KL Update 2009
2009 news and happenings around Kuala Lumpur. Do check in often to get the latest news, or better yet subscribe to the RSS feeds by clicking on the RSS orange button on the bottom left.
Articles on this page:
- Big plans for KL's tourist spots
- $14B Water Infrastructure Upgrade: Nationalizing Water in a Malaysian State
- CNY Open House On 7 Feb
Big plans for KL's tourist spots
By PRIYA MENON
NEW roads and a walkway connecting major tourist spots in Kuala Lumpur will be ready soon. Federal Territories Minister Datuk Seri Zulhasnan Rafique said that plans to build roads connecting Jalan Chow Kit, Jalan Dewan Sultan Sulaiman, Jalan Tun Razak and Jalan Tuanku Abdul Rahman are under way. "Out of the three phases, the first is already complete and this is the road linking Jalan Dewan Sultan Sulaiman to Jalan Tuanku Abdul Rahman. The cost of this project is RM14mil," Zulhasnan said.
The next phase is to build a road from Jalan Raja Abdullah to Jalan Tun Razak at the cost of RM40mil and lastly a walkway connecting Dataran Merdeka, Jalan Tuanku Abdul Rahman and Chow Kit with an estimated cost of RM8.6 mil. "We are now at the design stage and we are looking for the right company to award the tender to," he added. The new projects are part of the Federal Territories Ministry’s plans to boost the image of Chow Kit. Zulhasnan announced these plans at the launch of the "Program Gerakan Tumpuan (PGT)" in Chow Kit recently. The programme is designed to deter crime, drug deals, prostitution, illegal immigrants and unlicensed vendors.
In the past, PGT was carried out in four different areas beginning with San Peng, Taman Sri Sentosa in Old Klang Road, Kampung Kerinchi as well as Semarak Flats in Setiawangsa. "It is a year-long programme and we are happy with the results in the first four places," he added. The local market which draws local and foreign crowds may be relocated to a better spot to ensure that vendors and shoppers alike can benefit from it. As for safety issues, the Kuala Lumpur City Hall (DBKL) along with 21 government agencies, including the Royal Malaysian Police, National Anti Drug Agency, Rela as well as the Fire Department will join forces to clean up Chow Kit. "We have to work as a group because the DBKL does not have the power to carry out different tasks," he said.
The deputy OCPD of Dang Wangi Superin-tendent Sulaiman Salleh said that the crime rate in Chow Kit had decreased since last year. Zulhasnan said Chow Kit, like other tourist spots, should reflect Kuala Lumpur’s holistic development plans. "All these plans are to ensure that KL becomes sustainable, liveable and a vibrant city," he said.
Go to the top of KL Update 09 page.
$14B Water Infrastructure Upgrade: Nationalizing Water in a Malaysian State
Jan.23, 2009 Bloomberg
Malaysia's Selangor state plans to complete taking over the assets and operation of water companies including Puncak Niaga Holdings Bhd. in March in a bid to revamp the industry and prevent water shortages within five years. The country's richest state, through its Kumpulan Darul Ehsan Bhd. unit, will buy all the region's water assets, including Syarikat Pengeluar Air Selangor Sdn., partly owned by Gamuda Bhd., Chief Minister Khalid Ibrahim, 62, said in an interview at his office in Shah Alam, near Kuala Lumpur.
"It is high time for the water industry in Selangor to be reorganized," said Khalid, who became chief minister in March. Selangor may face water shortages by 2014 unless it restructures the "inefficient, fragmented" industry, he said. The Asian nation needs to spend as much as 50 billion ringgit ($14 billion) over the next three decades to upgrade aging infrastructure and improve services, according to the government. Malaysian water companies are too indebted to spend money to improve the quality of their services, Energy, Water and Communications Minister Shaziman Abu Mansor said on Dec. 16.
Asset Transfer
Once the acquisitions are completed, Kumpulan Darul will transfer the assets to the federal government at a price covering the cost of taking over the water concessions, Khalid said. Pengurusan Aset Air Bhd., the government-owned company that will hold the assets, will lease them back to Kumpulan Darul, which as holder of the concessions, will be the state's sole water service provider. Pengurusan Aset Air plans to sell bonds to fund the program. "The nationalization could make Kumpulan Perangsang Selangor Bhd. the biggest listed water operator in the country," said James Ratnam, an analyst at TA Securities Holdings Bhd. in Kuala Lumpur. Kumpulan Perangsang, the listed unit of Kumpulan Darul Ehsan, will likely be used to spearhead the takeovers, he said.
Under the existing agreements, water operators are allowed to raise rates periodically; the percentage increase scheduled for April is about 37 percent, Khalid said. The government would be able to avoid increasing water prices by taking over the concession and restructuring the tariff formula, he said.
Replacing Pipes
Khalid said once the reorganization is completed, he hopes to upgrade the system and replace the aging water pipes to reduce leakage from 30 percent to 15 percent. Assuming the state government buys Puncak Niaga's assets at their book value, the shares would be worth 3.30 ringgit a share, based on its net asset value as of Sept. 30, according to analysts Yew Chee Yoon and Liew Mee Kien at Kim Eng Securities. Puncak fell 1.2 percent to 2.41 ringgit at 10:12 a.m. local time in Kuala Lumpur trading, while Gamuda declined 1.6 percent to 1.91 ringgit. Kumpulan Perangsang fell 0.7 percent to 1.34 ringgit. The Kuala Lumpur Composite Index dropped 1 percent to 870.47 today. Khalid said he expects to start negotiations with the water companies in February, and aims to conclude the agreement before the end of March.
"It will be a challenge to conclude everything in March," said Ratnam, who recommends a "buy" on Puncak shares. Getting the concession companies to agree on the "pricing would be difficult." Selangor's water assets are worth 10 to 15 times the 1.21 billion ringgit the federal government will spend to take over operations in Negeri Sembilan, he said. The state government's valuation will be based on how much is needed to compensate operators for the early termination of their contracts, taking into account the value of the assets, the debt, and how much has been invested, Khalid said, declining to disclose the figure.
Go to the top of KL Update Jan09 page.
CNY Open House On 7 Feb
MySinchew 2009.01.23
KUALA LUMPUR: The national - level Malaysia Chinese New Year Open House will be held on 7 Feb at the Pavilion Bukit Bintang here. Prime Minister Datuk Seri Abdullah Ahmad will greet visitors at the gathering which is expected to be attended by about 50,000 people and is being organised by the Ministry of Unity, Culture, Arts and Heritage. According to a statement by the ministry, the modern shopping centre was chosen as it was widely visited by city folks and tourists and had good public transport facilities which visitors were urged to use to avoid traffic congestion.
Performances of lion dances, drum-beating, stilt walking and calligraphy will be held beginning at 5.30pm while the main event will be from 8.30pm till 10.30pm followed by the people's performances till midnight. The event will be in the form of a street festival with the theme 'Unity Though Festivity'. MCA president Datuk Seri Ong Tee Keat; Minister of Unity, Culture, Arts and Heritage Datuk Seri Mohd Shafie Apdal; MIC president Datuk Seri S. Samy Vellu; Cabinet ministers and national political leaders will attend the celebration. (Bernama)
Go to the top of KL Update 09 page
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