I'm wondering how would it affect the KL & Selangor planned projects after opposition party taken over Selangor and Pinang..I have feeling that Putrajaya monorail will be the first one to stop..and our pencakar langit forum may become "less" active due to that..

Of course it will affect the development. BN is known to "punish" constituents or states that abandon them. To get some clue, just look at what they did to Kelantan.

Urban center like KL and Kelana Jaya can survives the collective punishment should BN decided to impose that because of high level of private sector participation in these area. Bukit Bintang has always been a DAP stronghold but look how developed it was.

I just pity all those rural constituents in Selangor. Maybe BN will play revenge, or play reverse psychology with these people - by giving in to poor people, in return for future support in the next general election. Who knows what will be their next course of action?

However, this time round, if they punish those the people who didn't vote them in, they are also shooting their own foot.

First, most of the big shots live in urban centres where people reject them. Less development there means less amenities for themselves.

Many of the UMNO and BN candidates are voted in from their respective kampung constituents. So, if they want to channel those money to develop the rural areas of Malaysia, that is good news too.

Last but not least, since so many people reject BN this time round, punishing these people would not garner well for BN as this would not help in securing votes in the next General Election. Previously, BN could bully Kelantan because it was the only state not in BN hands. This time, they can't use the same tactics.

Therefore, I think projects would be carried out, but with more care and attention paid to how viable they are, especially in Penang, Selangor and Perak. I hope they trim down on the wastages and ensure better bidding process, and not just award contracts to government-friendly individuals.

PGCC project may be halted

PENANG Global City Centre (PGCC) may not to take off since the opposition is forming the state government.

PKR’s candidate for Kebun Bunga Jason Ong Khan Lee, 33, who garnered 8,307 votes to topple his opponent, incumbent Quah Keng Hooi, 55, who secured 5,182 votes, said the new administration would halt the RM25bil project.

“We will keep our promises,” he told reporters at the Caring Society Complex.

Ong said he didn’t expect to do well against Quah.

“However, the results showed the people are unhappy with the government,” he said.

Ong said he would reconstruct Penang’s development in a more democratic manner.

“We will consult the people on projects.”

(From The Star Newspaper)

Market to react to elections outcome

By KATHY FONG and LOONG TSE MIN

........Investment analysts and fund managers polled by StarBiz generally concurred that the market would have a knee-jerk reaction to the unprecedented outcome of the general election, with the ruling party Barisan Nasional winning only a simple majority in parliament and losing control of four states.

The knee-jerk reaction was not a sign that the market did not welcome changes in political leaderships, they said.

Some pointed out that it could be a change for the better in terms of transparency and corporate governance when there were stronger opposition parties in the parliament.

“A powerful opposition is a positive development in the longer term, providing some checks and balances for trillion-ringgit government spending,” said Aberdeen Asset Management Sdn Bhd managing director Gerald Ambrose. “But in the shorter term, this would be bad for certain stocks that will see a lot of volatility.”

He stressed that Aberdeen would continue to hold on to its investments in Malaysia and would not change.

The main concern for the investing community is how the federal government will work with the new state governments on public projects that involve both parties.

“There is no map to guide us now because it has never happened in history before,” said MIMB Investment Bank head of equity research Pong Teng Siew.

With the opposition parties gaining control in Penang, Perak, Kedah and Selangor, uncertainties arise on the public contracts that are anticipated to roll out under the Ninth Malaysia Plan (9MP).

Also, there are worries on possible delays of projects that have already been awarded if the state governments decided to review them.

It may be a different ball game now for companies tendering for public jobs. Companies, which are perceived to have the capabilities to secure large-scale projects, may not be in an advantageous position as before.

“It is important to note that the Malaysian states control land matters so construction and property companies may be affected in states like Selangor and Penang,” said KSC Capital director of research Choong Khuat Hock.

Choong said construction companies involved in the double-tracking railway project and property companies like SP Setia Bhd, Equine Capital Bhd and E&O Properties Bhd might be affected if there were delays in terms of getting approvals from the state governments.

Among projects that are currently being watched are the double-tracking railway, second Penang bridge, Penang Global City Centre, and Selangor-Pahang interstate water project.

