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									Biggest mega project: RM43b MRT
proposal

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For what is expected to be the biggest mega project of them all, the RM43 billion Mass
Rapid Transit proposal has received little prominent media publicity and most
Malaysians remain in the dark about it.

The ‘unsolicited proposal’ for a 180-200km partly underground railway network in Kuala
Lumpur by Gamuda Bhd and MMC Corp is now undergoing feasibility studies by two
government-appointed consultants, according to a report in The Star.

The actual project is expected to cost RM36 billion. Add land acquisition and rolling stock
cost and the tab reportedly could come up to a jaw-dropping RM43 billion. (What about
possible cost overruns?) That makes it the largest construction job under the Tenth Malaysia
Plan.

The Gamuda MD is reported in the Star as saying the commercial investment return (IR)
would be quite low though economically the IR would be quite high.

That might explain why the two firms are not interested in becoming the MRT operator. The
Edge (14 June 2010) suggested that government-owned Syarikat Prasarana Negara Bhd,
could end up with the tough job of actually owning and operating the system i.e. ‘holding the
baby’ for the public.

The two firms are mostly interested in the lucrative tunnelling work, which has been
estimated at RM14 billion, according to the Star report. The Edge had earlier estimated the
figure at RM10.8 billion. Either way, we are talking big money here.

Let’s look at who the major shareholders of Gamuda Bhd are as at 15 October 2009:

              Employees Provident Fund Board 10.09% (direct interest)
              Raja Dato’ Seri Eleena binti Raja Azlan Shah 7.43% (mostly deemed indirect
               interest through Generasi Setia)
              Generasi Setia (M) Sdn Bhd 7.42% (direct interest)
              Platinum Investment Management Limited 6.48% (direct interest)
              HSBC Holdings plc 5.37% (indirect interest) (who is behind this?)

The substantial shareholders of MMC Corp (which is the flagship company of Syed Mokhtar
Al-Bukhary) as at 25 February 2010 are:
              Amanahraya Trustees Berhad (Skim Amanah Saham Bumiputera) 18.43%
               (direct)
              Employees Provident Fund Board 8.11% (direct)
              Seaport Terminal (Johore) Sdn Bhd 51.76% (direct)
              Indra Cita Sdn Bhd 51.76% (indirect – deemed interest through Seaport
               Terminal)
              Tan Sri Dato’ Seri Syed Mokhtar Shah bin Syed Nor 51.76% (indirect –
               deemed interest through Indra City)

“He (Syed Mokthar) surfaced during the premiership of (Mahathir) and created waves, stayed
through (Badawi’s) term, albeit with less fanfare, and now he appears to be an important
corporate figure in Najib’s tenure,” the Edge quoted an unnamed Umno politician as saying.
Syed Mokthar’s Tradewinds recently gained control of Bernas, which has a monopoly of rice
distribution in the country, the weekly noted.

The weekly also made the following observations: In 2007, Gamuda and MMC were awarded
the northern portion of the rail double-tracking job for RM12.5 billion. In April, DRB-
Hicom, whose controlling shareholder is Syed Mokthar, reportedly received a letter of intent
from the government to manufacture and deliver a dozen variants of the Malaysian AV-8
armoured wheeled vehicle.

Back to the MRT: do we even have a comprehensive public transport master plan for the
Klang Valley? Has the public been adequately consulted? Have we really explored the full
potential of a more cost-effective bus rapid transit system?

Jose Barrock of The Edge wrote:

Like all large-scale projects, proper studies should be conducted, with the public at the centre
of the equation. While the details trickle in, the merits of the deal need to be properly
weighed, and the best proposal selected without resorting to other factors such as political
clout.

The bottom line is, cost have to be kept low to ensure these gargantuan projects are viable
and self-reliant in a minimum-case scenario. For starters, a proper tender should be held to
ensure the best value for money when tendering out jobs.

If costs skyrocket, ticket costs are likely to be nudged upwards. Transport projects such as
these should be rakyat-centric and not aim to be money-spinners.

Related posts:




                        Jakarta abandons monorail, focuses on BRT
                  X'mas comes early for Gamuda-MMC




                  After Proton, will KTM be next?

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Posted by Anil Netto at 2.10pm Tagged with: gamuda, Malaysia, Mass Rapid Transit, mmc,
MRT, tunnelling

 52 Responses to “Biggest mega project: RM43b MRT proposal”


   1.

        idrus hashim says:

        18 July 2010 at 9.49am

        enough is enough..sick

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   2.

        Flyer168 says:

        18 July 2010 at 10.36am
Another BLATANT Bolehland “Bankrupt the Nation” Exercise!

Just to share this…

History Of Mass Rapid Transit (MRT) And Light Rapid Transit (LRT) –
http://www.sgwiki.com/wiki/Brief_History_On_Singapore%27s_MRT_And_LRT_S
ystem

“The 1960s was an era of great economic changes for Singapore. The city’s leaders
were convinced of the need to support the economy with a reliable and efficient
transport system to support nation building.

