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Showing posts with label wct. Show all posts
Showing posts with label wct. Show all posts
Thursday, February 23, 2012
WCT's unit clinches RM331m job in Sabah
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Sunday, March 13, 2011
Tuesday, March 1, 2011
Wednesday, January 12, 2011
MRT jobs to be out in May, ahead of schedule
This is earlier than some analysts expected and will likely be welcomed by the market, which has been looking for projects like this, which come under the government's Economic Transformation Programme (ETP), to show progress.
The project's groundbreaking is supposed to kick off this July.
The Land Public Transport Commission chief executive officer Mohd Nur Ismal Kamal said tenders for the preliminary and main works will likely be called by Syarikat Prasarana Negara Bhd at the end of April, with the awards to be announced "around mid-May".
The Prasarana-appointed project manager, a joint venture between Gamuda Bhd and MMC Corp Bhd, will be able to give recommendations on which firms should get contracts, but it will be the government who has the final say, Nur Ismal said.
It is "not clear" yet if tenders for rollingstock, which include trains, will also be called before the project's groundbreaking, he added.
The Kajang-Sungai Buloh line, expected to be operational by 2016, is the first of possibly at least three MRT lines to come that would run a length of between 55 and 60km.
The three lines may cost RM36.6 billion in total, going by Gamuda-MMC's initial estimates in 2009, but this has yet to be determined.
Nur Ismal said the target cost for the first line is currently being worked out.
A special purpose vehicle set up by the Ministry of Finance Inc will be tasked to raise funds for this project, and possibly other infrastructure projects in future, he said.
There will be incentives for MMC-Gamuda if they can deliver the project below the target cost. Should they incur cost over-runs, however, they will have to pay up the difference, he said.
"We are highly focused on delivering the first line," he said.
Nur Ismal was speaking to reporters in Putrajaya after Prime Minister Datuk Seri Najib Razak announced 19 more projects, including the MRT, under the ETP.
More news on the second and third lines may be unveiled in late March or early April this year, he added.
"The timeline for the (first) MRT tender is slightly ahead of our expectations ... it should be viewed positively by the market," Chris Eng, head of reach at OSK Investment Bank Bhd, told Business Times.
Najib said the MRT will employ about 130,000 people at its peak construction phase and have a significant multiplier impact on associated industries.
Investment in it will see an incremental gross national income contribution of RM21.3 billion come 2020.
Tuesday, December 21, 2010
Building up to a super bull run
A super bull run is on the horizon for Malaysian construction stocks next year on optimism that the RM40 billion Mass Rapid Transit project will start in July.
The bullish outlook is also backed by new government initiatives such as the Economic Transformation Programme and the 10th Malaysia Plan, said UOB KayHian head of research Vincent Khoo.
Research houses are maintaining their overweight call on the sector.
"We expect a bull run next year," Khoo told Business Times.
An analyst from TA Research said the stock market needs news like the MRT as a catalyst for construction stocks to sustain its upbeat momentum.
He said judging from the size of the MRT project, it is certain that almost all local construction companies will benefit.
"If the government divides the project evenly, then each company could get contracts worth RM500 million to RM1 billion. This augurs well for the sector," he said.
The MRT, comprising three lines, is the largest infrastructure project in Malaysia's history. The last project announced was the RM12.5 billion double tracks.
Analysts said the first of the three MRT lines, joining Sungai Buloh and Kajang, running through Kuala Lumpur City Centre, is estimated at RM14 billion. The line will cover 60km and have 35 stations.
They said MMC-Gamuda Joint Venture Sdn Bhd may get the tunneling portion from Sungai Buloh to Kajang, worth RM6 billion to RM8 billion.
Master Builders Association Malaysia president Kwan Foh Kwai expects companies like Sunway Construction, IJM Construction, Muhibbah Engineering, Bina Puri, Loh & Loh, MRCB Engineering, UEM Builders, WCT, Ranhill and Ahmad Zaki to bid for the MRT.
Others include Eversendai Corp, Crest Builders, Putra Perdana Construction and MTD ACPI.
Ahmad Zaki managing director Datuk Wan Zakariah Muda said the MRT news is positive for the sector. "There will be spillovers and knock-on effects. We plan to participate in the MRT," he said.