Nonetheless, some analysts said, many of the projects were under the federal government; thus they might not be affected.............

(From The Star Newspaper)

PGCC project may be halted

PENANG Global City Centre (PGCC) may not to take off since the opposition is forming the state government.

PKR’s candidate for Kebun Bunga Jason Ong Khan Lee, 33, who garnered 8,307 votes to topple his opponent, incumbent Quah Keng Hooi, 55, who secured 5,182 votes, said the new administration would halt the RM25bil project.

“We will keep our promises,” he told reporters at the Caring Society Complex.

Ong said he didn’t expect to do well against Quah.

“However, the results showed the people are unhappy with the government,” he said.

Ong said he would reconstruct Penang’s development in a more democratic manner.

“We will consult the people on projects.”

(From The Star Newspaper)


yeah as xpected....thx to my dear penang's frnds....n wats next? penang sentral? the 2nd bridge? monorail? sad news......:ohno::ohno::ohno::ohno::ohno:

oh my god..

yeah as xpected....thx to my dear penang's frnds....n wats next? penang sentral? the 2nd bridge? monorail? sad news......:ohno::ohno::ohno::ohno::ohno:

The DAP clearly wants the second Penang bridge, as mentioned in few reports....and they did not also object the monorail project according to news....only the way it is implemented is in question...

http://penangwatch.net/index.php?q=node/1039
http://www.dapmalaysia.org/english/2006/dec06/bul/bul3176.htm

delete

Kerajaan baru Kedah haramkan hiburan negatif
Oleh Khairul Anuar Abdul Samad dan Wan Faizal Ismayatim

KOTA BHARU: Kerajaan baru Pas di Kedah akan mengharamkan semua jenis hiburan yang memberikan kesan negatif kepada rakyat, termasuk di Langkawi.

Tindakan yang kini dilaksanakan di Kerajaan Pas Kelantan sejak sejak 18 tahun lalu turut membabitkan pengharaman judi dan riba.

Presiden Pas, Datuk Seri Abdul Hadi Awang, bagaimanapun berkata larangan itu akan dilaksanakan selepas berbincang dengan rakan parti bukan Islam di negeri itu.

"Kita tanya dulu rakan bukan Islam, apa yang dibenarkan agama mereka. Kita tak ganggu hak mereka, kebebasan beribadat, beragama dan amalan harian yang dibenarkan agama mereka walaupun diharamkan Islam.

“Apa yang diharamkan Islam, orang Islam tak boleh pergi, sekatan akan dibuat,” katanya selepas mempengerusikan Mesyuarat Pas Pusat, di sini, semalam.

Hadir sama, Timbalan Presiden Pas, Nasharuddin Mat Isa dan Setiausaha Agungnya, Datuk Kamarudin Jaffar.

Abdul Hadi berkata, beliau berkata, pelaksanaan itu dilakukan di Kedah memandangkan Pas mengetuai Kerajaan Kedah berdasarkan majoriti besar dimilikinya, di samping kerjasama dengan Parti Keadilan Rakyat (PKR).

"Oleh kerana di Kedah, Pas mengetuai kerajaan, kita mencadangkan dua Exco bukan Islam diberi tempat kerana mereka memberi kesan besar untuk kita membentuk kerajaan Kedah," katanya.

Mengenai pelaksanaan kerajaan Islam di Kedah seperti di Kelantan, Abdul Hadi berkata, tiada sebab rakyat menolak pemerintahan berorientasikan Islam kerana China turut mengamalkan dasar komunis yang bukan berasal dari negara terbabit.

"Di Kedah, kita akan menyambung kejayaan dicatatkan Kelantan serta apa yang disebut dalam manifesto, termasuk prinsip negara berkebajikan yang akan dilaksana mengikut kuasa kerajaan negeri yang ada pada kita," katanya.

Ditanya adakah Pas melaksanakan hudud di negeri yang dimenanginya, beliau berkata, ia bergantung kepada penguasaan parti itu dalam Dewan Negeri di samping pertindihan undang-undang negeri dengan Pusat.

Beliau berkata, pembangunan rancangan koridor yang dirancang Kerajaan Pusat sebelum ini membabitkan Kedah, Perak dan Pulau Pinang akan dikaji dari aspek dasar pelaksanaannya sebelum sebarang kerjasama diberikan.

