Malaysia will honour KL-Singapore HSR obligations following project s cancellation: Minister Toggle share menu
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The concept design for Bandar Malaysia station along the KL-Singapore HSR. (Photo: MyHSR)
01 Jan 2021 03:59PM (Updated:
01 Jan 2021 04:00PM) Share this content
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KUALA LUMPUR: Malaysia will honour its obligations under the Bilateral Agreement for the cancelled High-Speed Rail (HSR) project, Minister in the Prime Minister s Department Mustapa Mohamed said on Friday (Jan 1).
The Singapore and Malaysian governments had on Friday announced the termination of the HSR project following the lapse of their agreement on Dec 31, 2020.
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“By virtue of the Bilateral Agreement and previously agreed terms, Malaysia will honour its obligations under the Bilateral Agreement. Both countries will initiate the necessary to determine the amount of compensation.”
KUALA LUMPUR: AmInvestment Research has increased the earnings forecast for Econpile and target price by one sen to 18 sen after it secured a US$85.7mil (RM347.6mil) contract in Cambodia.
Econpile bagged a piling and substructure work subcontract for the integrated entertainment complex in Phnom Penh from MCC International Incorporation Ltd. The construction period is 30 months.
The latest job is the first major contract Econpile has bagged in FY21F, boosting its outstanding order book to RM1bil.
In its research report on Wednesday, AmInvest Research raised its FY21–23F net profit forecasts by 6%, 9% and 10% respectively.
AmInvest Research also revised up its fair value for Econpile by 6% to 18 sen from 17 sen based on eight times revised fully diluted CY21F EPS of 2.2 sen.