An official from Putra Perdana Construction Sdn Bhd said it will eye packages to build structures, stations, bridges and tunnel lining work.
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The bullish outlook is also backed by new government initiatives such as the Economic Transformation Programme and the 10th Malaysia Plan, said UOB KayHian head of research Vincent Khoo.
Research houses are maintaining their overweight call on the sector.
"We expect a bull run next year," Khoo told Business Times.
An analyst from TA Research said the stock market needs news like the MRT as a catalyst for construction stocks to sustain its upbeat momentum.
He said judging from the size of the MRT project, it is certain that almost all local construction companies will benefit.
"If the government divides the project evenly, then each company could get contracts worth RM500 million to RM1 billion. This augurs well for the sector," he said.
The MRT, comprising three lines, is the largest infrastructure project in Malaysia's history. The last project announced was the RM12.5 billion double tracks.
Analysts said the first of the three MRT lines, joining Sungai Buloh and Kajang, running through Kuala Lumpur City Centre, is estimated at RM14 billion. The line will cover 60km and have 35 stations.
They said MMC-Gamuda Joint Venture Sdn Bhd may get the tunneling portion from Sungai Buloh to Kajang, worth RM6 billion to RM8 billion.
Master Builders Association Malaysia president Kwan Foh Kwai expects companies like Sunway Construction, IJM Construction, Muhibbah Engineering, Bina Puri, Loh & Loh, MRCB Engineering, UEM Builders, WCT, Ranhill and Ahmad Zaki to bid for the MRT.
Others include Eversendai Corp, Crest Builders, Putra Perdana Construction and MTD ACPI.
Ahmad Zaki managing director Datuk Wan Zakariah Muda said the MRT news is positive for the sector. "There will be spillovers and knock-on effects. We plan to participate in the MRT," he said.
An official from Putra Perdana Construction Sdn Bhd said it will eye packages to build structures, stations, bridges and tunnel lining work.
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Friday, December 10, 2010
GAMUDA - HDBSVR reaffirms Buy rating on Gamuda, TP RM4.90
KUALA LUMPUR: Hwang DBS Vickers Research reaffirms its Buy rating and sum-of-parts derived target price of RM4.90 for GAMUDA BHD [], which remains on its high conviction list. Its last traded price was RM3.79.
The research house said on Friday, Dec 10 Gamuda is looking to bid for the Qatar MRT project next year worth US$45bn (RM141bn). This target completion date is 2021, ahead of the FIFA World Cup in 2022.
HDBSVR said within the Middle East, Gamuda already has two projects in Qatar ' the New Doha International Airport (88% completed) and Durkhan Highway (100% completed). It is also bidding for the second phase of Durkhan Highway worth at least RM1bn together with WCT where a result should be known soon.
Gamuda's Group MD Datuk Lin Yun Ling was quoted saying he believed the company will be able to garner enough resources for both the KL MRT and Qatar MRT should it be successful in bagging both.
'While not made official, we understand the MMC-Gamuda JV will be appointed project delivery partner (PDP) for the RM36bn MRT project. This will allow it full control over the project while also bearing execution risk.
'However, what remains unclear for now is the RM14bn tunneling works which the JV is eyeing. In our view, the JV is also frontrunner to clinch this given its past expertise which is a scarcity among the local contractors,' said HDBSVR.
The research house also noted that it was not in the government's interest to delay this project by opening up the tender to foreign contractors given the MRT is an vital component of the ETP programme.
Taken from here...
The research house said on Friday, Dec 10 Gamuda is looking to bid for the Qatar MRT project next year worth US$45bn (RM141bn). This target completion date is 2021, ahead of the FIFA World Cup in 2022.
HDBSVR said within the Middle East, Gamuda already has two projects in Qatar ' the New Doha International Airport (88% completed) and Durkhan Highway (100% completed). It is also bidding for the second phase of Durkhan Highway worth at least RM1bn together with WCT where a result should be known soon.
Gamuda's Group MD Datuk Lin Yun Ling was quoted saying he believed the company will be able to garner enough resources for both the KL MRT and Qatar MRT should it be successful in bagging both.
'While not made official, we understand the MMC-Gamuda JV will be appointed project delivery partner (PDP) for the RM36bn MRT project. This will allow it full control over the project while also bearing execution risk.