To this end, the government commissioned a State and City Planning study in 1967 to
study the possibility of expanding the transport network.

Amongst others, the findings of the four-year study pointed to a need for a rail transit
system by 1992.

As a result, feasibility studies were carried out between 1972 and 1980 to examine the
possibility of building a rail network supported by a network of buses.

The rail system was to operate through the most densely- populated areas and this
resulted in the conception of the east-west and north-south lines.

To get on with work, a Provisional Mass Rapid Transit Authority was established in
July 1980.

Anindependent team from Harvard University was engaged to reinforce the initial
recommendations for a rail system supported by a bus network.

However, debate soon ensued as the team recommended that an all-bus network may
be more feasible.

To shed some light into the matter, a Comprehensive Traffic Study was conducted in
1981.

Matters were soon back on track as the study confirmed that the rail system was
crucial and an all-bus system would impose severe limitations on other road users.

1982 – The Work Began
In May 1982, the Government gave the go-ahead and work on the construction of the
MRT began.

The S$5 billion project was targeted to be completed in 1992.

The 67 km-long route would boast 42 stations, of which 27 would be above ground
and 15 under ground.

Contd…2
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3.

     Flyer168 says:

     18 July 2010 at 10.36am

     …2

     The north-south line was implemented first as more people need to be ferried across
     the busy Orchard corridor and the Central Business District.

     On 14 October 1983, the MRT Corporation was established and took over the roles
     and responsibilities of the former Provisional Mass Rapid Transit Authority.

     Thousands flocked to experience travelling on the MRT when its first section from
     Yio Chu Kang to Toa Payoh was opened on 7 November 1987.

     Prime Minister, Mr Lee Kuan Yew¸ Then officiated the launching of the system on 12
     March 1988.

     The remainder of the system was opened in stages and the final section was
     completed in July 1990, two years ahead of schedule…” Unquote.

     The Time Proven & Cost Effective Singapore MRT & LRT has been a good model to
     “LEARN” from just across the causeway…

     Do the Powers that be & their sidekicks realise the scale of a “Proper & Correct Cost
     Effective” deliberations, etc as to how LKY & his Government achieved their success
     !

     Just consider this, after “years” of “Transparent” Feasibility Studies, Debates, etc…

     “The S$5 billion project was targeted to be completed in 1992…

     Prime Minister, Mr Lee Kuan Yew¸ Then officiated the launching of the system on 12
     March 1988.

     …the final section was completed in July 1990, two years ahead of schedule…”

     You be the judge.
     Cheers.

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4.

     Pearl says:

     18 July 2010 at 7.55pm

     The Singaporean experience versus that of the Malaysian

     1. In the MRT / LRT project in Singapore, they employ talents regardless of the
     talents’ racial / religious background.

     In Malaysia, the one getting the contract (is often) from a certain race and (often)
     connected with the ruling party, UMNO.

     2. In Singapore, everything is planned ahead, and executed as if the timeframe being
     the worst case scenario. That is why the then projected completion date of 1992 was 2
     years longer than the actual implementation.

     In Malaysia, nothing is planned ahead, and (one of the main considerations of the)
     projects (seems to be) race.

     Timeframe / cost / quality be damned.

     3. In Singapore, no excuse is accepted. There is no but, no if, no nothing.

     In Malaysia, they will always tell you that Singapore is an island, a small island, so
     everything can be done very easily.

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5.

     wira says:
     18 July 2010 at 8.57pm

     I hope they don’t give out the contracts for the MRT carriages the same way the
     supply contracts are being fanned out for Penang Rapid where cronies (allegedly) got
     the contract to supply few buses each rendering many different models from various
     sources for the bus company and a nightmare for spare parts.

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6.

     amoker says:

     18 July 2010 at 11.43pm

     Welcome to Indons and Myammareses etc…. Do remember to vote BN for giving
     you job…

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7.

     The Hague says:

     19 July 2010 at 8.17am

     ENOUGH SAID!

     Majority dislike the way BN push thru this non-sensical $43 billion CRONY project.

     It’s time to vote BN OUT come 13th GE.

     Get friends, relatives,colleagues to be a VOTER.

     I have, have YOU?
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   8.

        Ahmad Syafiq says:

        22 July 2010 at 8.14am

        Wow, Gerakan K, K and Ong Eu Soon are pretty silent on this issue. Guys, did you
        notice that? None of them commented on this issue. What does that tell us?

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   9.

        Mun Mok says:

        14 May 2011 at 8.32pm

        i like your journalism. thanks for writing. mun mok

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