"Perjanjian yang memberi kesan positif sebelum ini yang dimeterai Kerajaan Pusat dengan kerajaan negeri akan diteruskan. Ketika mengambil alih Kelantan dulu, kita tidak pernah buang apa yang positif untuk rakyat.

"Tetapi, kita akan melihat balik dasarnya. Adakah ada unsur rasuah, nepotisme dan kronisme? Selain itu, kita akan lihat adakah ia memberi kepada rakyat keseluruhannya atau golongan tertentu saja," katanya.

Having a mixed feelings coz at SSC we all like projects projects

since many projects might be halted.. it is sad ... at the same time perhaps it is for the good sake of the country because dodgy contracts given out to some BN cronies could be terminated

yeah as xpected....thx to my dear penang's frnds....n wats next? penang sentral? the 2nd bridge? monorail? sad news......:ohno::ohno::ohno::ohno::ohno:

The DAP clearly wants the second Penang bridge, as mentioned in few reports....and they did not also object the monorail project according to news....only the way it is implemented is in question...

http://penangwatch.net/index.php?q=node/1039
http://www.dapmalaysia.org/english/2006/dec06/bul/bul3176.htm

they would not be built even if BN had won. so, no difference even if DAP cancels them.

i think DAP wanted the PORR too but a more extensive one that would cover the southern part of the island as well... read that somewhere sometime ago:D

^^exactly......even BN still own Penang....I seriously doubt the project will be implemented within these 4 years anyway....especially PGCC/Monorail/PORR....

Another case, the Butterworth temporary bus terminal, how come it took so long to be construction even though the previous one was destroyed in fire in 2001?

owh, i just realised, we only got Penang Bridge and Jelutong Expressway when BN was in power...others are talks only, even Penang Second Bridge took so long to start and restart and there's so many confusing news from The Star. Under construction or not, we dont know....

then, MRCB will stop building Penang Sentral. The temporary bus station will be the new penang sentral. Thanks to BN and cronies. They are punishing. I hope DAP will launch derma kilat to fund the Penang Sentral construction...i wont mind contributing some...

PGCC project may be halted

Ong said he would reconstruct Penang’s development in a more democratic manner.

“We will consult the people on projects.”

(From The Star Newspaper)


Personally, I don't think that is the right way to govern a state or a country. No doubt that consulting the people on projects is a good thing, but it would create lack of efficiency on the government part. More beauracracy. Almost certain that most of the projects would take longer time to be completed. And for a developing country like Malaysia, that doesn't sound good.

democratic way for construction projects? maybe like OZ model where in adelaide it took years of reports and case studies to extend a stupid tram line by mere metres. The replacement of the old wooden trams also took decades of reports and case studies :lol:.

democratic way for construction projects? maybe like OZ model where in adelaide it took years of reports and case studies to extend a stupid tram line by mere metres. The replacement of the old wooden trams also took decades of reports and case studies :lol:.

Yes, exactly my point. And Australia could afford to do that because it is already a very well developed state. Most all the infrastructure are already in place.

democratic or not it took years even for BN Koh tsu koon government to approve projects. And another years to get it started, so there's no real difference.

well, as DAP said, they will 'consult' with the people. and if penangites are really 'people', then they will know what's the best development for their state....or else if penangites are 'jungle-living' things, then....what to do? :dunno:

I think some of us are missing the point.
It's not always about having the biggest this and the biggest that, which may be achieved at the expense of the local people's interest
The new govt seriously needs to weed out corruption, inefficiency and create a more conducive business environment for real investors (not just for the cronies)- that way, development can speed up organically and everybody who puts in his or her effort wins

I think some of us are missing the point.
It's not always about having the biggest this and the biggest that, which may be achieved at the expense of the local people's interest
The new govt seriously needs to weed out corruption, inefficiency and create a more conducive business environment for real investors (not just for the cronies)- that way, development can speed up organically and everybody who puts in his or her effort wins

Yea, it's not like Penang is underdeveloped or what. We certainly need the second bridge but the PGCC is questionable? Penang is already so congested but there is still no solution to it. I don't see the need for PGCC eventhough i love the rendering of the 2 towers very much. I prefer a better quality of life.

