Pak Lah’s son bids for Penang monorail project
Scomi Engineering Bids For Monorail Projects Worth Billions
KUALA LUMPUR, June 21 (Bernama) — Scomi Engineering Bhd has submitted bids worth billions of ringgit for monorail projects in Iran, Vietnam, Madinah and Penang, its senior vice president Hilmy Zaini Zainal said Thursday.
The company’s bid for the project in Iran is worth RM2.5 billion, in Vietnam it is RM1.2 billion, in Madinah US$500 million (US$1=RM3.44) and in Penang about RM1.2 billion.
“Basically these are the projects that we are actually waiting for quite a while. But we are ready to implement the projects,” Hilmy told reporters after the company’s annual general meeting here today.
He said Scomi Engineering, which is involved in energy and logictics engineering, had completed the feasibility, environmental impact and alignment studies for the monorail projects.
However, he said, the announcement on the bids would take a while as it involved various governments.
“The proposals have been given to the respective governments but no award yet. It will take time. There are many processes involved,” he said.
Scomi Engineering expects to know the outcome of the four bids in the next six to 12 months.
Hilmy also hoped that the result on the Penang monorail project would be announced by end of the year.
He said the potential project would be undertaken by its new wholly-owned subsidiary Mtrans Transportation Sdn Bhd.
Scomi Engineering now owns the entire stake in MTrans, an urban transit system provider, following the completion of its acquisition of the remaining nine percent stake in Mtrans for RM5.625 million from Azam Kirana (M) Sdn Bhd today.
Hilmy said Scomi Engineering was in the midst of completing its second generation monorail prototype.
The new monorail which is expected to to be completed by July will have enhanced performance, a new body system, composite body and will be also lighter and much cheaper, he said.
Millions of ringgit was involved in the research and developement for the new monorail, he added.
He said that Scomi Engineering was also planning to build two new monorail manufacturing plants.
For the financial year ended Dec 31, 2006, Scomi Engineering posted a pre-tax profit of RM41.09 million on the back of RM324 million in revenue.
— BERNAMA
