. These decisions will enable a greater level of development in and around Christchurch City's urban centres. 'Christchurch City Council is currently required to finalise the MDRS components of PC14 by December 2025. The Bill will allow Christchurch to withdraw the MDRS parts of PC14 provided they allow for 30 years of housing growth at the same time. Assessment of that target will be made by me based on advice from officials.' Additional changes 'In addition to these changes, the Environment Select Committee has recommended a suite of changes to improve the workability of the Bill and help unlock growth in infrastructure and energy, farming and the primary sector,' Mr Bishop says. The Resource Management (Consenting and Other System Changes) Amendment Bill will have its second reading in the coming weeks and is expected to pass into law in mid-2025.'
Time of India
06-06-2025
- Politics
- Time of India
Nur Khan Now An American Base? Pak Nuclear Expert Makes Stunning Claims After India Bombed Pak Base
'You Did What Britishers Couldn't': Omar Abdullah Lauds PM Modi For J&K Rail Link Project After the inauguration of the Chenab Rail Bridge, Jammu and Kashmir Chief Minister Omar Abdullah praised Prime Minister Narendra Modi for completing what he said 'the British could not do.' Referring to the long-awaited railway connectivity, Abdullah remarked, 'Many people dreamt of this train service... Kashmir Valley has now been connected with the rest of the country.' The bridge, part of the Udhampur–Srinagar–Baramulla Rail Link (USBRL) project, stands 359 metres high and spans 1,315 metres. Abdullah also acknowledged the efforts of past leaders and highlighted the political significance of the moment, expressing hope for Jammu and Kashmir's return to full statehood.#omarabdullah #narendramodi #modi #chenabbridge #jammukashmir #kashmirconnectivity #usbrl #worldshighestrailwaybridge #indiainfrastructure #railwaybridge #fullstatehood #engineeringmarvel #indiarailways #jkdevelopment #modigovt #kashmirvalley #nationalconnectivity #britishcouldntdo #historicmoment #infrastructuredevelopment #kashmir #toi #toibharat 1.7K views | 4 hours ago