yes it is nice to have these mega projects but they need to be done carefully and with respect to the local environment. most importantly are these projects viable or will they end up as white elephants? i'm pretty sure if the new govt can get things in order, penang will see a lot of interesting new developments soon. after all it has the ingredients in place - just not the right team to manage it perhaps

if you look at a broader pictures around the world when British Labour replaces Conservative, Republican took over Democrates, Turkish AKP and most recent the new Australian Labour rules the new government, do they simply scrap all projects initiated by previous government?....NO, rite?

so, worry for what?

sorry, i realized that there is really no point.

if you look at a broader pictures around the world when British Labour replaces Conservative, Republican took over Democrates, Turkish AKP and most recent the new Australian Labour rules the new government, do they simply scrap all projects initiated by previous government?....NO, rite?

so, worry for what?

well, things work differently in Malaysia. We've seen how the benevolent gahmen starved PAS ruled states out of funds and development. But I like to see the gahmen do that to 5 states now and KL...:lol:

hah, you think BN dares to 'bully' those 5 states as what they did to kelantan...?try lah kalau nak mati :lol:

IJM: Poll results may delay projects
Published: 2008/03/10


IJM has a RM6 billion order book, with 40 per cent of the projects booked overseas, says its chief executive


SOME construction projects could be delayed after the ruling coalition’s unexpectedly poor showing at weekend elections, builder IJM Corp said yesterday.

The ruling Barisan Nasional coalition suffered its heaviest election setback in the 50 years since independence, sparking worries that government policy could change and some building jobs be shelved.

Stocks of construction firms such as Malaysian Resources Corp, Gamuda and UEM World closed between 17 per cent and 34 per cent lower yesterday.

IJM shares lost 16 per cent to RM5.85.

“There could be at worst, at least some delays, in the way the job would be implemented, because you will realise there are five state governments which are now in opposition territory,” chief executive Krishnan Tan said when asked how the election result could affect government building programmes.

“If you look at these people coming into power, most of them have got no administrative experience. So this is a learning curve, and in that context you could have a little bit of delay in them taking off.”

He added: “As far as the federal government is still in control of the federal parliament, and a large proportion of government spending is actually federal spending, one would expect the major programmes will continue to take place.”

The construction sector has been expected to be a key growth driver for the Malaysian economy after the government promised to spend billions of dollars to build energy, tourism and farming hubs throughout the country.

IJM, about one-fifth owned by reclusive local tycoon Syed Mokhtar Al-Bukhary, is one of several Malaysian builders that have aggressively chased infrastructure jobs overseas after the government a few years back temporarily halted spending on big projects to cut its deficit.

ORDER BOOK

Tan said IJM has a RM6 billion (US$1.87 billion) order book, with 40 per cent of the projects booked overseas.

“We now have double the order book we have ever seen before,” Tan said, adding the order book could see the company through the next two to three years.

He said he saw a steady flow of work in India, where rail, port and highway projects were attractive, and in the Middle East, where housing projects predominate, despite margin erosion.

“We feel that these markets are going to be the major markets of this new century, so I think we would like to be there when the growth comes in,” Tan said.

IJM shares have dropped 30 per cent over the last 12 months, valuing the company at below US$1.6 billion. Analysts expect it to achieve RM381 million (US$119 million) in net profit for the financial year to March 2008, Reuters Estimates show.

“Overall operating profits have been pretty good in the last quarter,” Tan said, but declined to disclose a figure. “Going forward we should see reasonably good operations.”

IJM reported a tripling in net profit to RM133.5 million (US$42 million) for the quarter to December 31, with its plantations unit benefiting from a surge in crude palm oil prices.

“Based on current acreage, we can have 10 per cent output growth each year for the next three years,” Tan said, adding that IJM now owned 30,000 hectares of plantations in Indonesia, and planned to add another 10,000 over the next five years. - Reuters

Large projects to come under scrutiny
by Jose Barrock
Email us your feedback at fd@bizedge.com


KUALA LUMPUR: Following the fall of Penang, Perak, Kedah and Selangor to opposition parties, several large projects in those states are expected to come under scrutiny.

