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Sunday, 1 September 2013

YTL have financial muscle for KL-Singapore High Speed Rail Project 杨忠礼机构有财力独自建隆新高铁

The Government’s Fiscal Policy Committee is to consider implementing measures to improve the country’s fiscal position.

We expect the government to review and reprioritise some infrastructure and real estate projects like the KL-Singapore high speed rail, southern (Gemas-JB) double track rail at inaugural meeting of the Fiscal Policy Committee (FPC).

  The Government said it was committed to ensuring that its debt did not exceed 55% of GDP, that its revenue exceeded operating expenditure and the fiscal deficit did not exceed 4% of GDP.

 Husni said with the narrowing current account surplus, all future public sector projects would be considered carefully and also the current account position in the balance of payments.

“Projects that will have a big impact of public finances will be reviewed and sequenced properly to avoid excessive strain on the Federal Budget,” said Husni.

He added that to ensure money was spent wisely, an Outcome Based Budgeting will be introduced in a pilot programme at the Finance Minstry, Health Ministry and International Trade and Industry Ministry.

“Public sector projects with low import content and high multiplier effects will be given priority, without compromising economic growth,” he said.

AmResearch Sdn Bhd economist Patricia Oh said with a budget deficit target of 3% in 2015, the importance of having clarity on fiscal reforms was important.

“The Fitch sovereign credit outlook downgrade will have made this clear to the Government,” she said.

The cost of KL-Singapore High Speed Rail Project is in excess of RM30billion

Accordint to Pemandu , feasibility studies on the high-speed rail (HSR) link connecting Kuala Lumpur to Singapore has been completed. However, technical and engineering study  has yet to be completed and subject to discussion with Singapore. Reported Nanyang.

Minister in the Prime Minister's Department Nancy Shukri  did not elaborate on the report's details and also did not indicate whether the project will be handed out on an open-tender basis but added that the HSR link will involve "major stations" in states between Kuala Lumpur and Singapore.

According to Malaysia's Land Public Transport Commission's website, there will be five transit stations between the two cities.

It was reported that tycoon Tan Sri Syed Mokhtar Albukhary, through a consortium comprising his company MMC Corp Bhd and Gamuda Bhd, is also keen in taking a stab at the project.

The consortium is currently building the first phase of the Mass Rapid Transit project in the Klang Valley.

DRB-Hicom, a company control by Tan Sri Syed Mokhtar Albukhary announced net profit dropped 68.5% to RM10.26mil from RM32.6mil, The decrease was mainly due to higher interest cost.

Another company control by Tan Sri Syed Mokhtar Albukhary of MMC corporation, announced
30% drop in revenue in Quarter 2

 YTL Corp Bhd's
Tan Sri Francis Yeoh has publicly declared that he is interested in handling the project.

Indeed, it was Yeoh who first mooted the idea of a HSR connecting Singapore to Malaysia's capital years ago.

YTL Corporation have strong balance sheet and finacial muscle to implement the project without governement funding. KL-Singapore High Speed Rail Project might have to awarded to YTL Corporation if government do not want to miss the target to complete the project by year 2020.

Mr Yeoh's penchant for scooping up valuable assets in distressed times and turning them into gems in the cash-plump stable is widely known.

No surprise then that Mr Yeoh is hoping he can work the same kind of magic again in the current slowdown.

'I like headwinds. We can buy a lot of assets,' he says, true to form.









《商业时报》报道引述消息人士指出,我国富豪丹斯里赛莫达旗下马矿业,正与金务大和两家分别来自中国及欧洲的系统整合商(system integrator)成立财团,合力争取隆新高铁计划的合约。



消息人士披露,杨忠礼机构(YTLCorp,4677,主板建筑股)也对高铁计划充满兴趣,而且将与数外国公司合作竞标,包括西门子公司(Siemens AG)。





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