Land re-pricing to boost UEM Land, Tebrau

UEM Land Bhd, Tebrau Teguh Bhd and Mulpha International Bhd are among Malaysian property companies that will benefit from a “re-pricing” of the land and property values in the southern Johor state, according to RHB Research Institute Sdn Bhd.

“The re-rating of the Johor property play started following the negotiation of the land swap deal between Singapore and Malaysia,” RHB said.

“The re-rating process was further accelerated by the introduction of the Government’s economic transformation program.” -- Bloomberg

Read more: Land re-pricing to boost UEM Land, Tebrau

15 firms attend SPNB tender briefing for LRT job

STATE-owned public transport operator Syarikat Prasarana Negara Bhd (SPNB) had called for a tender briefing yesterday for the light rail transit (LRT) line extension in the Klang Valley.

It is understood the briefing was attended by 15 construction companies to discuss the scope of works involved in the LRT extension project estimated at about RM9 billion.

SPNB invited the companies.

They include Sunway Construction Sdn Bhd, IJM Construction Sdn Bhd, Muhibbah Engineering Sdn Bhd, Gamuda Bhd, Bina Puri Holdings Bhd, Loh & Loh Corp Bhd, MRCB Engineering Sdn Bhd as well as joint-ventures such as WCT-Sinohydro, Ranhill-CCCC and UEM Builders-Intria Bina.

It is understood that the companies are expected to visit the site this Sunday, where the lines between Ampang and Kelana Jaya are to be built.

"The companies must buy the tender documents for the project by June 24. SPNB may call for tenders for infrastructure works first," a source told Business Times.

It is learnt that there will be a total of eight packages under the project, which will be tendered in stages.

These include the construction and completion of facilities work for the Ampang LRT line, and the Kelana Jaya LRT line.

The other packages are to nominate sub-contractors for fabrication and delivery of segmental box girders for both the Ampang and Kelana Jaya LRT lines.

SPNB group managing director Datuk Idrose Mohamed had recently said that 15 candidates were shortlisted for the sub-contracting of fabrication and delivery of segmental box girder works.

SPNB is raising RM4 billion from bond sales to part-finance the project, which forms part of the RM10 billion railway scheme to expand Kuala Lumpur's public transport network.

Source ...

SunCon, WCT, Fajar, Muhibbbah pre-qualified as main contractors for LRT extensions

Written by Joseph Chin Wednesday, 28 April 2010 11:35

KUALA LUMPUR: Syarikat Prasarana Negara says 17 applicants have been pre-qualified as main contractors for the extensions to the light rail transits for the Ampang and Kelana Jaya lines.

It said on Wednesday, April 28 the applicants have demonstrated their technical and financial capacity and capability with the relevant infrastructure works experience.

They are:
1.Sunway CONSTRUCTION [] Sdn Bhd
2.Fajarbaru Builder Sdn Bhd – Signatium Construction Sdn Bhd JV
3.WCT – Sinohydro JV
4.IJM Construction Sdn Bhd
5.Ranhill – CCCC JV
6.Muhibbah Engineering Sdn Bhd
7.Gamuda Berhad
8.UEM BUILDERS BHD [] – Intria Bina Sdn Bhd JV
9.MMC- Zelan JV
10.MRCB Engineering Sdn. Bhd
11.Trans Resources Corporation Sdn Bhd
12.BPHB – Tim Sekata JV
13.Zabima – Leighton JV
14.Mudajaya Corporation Berhad
15.MTDC – Persys JV
16.Loh & Loh Constructions Sdn Bhd
17.Ahmad Zaki Sdn Bhd

In addition, 15 applicants have been pre-qualified as nominated sub-contractors for the fabrication and delivery of segmental box girder. The successful contractors will be notified officially in due course by Prasarana. The 15 are:

1.Sunway Construction Sdn Bhd
2.Fajarbaru Builder Sdn Bhd – Signatium Construction Sdn Bhd JV
3.WCT – Sinohydro JV
4.IJM Construction Sdn Bhd
5.Ranhill – CCCC JV
6.Muhibbah Engineering Sdn Bhd
7.UEM Builders Bhd – Intria Bina Sdn Bhd JV
8.MMC- Zelan JV
9.MRCB Engineering Sdn. Bhd
10.BPHB – Tim Sekata JV
11.Zabima – Leighton JV
12.MTDC – Persys JV
13.Ahmad Zaki Sdn Bhd
14.Bina Puri – Acre Works – SNC Lavalin JV
15.UEM Construction Sdn Bhd – Projek Penyelenggaraan Lebuhraya Berhad (PROPEL) JV

The financing of the project will be from Islamic bonds guaranteed by the Government. In September 2009, Prasarana had successfully launched RM4.0 billion Sukuk programme of which RM2.0 billion had been raised and oversubscribed by 5.3 times for the 15-year and 2.7 times for the 20-year tranche to part finance the line extension project. The balance of RM2.0 billion will be raised as the project implementation progresses.

Putrajaya to call for project tenders worth RM1b

Companies like Ahmad Zaki Resources, IJM Corp, Sunway Holdings, UEM Group and Ireka Corp are set to bid for tenders to build office towers, residential properties and office blocks.

Putrajaya Holdings Sdn Bhd will call for tenders for projects worth over RM1 billion this year as it is bullish on the property market in Putrajaya.

Chief executive officer Datuk Azlan Abdul Karim said the tenders are to build four office towers worth a combined RM700 million, residential properties and office blocks.

Tenders for the 14- and 15-storey office towers with one million sq ft of built-up space will be called in the next five months.

Companies like Ahmad Zaki Resources Bhd (AZRB), IJM Corp Bhd, Sunway Holdings Bhd, UEM Group and Ireka Corp Bhd are set to bid.

"When you have the government as the anchor tenant here, there are always spin-offs. There is support from the private sector and government agencies," Azlan said.

"We will lease the four office towers first and sell later. We have prospective buyers," he told Business Times after the signing of an agreement between Putrajaya Holdings and AZRB's construction arm, Ahmad Zaki Sdn Bhd (AZSB), in Putrajaya yesterday.

As Putrajaya is due for a cybercity status, more multinational companies (MNC) are expected to step in.

"The government wants Putrajaya to be a green city. This will attract more MNCs and local private sector companies as well as foreign firms.

"But for Putrajaya to go green, we need a monorail. I hope the government will have a budget to build a monorail under the 10th Malaysia Plan. That will help boost activities in Putrajaya," Azlan said.

According to Azlan, Perbadanan Putrajaya, the city's local authority, has sent in a request to the government. The matter is still pending.

On the signing with AZSB, Azlan said it will build a waterfront commercial project fronting the Putrajaya lake for RM126 million over the next two years.

AZSB will construct three blocks of three- and five-storey buildings comprising 106 units of retail lots and shop offices.

Azlan said the average selling price per unit is around RM500 per sq ft and more than half have been booked.