The attention will particularly be on the high-profile Penang Global City Centre (PGCC) project that the Democratic Action Party (DAP) had stated it would scrap should they come to power. The PGCC, promoted by Equine Capital Bhd, is a RM25 billion development on the turf club in the island. The mandate to develop the project is privately held by Abad Naluri, which Equine that is helmed by Datuk Patrick Lim, has a 25% stake.

Another mega-project that will come under review is the RM177 billion Northern Corridor Economic Region (NCER) project, which will involve the states of Penang, Kedah, Northern Perak and Perlis. Of the four only Perlis is still under the rule of Barisan Nasional.

Already PAS president Datuk Seri Hadi Awang said yesterday that they would seek to review the project together with the governments of Penang and Perak.

Sime Darby Bhd, Malaysia’s biggest listed company, is primarily the promoter of NCER and the company that drew up a masterplan to develop the four states. Part of the plan is the construction of a monorail in Penang island, where a letter of intent has already been issued to Malaysian Resources Corporation Bhd (MRCB).

MRCB has teamed up with Scomi Group Bhd and Penang Port Sdn Bhd to build the RM1 billion project. So far, the companies have only been doing the ground work and not initiated actual construction.

According to officials, the more controversial projects such as the PGCC and the Penang Outer Ring Road (PORR) may be scrapped, considering that these were highly objected by the people.

‘But the state will want the Federal funded projects such as the monorail. However, it is left to be seen if the Federal government will spend in Penang considering that they no longer control the state,” said an official.
Perhaps MIMB’s head of equity research Pong Teng Siew best summed it up: “No one knows what will happen, we are treading in un-chartered territory. There is a lot of guesswork involved now.”

TA Securities head of research Kaladher Govindan says that some of the projects may be scaled down, but not scrapped. “The larger projects will have to go ahead or it will look bad on the Federal Government,” he said.

Scomi, especially will come under the spotlight, as it is 34.5% controlled by two privately held companies, On Stream Marine Sdn Bhd and Kaspadu Sdn Bhd which are the vehicles of Datuk Kamaluddin Abdullah, the son of Premier Datuk Seri Abdullah Ahmad Badawi.

The RM1.1 billion Penang Outer Ring Road (PORR), which involves the construction of a 17-kilometre dual lane highway, linking Tanjung Bungah to the Penang Bridge is another project that has met with strong opposition from the people and DAP. Tenders are believed to have been called for the PORR project but there has been no news of the winning bid as yet.

In Selangor, the RM3.1 billion West Coast Expressway which was mooted a decade ago but has yet to be constructed may also be evaluated. The Selangor government is now under a coalition led by Parti Keadilan Rakyat.

thanks god johor still under under BN.....

Guys...I guess u know that Zakaria Mad Deros who built that Klang palace passed away after a heart attack...is it because of the election results? I guess he was in BIG trouble now that Mr. Botox is booted out of Selangor.

^^ now, he's dealing with God on what he did to the rakyat...hah, he deserves that

Who knows if the oppo won one or two more states and a certain constituency in Johor..Altantuya murderer will also die of heart attack :lol:.

how about altantuya sleeping partner?

well, as DAP said, they will 'consult' with the people. and if penangites are really 'people', then they will know what's the best development for their state....or else if penangites are 'jungle-living' things, then....what to do? :dunno:

Penang people are "people"?
I thought only you and your cronies, Mr Stupid Hyper are not human in these threads. :lol:

Foreign investors may wait and see

PETALING JAYA: Foreign investors may take a wait and see approach following the dismal performance of the ruling coalition Barisan Nasional in the 12th general election, until the state and federal governments are well established, said local property consultants. In the polls, Selangor, Penang, Kedah and Perak fell to the opposition.

However, they said investments in the property sector and in other sectors would improve in the long run if there are signs of better corporate governance and transparency in doing business here.

Zerin Properties CEO Previndran Singhe expects an overall positive impact as real estate is a long-term investment.

"The outcome of the elections proved that the country is democratic and its citizens, politically matured. I do not foresee any negative affect on foreign investments, as investors will notice that
Malaysia is democratic and practises good corporate governance," he said.