'However, what remains unclear for now is the RM14bn tunneling works which the JV is eyeing. In our view, the JV is also frontrunner to clinch this given its past expertise which is a scarcity among the local contractors,' said HDBSVR.
The research house also noted that it was not in the government's interest to delay this project by opening up the tender to foreign contractors given the MRT is an vital component of the ETP programme.
Taken from here...
Thursday, October 21, 2010
WCT lands two projects worth RM1.49b in Qatar and Sabah
Written by Surin Murugiah Wednesday, 20 October 2010 18:48
KUALA LUMPUR: WCT BHD [] has secured two separate contracts in Qatar and Malaysia worth a total of approximately RM1.49 billion.
In a filing to Bursa Malaysia on Wednesday, Oct 20, WCT said it had been awarded a contract by the government of Qatar to build and maintain a government administrative building in Doha for a lump sum equivalent to RM1.36 billion.
It said the works for this project were expected to be completed by April 2013.
In a separate announcement, WCT said it had accepted a contract from the Public Works Department Malaysia to design, build and maintain the Tuaran Hospital in Sabah for RM127.8 million.
It said the project was expected to be completed on May 1, 2013.
WCT said the two projects would not have any material impact on its earnings for the financial year ending Dec 31, 2010 but were expected to contribute positively to its future earnings.
Taken from here...
KUALA LUMPUR: WCT BHD [] has secured two separate contracts in Qatar and Malaysia worth a total of approximately RM1.49 billion.
In a filing to Bursa Malaysia on Wednesday, Oct 20, WCT said it had been awarded a contract by the government of Qatar to build and maintain a government administrative building in Doha for a lump sum equivalent to RM1.36 billion.
It said the works for this project were expected to be completed by April 2013.
In a separate announcement, WCT said it had accepted a contract from the Public Works Department Malaysia to design, build and maintain the Tuaran Hospital in Sabah for RM127.8 million.
It said the project was expected to be completed on May 1, 2013.
WCT said the two projects would not have any material impact on its earnings for the financial year ending Dec 31, 2010 but were expected to contribute positively to its future earnings.
Taken from here...
Friday, October 8, 2010
WCT get concession for RM486m complex at LCCT
Written by Surin Murugiah Friday, 08 October 2010 17:56
KUALA LUMPUR: WCT BHD [] has secured a contract from Malaysia Airports Holdings Bhd (MAHB) to develop the new low cost carrier terminal (KLIA2) integrated complex on build-operate-transfer concession.
WCT said on Friday, Oct 8 the concession is for 25 years and may be extended for a further 10 years upon expiry. The development of the complex would be undertaken by a special purpose vehicle (SPV) in which WCT and MAHB will hold 70:30 equity interest.
“The CONSTRUCTION [] cost of the integrated complex is estimated at approximately RM486 million which the SPV will finance partly via internally generated funds and partly by bank borrowings. The construction of the Integrated Complex is expected to be completed by June 30, 2012,” it said.
Under the concession, WCT via the SPV will undertake the design, procurement, engineering, construction, completion, and thereafter, the operation, management and maintenance of the complex for the duration of the concession.
“As KLIA2 will be a dedicated terminal for low-cost carriers and in view of the expected increase in demand for low cost air travel, the prospects of the SPV are expected to be positive,” said WCT.
The integrated complex comprises of a transportation hub for taxis and buses; one building with net lettable area of approximately 437,000 sq ft and car parks with up to 6,000 parking bays.
KUALA LUMPUR: WCT BHD [] has secured a contract from Malaysia Airports Holdings Bhd (MAHB) to develop the new low cost carrier terminal (KLIA2) integrated complex on build-operate-transfer concession.
WCT said on Friday, Oct 8 the concession is for 25 years and may be extended for a further 10 years upon expiry. The development of the complex would be undertaken by a special purpose vehicle (SPV) in which WCT and MAHB will hold 70:30 equity interest.
“The CONSTRUCTION [] cost of the integrated complex is estimated at approximately RM486 million which the SPV will finance partly via internally generated funds and partly by bank borrowings. The construction of the Integrated Complex is expected to be completed by June 30, 2012,” it said.
Under the concession, WCT via the SPV will undertake the design, procurement, engineering, construction, completion, and thereafter, the operation, management and maintenance of the complex for the duration of the concession.
