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Posts Tagged ‘HSR’

HSR: I was right wasn’t I?

In Infrastructure, Malaysia on 18/06/2018 at 11:04 am

Trumpets pls.

HSR “delayed” not “cancelled” according to Tun. (Btw, someone pls tell TKL this. He thinks still cancelled according to his TOC article.)

In Will we ever get letter cancelling HSR?

I wrote

The two DAP** ministers want to send a letter saying M’sia wants to have talks on a review of the project with a view to revising the costs and timetable. They hope that lower costs means S’pore will be amendable to a delay in the start date, and not ask for compensation.

**Remember that Lim Guan Eng and his pa came to brief our Harry when the DAP won Penang in 2008. More like “kowtow” said my UMNO inner circle connection when I told him what the present finance minister told an ISEAS seminar in 2008.

Now Tun (and his anti-PAP fans here) has had to swallow sperm what with

The proposed high-speed rail (HSR) project connecting Malaysia’s capital city to Singapore has not been cancelled but merely postponed, Malaysian Prime Minister Tun Dr Mahathir Mohamad said, softening his earlier intention to scrap the deal entirely.

In an interview with Japanese media published in the Asian Nikkei Review on Monday night (June 11), Dr Mahathir explained that the project was put on the backburner because of its exorbitant cost of RM110 billion (S$37 billion).

https://www.todayonline.com/world/kl-singapore-hsr-project-postponed-not-scrapped-says-dr-mahathir

And

Mr Khaw’s Malaysian counterpart Anthony Loke said on Tuesday a negotiating party consisting of the Finance, Economics Affairs, and Transport ministers will make a trip across the Causeway to iron out a deal concerning the HSR.

“As it was announced last week, we will still negotiate with Singapore. We, the Finance, Economic, and Transport ministers will go to Singapore and negotiate this deal,” Mr Loke said.

As it is alleged by UMNO (Or so I’m told) that DAP leaders have to burn incense before this graven image daily, our ministers sure have to pang chance.

 

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Wepco — Latest Incarnation

In Energy, Investments on 18/11/2009 at 6:12 am

China-based Brian Chang (he was born in South Africa) was in the 70s and 80s one of Singapore’s most famous entrepreneurs, building a major offshore marine business. He ran into a spot of bother and relocated to China where he rebuilt his fortune again and again in the offshore marine sector.

So in late 2007, when his son, Malcolm, took a 29.5% stake in very thinly traded and capitalised Wepco, there was speculation that the Changs would use Wepco to list some offshore marine assets. Nothing happened until Monday

Wepco announced that it iwas acquiring real estate firm HSR in a reverse takeover.  Patrick Liew and Kellie Lim, who own 100 per cent of HSR, will sell their entire stakeholding to Catalist-listed Wepco Ltd for S$40 million. Wepco will issue some 80 million consideration shares at a price of 50 cents per share.Mr Liew and Ms Lim will own 83%  of Wepco’s enlarged share capital.

Malcolm Chang bought into Wepco at around 60 cents, so he must be hoping that the new Wepco will attract investor interest.