“The public should be made to understand that with a simple majority, the federal government can continue to implement its policies and amend legislations, except the constitution.” However, Previndran added that certain projects could be affected in terms of timing, as they may require state approvals.

City Valuers & Consultants Sdn Bhd general manager CY Lim also expects the election results to have a general positive impact on the property sector. He said foreign investments would continue to remain positive, as investors would expect a more transparent administration.

“We also hope that the new state governments will clean up red tape and delays at the land office in Selangor,” said Lim.

Real Estate and Housing Developers Association (Rehda) president Ng Seing Liong said the dip in the Kuala Lumpur Composite Index (KLCI) on Monday was inevitable as people were shocked at the unexpected outcome of the election. The KLCI took a dive to close 9.55% or 123.11 points lower, to 1,173.22 on Monday.

“We do not expect much changes in policies as the federal government is intact but we foresee that whatever changes there may be, would be for the better,” said Ng.

He hopes that Selangor, now under a coalition led by Parti Keadilan Rakyat (PKR), will be more proactive in creating a conducive business environment including implementing development-friendly policies.

"There will be heightened expectations on both incumbents and newcomers to improve the nation's competitiveness by enhancing the delivery system and efficiency, and the efforts will benefit the economy and image of Malaysia as an investment destination for foreign investors," said Ng.

He added that the local governments should not forget their social responsibility and that building affordable houses for the hardcore poor irrespective of race is essential.

Commenting on whether the economic development corridors such as the Northern Corridor Economic Region (NCER) would be affected, Ng said that while the development corridors may be temporarily affected, he foresees medium and long-term positive effect.

By theSun (by Rosalynn Poh)

No signs of delay in mega projects
Published: 2008/03/14



NEW Penang Chief Minister Lim Guan Eng does not expect any delays in the implementation of approved mega projects in the state that come under the purview of the federal government.

Projects such as the Second Penang Bridge, the monorail project and Penang Outer Ring Road are commitments made to the people by the federal government and he did not anticipate any hitches.

"We also hope that the government will accede to the wishes of the people to fund the Second Penang Bridge project using Petronas funds," he said during a media briefing at his office in Komtar here.

Lims hopes, however, could face a setback as Penang Umno yesterday said it would recommend that the federal government stop the implementation of all proposed mega projects, including those planned under the Northern Corridor Economic Region, the Penang Sentral project, the Rapid- Penang bus service and others.

State Umno secretary Datuk Azhar Ibrahim said the previous Gerakan-led state government had worked together with the federal government to bring all sorts of development to Penang.

"Since the people have clearly rejected development and made their choice for a change, we will recommend to the federal government that it should cancel all such projects.

"Don't blame us for this," he said after the first state Umno liaison committee meeting following the election.

To a question on the implications of such a decision to the people, he said: "The people have chosen and they wanted a new leadership."

Later, Penang Port Sdn Bhd managing director Datuk Ahmad Hajar said he also planned to talk to the federal government about the ferry service.

"I don't see any reason why the company should bear further losses from the ferry service. Our losses are about RM14 million a year," he said.

"I am giving the federal government three options to stop the ferry service, to allow a fare increase or to hand over the running of the service to the new state government."

The 24km Second Penang Bridge, which is expected to be completed by 2011, will link Batu Kawan on the mainland with Batu Maung on the island.

China is providing Malaysia a US$800 million (RM2.5 billion) loan for this, the largest amount offered by the country for a single project in a foreign country.

UEM Construction Sdn Bhd has named Fortune 500 company China Harbour Engineering Company Ltd (CHEC) as its main contractor for the project.

A consortium named CHEC-UEMC has been formed for this joint venture, in which CHEC holds a 51 per cent stake.

The chief minister had also cautioned that local projects, such as the sea-front integrated Bayan Mutiara development, are likely to come under scrutiny if funds from the state coffers were involved.

He said the state government hoped to attract more value-added investments, which would provide quality and high paying jobs.

Penang, he said, should move away from investments that focused on labour-intensive or low wage operations.

Lim is due to meet representatives of the Federation of Malaysian Manufacturers (northern region) today.

Asked about the states future investment climate, Lim said it would hinge on global trends.

"There is a danger of the United States slipping into a recession. If that happens, we cannot escape its negative impact."