Latest news with #SRL
The Star
12-06-2025
- Business
- The Star
Gamuda on track to achieve order book aim
Gamuda's current order book is estimated at RM37bil. PETALING JAYA: Gamuda Bhd 's failure to land the Suburban Rail Loop (SRL) project in Australia will not diminish its plan to have an order book of RM40bil to RM45bil by the end of its financial year ending July 31, 2025 (FY25), says CGS International (CGSI) Research. The construction and engineering giant has a tender book of RM24bil, including bids for five data centre buildings contracts, according to the research house. Gamuda's current order book is estimated at RM37bil. 'While it did not win the SRL Linewide project, of Gamuda's portion is estimated at RM10bil, we believe the company could win other projects that could replace it. 'At its March analyst briefing, Gamuda highlighted a pipeline of RM35bil jobs where SRL was one of them. 'So far it has won one project from this list, the RM1bil data centre enabling works for Pearl Computing,' the research house stated in a report following a meeting with its management. Some of the projects on bid is the Sabah water treatment plant (RM4bil worth of works), additional works for the Penang light rail transit or LRT project estmated at RM3bil, mass rail transit job in Taiwan (RM3bil), station works in Sydney/Melbourne (RM6bil) and early contractor involvement for renewable energy in Australia worth some RM2bil. Gamuda is due to file its third quarter (3Q25) results on June 26, and CGSI Research expects an improvement in net profit year-on-year (y-o-y) and sequentially, with a meaningful pick-up to come in FY26 when its local construction projects and Vietnam property project gradually move away from the shallow part of the S-curve recognition. CGSI Research said Gamuda is, however, unlikely to meet its RM6bil property pre-sales target for FY25 as approvals for its Hanoi project (Gamuda City) have been slow. 'As Gamuda has pencilled in RM840mil pre-sales for this project for FY25, we believe FY25 group pre-sales will likely come in flat year-on-year (y-o-y) at RM5bil. 'Another concern for investors regarding its exposure to the Vietnam property market, where it has eight projects with a gross development value (GDV) of RM18bil (29% of total GDV as of Jan 25), is US import tariffs, which could disrupt foreign investment and sentiment,' CGSI Research added. The research house viewed Gamuda's exposure to Vietnam as heavy on its residential quick turnaround projects located in prime locations. 'The litmus test is the launch of the third phase of Eaton Park, which we expect to take place in June. 'The maiden launch in May 2024 was fully sold in two hours, leading to a second launch in December 2024, which had since been fully sold as well,' CGSI Research noted. It has retained its 'add' call on Gamuda with a target price of RM6 a share despite trimming its earnings projections on the company. CGSI Research cut its FY25 to FY27 earnings per share forecast for Gamuda by 11%, 7% and 2% for FY25, FY26 and FY27 respectively, driven by expectations of slower progress for some construction projects, such as Silicon Island reclamation works (six months behind schedule) and the Penang LRT. There was also a delay in contract awards of projects including the Sabah Water Treatment plant as well as data centre projects. 'Nevertheless, we think FY27 earnings should still double from FY24, implying three-year compounded annual growth rate of 24%,' it said.
AU Financial Review
12-06-2025
- Business
- AU Financial Review
Allan's SRL funding plan contradicts housing promise: property industry
The property industry says it is not financially viable to build new apartments under the Victorian government's Suburban Rail Loop plan because its funding model discourages property development, despite Premier Jacinta Allan insisting it is a housing project. Victoria has committed $12 billion of its own funds for the first stage of the SRL, known as SRL East, and is relying on the federal government to finance a third. The Allan government claims the remainder will be raised via value capture, using funds raised by increased stamp duty on commercial properties and levies on developers and residential car parking.