“As KLIA2 will be a dedicated terminal for low-cost carriers and in view of the expected increase in demand for low cost air travel, the prospects of the SPV are expected to be positive,” said WCT.
The integrated complex comprises of a transportation hub for taxis and buses; one building with net lettable area of approximately 437,000 sq ft and car parks with up to 6,000 parking bays.
Wednesday, June 23, 2010
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 ...
Wednesday, April 28, 2010
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.
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.
Friday, April 16, 2010
Construction Sector: Overweight
AMRESEARCH maintains an "overweight" stance on the construction sector after IJM Corp Bhd bagged two contracts worth a combined RM247 million in Sarawak this week.
The stockbroker likes IJM, Gamuda, WCT, Naim Holdings Bhd and Hock Seng Lee in the sector.
"We expect a re-acceleration of contract awards ahead of the unveiling of the 10th Malaysia Plan in June," AmResearch said in a report yesterday.
"This will be further lifted by a recovery in construction margins and gradual revitalisation of order flows abroad - notably in India, the Middle East and Vietnam."
"We understand that the Murum Dam access road project consists of five main packages worth between RM700 million and RM800 million. Access roads are crucial to improve connectivity to the RM3 billion Murum Hydroelectric Dam - constructed by China's Three Gorges Project Corp Ltd."
"Award of first two packages to IJM will likely prod rollout of the project's three remaining packages worth an estimated RM500 million-RM600mil soon. Our channel checks indicate that Hock Seng Lee appears to be a frontrunner for at least two of three packages - given their solid track record as an infrastructure/land reclamation specialist in Sarawak."
"Latest development validates our growing conviction of intensifying contract flows from Sarawak, ahead of its state elections. Award of the work packages for the Murum Dam access roads to IJM follows a Business Times report earlier this week that up to eight contractors had been shortlisted for upgrading Sibu Airport."
The stockbroker likes IJM, Gamuda, WCT, Naim Holdings Bhd and Hock Seng Lee in the sector.
"We expect a re-acceleration of contract awards ahead of the unveiling of the 10th Malaysia Plan in June," AmResearch said in a report yesterday.
"This will be further lifted by a recovery in construction margins and gradual revitalisation of order flows abroad - notably in India, the Middle East and Vietnam."
"We understand that the Murum Dam access road project consists of five main packages worth between RM700 million and RM800 million. Access roads are crucial to improve connectivity to the RM3 billion Murum Hydroelectric Dam - constructed by China's Three Gorges Project Corp Ltd."
"Award of first two packages to IJM will likely prod rollout of the project's three remaining packages worth an estimated RM500 million-RM600mil soon. Our channel checks indicate that Hock Seng Lee appears to be a frontrunner for at least two of three packages - given their solid track record as an infrastructure/land reclamation specialist in Sarawak."
"Latest development validates our growing conviction of intensifying contract flows from Sarawak, ahead of its state elections. Award of the work packages for the Murum Dam access roads to IJM follows a Business Times report earlier this week that up to eight contractors had been shortlisted for upgrading Sibu Airport."
Monday, February 8, 2010
WCT wins RM467m contract in Bahrain
WCT Bhd, a Malaysian construction company, said its joint venture unit signed a RM467 million contract for the “fit-out works” for a hotel in Bahrain.
WCT signed the contract with MAF Investments Bahrain BSC, it said in a statement today.
Bloomberg
WCT signed the contract with MAF Investments Bahrain BSC, it said in a statement today.
Bloomberg
Tuesday, January 19, 2010
CIMB Keeps WCT At Outperform, MYR3.92 Target
0614 GMT [Dow Jones] STOCK CALL: CIMB Research keeps WCT (9679.KU) as Outperform with unchanged MYR3.92 target; says WCT was most active among local construction companies in terms of contract awards in 2009. "After winning MYR1.7 billion worth of contracts last year, the group will continue to vie for local open tender jobs in 2010," says analyst Sharizan Rosely; thinks WCT's attention, however, will be on MYR7 billion light rail transit upgrade/extension and runway portion for new low cost carrier terminal. "There is more upside to its outstanding order book of MYR2.9 billion," says Sharizan; adds Gulf region ex-Dubai, particularly Qatar, Abu Dhabi, will be group's focus in 2010. Stock last flat at MYR2.74. (ECH)
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