Mint
25-05-2025
- Health
- Mint
India's diagnostic clinics registering a significant increase in covid-19 testing
Major diagnostic firms Aglius (formerly SRL), Lal Path Labs, Dr Dangs and Metropolis Healthcare Ltd have seen a significant increase in covid-19 tests since the beginning of May, senior executives said. Some states such as Kerala, Tamil Nadu, Maharashtra and Karnataka, which have stepped up testing are reporting more cases. Four deaths have been reported in Maharashtra and with one single death in Karnataka due to covid-19. However, all the deaths were linked to underlying morbidities. Also read: Antimicrobial resistance fears herd India towards ban on antibiotics for animals This increased testing follows a sudden spurt of cases in Hong Kong, Singapore, Thailand and other Asian countries, due to two new variants of coronavirus—NB.1.8.1 and LF.7—arising from the JN.1 variant prevalent since 2023. Dr Anand K, MD & CEO, Agilus Diagnostics said that there has been a noticeable uptick in covid testing demand since mid-May 2025. 'Covid-19 testing numbers have seen a significant increase of approximately 95% compared to the January–April 2025 period. This rise has been primarily observed following reports of a regional surge in South Asia. We have tested 300+ patients for in May 2025 so far. The majority of the cases are being referred by doctors and hospitals, indicating clinical suspicion or protocol-driven testing," said Anand. Also read: India steps up surveillance as covid-19 cases surge in Hong Kong and Singapore On Saturday, the Union health secretary Punya Salila Srivastava reviewed the matter regarding covid-19 cases with senior government officials and health agencies such as the Indian Council of Medical Research, Director General of Health Services and National Centre for Disease Control. The meeting was told that most of these cases are mild and under home care. Dr Arjun Dang, chief executive officer and Partner, Dr Dangs Lab, said that until last week, daily covid-19 testing numbers remained consistently low. 'However, we have recently observed a noticeable spike in test requests. This uptick appears to be driven by growing public awareness of the resurgence of covid-19 cases in Southeast Asian countries, coupled with a shift in mindset—people are now more willing to get tested when experiencing flu-like symptoms, in an effort to responsibly rule out covid-19." The strategy of test, track and treat has been adopted by states and union territories early detection and isolation of covid-19 cases. 'There is no indication that the circulating variants are more transmissible or cause more severe disease compared to the previously circulating variants. The Union health ministry remains vigilant and through its multiple agencies, is proactively monitoring the situation closely," official sources said. Dr Arvind Lal, Managing Director at the Lal Path Laboratory said that right now, covid-19 testing positivity rate is 40%. 'However, this positivity rate is not so concerning if we compare our testing results in the past few years." The health ministry had recorded 257 active covid cases as of 19 May on its covid-19 dashboard. Also read: Small drug firms hustle near deadline with 1,000 GMP compliance applications Dr Raman Gangakhedkar, former head of Head Scientist of Epidemiology and Communicable Diseases at the Indian Council of Medical Research said that covid-19 is now endemic in India. 'The variant is showing increased transmission rate but severity and hospitalization is not increasing. We need to monitor whether hospitalization and death are happening due to covid-19. Ff it is happening due to covid, then surveillance needs to be strengthened." Dr Niranjan Patil, associate vice president, Scientific Business head- Infectious diseases, Metropolis Healthcare Ltd, Mumbai, said that most recent cases have presented with mild symptoms and have remained low in number, though a noticeable increase has been observed since the beginning of May.
Time Out
13-05-2025
- Business
- Time Out
Construction has kicked off on Melbourne's Suburban Rail Loop, a massive new 90km rail line across the outer suburbs
Melbourne's public transport system is in the throes of a makeover, in a big way. Between the imminent opening of the metro tunnel and Myki cards on their way to being scrapped, we'll be seeing some significant changes to how we get around our city in the coming years. There's even a plan in the pipeline for a second metro tunnel with a station underneath Marvel Stadium. But wait – believe it or not, there's more. The next big (or rather, ginormous) transport project is the Suburban Rail Loop (SRL), and construction officially kicked off this month. We don't blame you if you have no idea what the SRL is, since it's a little hard to keep up with Melbourne's many construction projects. Essentially, the SRL is a brand-new rail line that will run for 90 kilometres around the outer ring of Melbourne's metro area, travelling from Werribee in the west to Cheltenham in the south. The purpose of the SRL is to take pressure off the inner areas of Melbourne, spread out our city's population and infrastructure density and accommodate for the booming growth areas in outer Melbourne. According to the state government, Melbourne's population growth is on track to be the current size of London by 2050, so more transport is urgently needed. It will travel via the future airport rail link through the new super hub station in Sunshine, then to the northern suburbs, stopping at Broadmeadows, Fawkner, Reservoir, Bundoora and Heidelberg. Then it will zoom to the east, via Doncaster, Box Hill, Burwood, Glen Waverley, Monash, Clayton and finish in Cheltenham. It's a gigantic project, so the SRL is divided into four separate sections – each an individual project that will be completed gradually over the next 30 years or so. The SRL East project is the first cab off the rank, as construction began on the eastern portion of the rail in early May. Giant tunnel boring machines will create 26 kilometres of twin tunnels, running underground between Cheltenham and Box Hill. This part of the rail line is planned to be up and running by 2035 and is expected to cost up to $34.5 billion. When it's all completed, the entire SRL will connect every major train service, from the Frankston Line to the Werribee line, making it easier to travel between suburbs and eliminating the need to travel across Melbourne via the CBD. The project will include several new stations across Melbourne's suburbs, with six new underground stations in the east and seven new stations proposed in the north. Broadmeadows, Sunshine and Clayton will become transport 'super hubs', with both metro and regional lines running through these stations.
The Age
05-05-2025
- Business
- The Age
Jacinta Allan is either delusional or dogged by claiming election was a mandate for SRL
The federal Liberals looked to tie Albanese to Allan in key federal seats with flyers and posters depicting both leaders under the title 'double trouble for Victorians'. While the Albanese government did not campaign on the SRL – it refused to commit federal funds to the $35 billion project beyond the $2.2 billion it had previously announced – Allan said the project was implicitly on the ballot due to the Coalition's pledge to scrap it. 'I think if you spend any time out and about on the ground in local communities, the Suburban Rail Loop was being talked about,' she said. 'It was being talked about on doors. It was being talked about on the streets. The communities understood.' When asked whether she accepted that her government's unpopularity was a genuine issue for her federal colleagues in the campaign, Allan did not address the question directly. She suggested every vote for federal Labor was, in effect, an endorsement of her government. 'What Victorians were focused on is what federal and state Labor governments are focused on. We share a value set in the Labor movement. We are on the side of working people, we are on the side of families. We understand, in a global, challenging economic environment, that families are looking to their government to do more.' Steve Dimopoulos, one of the state MPs who applauded the arrival of his leader on Monday, took the argument one step further. 'Three-year-old kinder, women's health, infrastructure projects, employment, free TAFE – they are all Labor values and, frankly, they are policy initiatives that the Victorian Labor government has come up with, and good governments, like (South Australian Premier Peter) Malinauskas and the prime minister have taken a leaf out of that book. Loading 'We are the powerhouse of Labor values in this country.' Deputy Prime Minister Richard Marles, during an interview with ABC Radio, was asked whether the SRL had helped the federal campaign. 'I think ultimately, this was an election which was decided on federal issues,' he said. 'One of the things that is clear in Australian politics is that ultimately, Australians do know the tier of government they are voting for.' Labor's long-serving member for McEwen, Rob Mitchell, put it more bluntly. He confirmed people had concerns about the state government but said they were over-ridden by those about what a Dutton government would mean. 'People were smart enough to know there was a difference,' he told this masthead. 'There were plenty of people who said, 'Look, I'm not overly happy with Labor, you haven't fixed everything.' But, particularly with women, if you said, 'Do you want Peter Dutton as your prime minister?', it was a pretty simple f--k no.' Evidence of voters separating state and federal issues can be found in polling booths in Melbourne's west, where voters cast ballots on Saturday only three months after having their say in the Werribee state byelection. In Manor Lakes and Wyndham Vale, the same polling places which returned primary votes of 30 and 27 per cent for state Labor MP John Lister endorsed federal MP Joanne Ryan with 45 per cent of the vote. At Manorvale Primary School in Werribee, the same electors who reduced Labor's vote to just 24.4 per cent in the byelection gave Labor 42.6 per cent in the federal poll. Victoria played a critical role in the re-election of the Albanese government. Federal Treasurer Jim Chalmers said on election night that it was the state Labor needed to successfully defend to win. Depending on which way undecided electorates fall, it may end up delivering 27 of 38 Victorian seats to the federal government. At the same time, the 1.4 per cent swing towards Labor recorded in Victoria on Saturday was half the strength of the national swing. In NSW, it was 3.2 per cent, South Australia 5 per cent, and in Tasmania, it was 8 per cent. Over the Christmas and new year break, ALP party polling warned of a very different outcome. Three party figures, not authorised to discuss internal research, suggested that Labor was at risk of losing Aston, Chisholm, Dunkley and Bruce in Melbourne's east and south-east, Hawke and Gorton in the city's west, and McEwen in the north. The party's polls and focus group research indicated that dissatisfaction with the Victorian government was a significant cause of voters turning away from Labor. This is consistent with the findings of published polls, including surveys conducted for this masthead by Resolve Political Monitor. Loading Allan's supporters say the election result shows this research was either flawed or wrongly interpreted, and the Victorian Labor brand is strong. Allan argues it is now an academic point because the decision of voters trumps the polls, party research and the views of her detractors. 'I'm not focused on commentators. I'm focused on what Victorians are saying,' she said. The premier is adamant Victorians want the SRL. This is why, on the morning after an election weekend, she drove to Clarinda in Melbourne's south-east, put on a high-vis vest and declared that major construction work was starting to prepare for the arrival of tunnel-boring machines at the end of this year.
