Penang LRT project still on track, MRT Corp says
The Penang Mutiara Light Rail Transit (LRT) project is on track, Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) assured.
MRT Corp explained that approval for advanced works, as required by Section 20A of the Town and Country Planning Act 1976, was only obtained on April 15.
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The Star
a day ago
- The Star
Econpile set for new job wins on Penang LRT catalyst
File: Artist impression of Penang LRT Mutiara Line. PETALING JAYA: Econpile Holdings Bhd , which has secured its first contract for the Penang light rail transit (LRT) Mutiara Line, is poised to win more jobs as the RM10bil project gains momentum, analysts say. On June 5, Econpile announced it was awarded a RM42.8mil bored piling sub-package spanning three stations – from East Jelutong to Gelugor – out of the total 21 stations. The works are scheduled to begin on Aug 1, 2025 and end on Oct 31, 2027. CGS International (CGSI) Research said the win validated its view that the Penang LRT is progressing as planned, with full-scale construction expected to begin in the fourth quarter of 2025 (4Q25). 'For the broader construction sector, we think this win validates our thesis that the Penang LRT Mutiara Line is progressing as planned and construction works should be in full swing in 4Q25. 'This is likely to benefit Gamuda Bhd , as we expect it to be contracted for more work for the Penang LRT, amounting to an additional RM3bil on top of its initial contract value of RM5bil,' it said. Other potential beneficiaries include Malayan Cement Bhd , HSS Engineers Bhd , IJM Corp Bhd and Sunway Construction Group Bhd . CGSI Research said Econpile's year-to-date new order wins now total RM333mil, with an order book of RM487mil as at June 2025. The group is aiming for RM400mil to RM450mil in new jobs for its financial year ending Dec 31, 2025 (FY25), in line with last year's performance. 'We expect gross profit margins for the Penang LRT bored piling contract to be about 10%-15%, higher than the recent piling projects for property development it won over the past one year,' it said, adding that Econpile's performance should improve in 4Q25. CGSI Research maintained its 'add' rating and 46 sen target price, citing Econpile's strong presence in infrastructure projects and the largest fleet of bored piles in Malaysia. Meanwhile, CIMB Securities Research said the sub-package forms part of the larger package for which the Gamuda-led SRS Consortium Sdn Bhd – comprising Gamuda (60%), Ideal Property Development Sdn Bhd (20%) and Loh Phoy Yen Holdings Sdn Bhd (20%) – is the principal civil works contractor. Mass Rapid Transit Corp Sdn Bhd is the project developer and asset owner of the Mutiara Line. 'Having secured the first major piling contract under the Penang LRT Mutiara line, the group is well-placed to bid for a larger piling-related job that is coming up,' CIMB Research said. It kept its 'buy' rating and 38 sen target price, pegging the stock at 19 times 2026 core earnings per share of 1.9 sen.
The Star
3 days ago
- The Star
Silicon island link by 2028
Building the future: The temporary steel bridge provides access for construction and infrastructure works on Silicon Island. — CHAN BOON KAI/The Star, Silicon Island Development Sdn Bhd GEORGE TOWN: A 380m-long coastal bridge connecting the southern coast of Penang island to the emerging Silicon Island is expected to be ready by the end of 2028. With four lanes in each direction, the bridge is designed to meet future transportation needs and support the development of the man-made island, which will house the proposed Mutiara Line Light Rail Transit (LRT) depot and Green Tech Park. The bridge is also a key component of the Pan Island Link 2A (PIL2A), a strategic initiative aimed at improving connectivity between Silicon Island and the Sultan Abdul Halim Mu'adzam Shah Bridge. Chief Minister Chow Kon Yeow, who disclosed this yesterday, said the contract for the bridge project had been awarded and construction will begin this month. He said phase one is targeted for completion by mid-2027 to support the opening of Silicon Island's first operational factory, with full commissioning expected at the end of the following year. 'In the meantime, a temporary steel bridge has been built to provide access for construction and infrastructure works on Silicon Island, which now spans 64.75ha of the intended 931ha. Phase One of the island with a total of 64.75ha reclaimed to date. — CHAN BOON KAI/The Star, Silicon Island Development Sdn Bhd 'It helps expedite the mobilisation of machinery and workers who used boats before this. This is a model development,' Chow said during a visit to the Silicon Island project site. The visit included a preview of the designated areas for the Mutiara Line LRT depot and Green Tech Park, which are gradually taking shape. Chow said work on the LRT project will begin once the Notice to Proceed is issued to SRS Consortium Sdn Bhd (SRS) in several weeks' time. 'Preliminary work, including soil testing and placement of infrastructure, are being carried out,' he added. It was reported that construction of the Mutiara Line LRT would begin in the fourth quarter of 2026. The 29.5km Mutiara Line, targeted for delivery in December 2031, will feature 21 strategically located stations to improve connectivity between the island and mainland. Chow also said a new community facility, Medan Selera Matang, was being built in Permatang Damar Laut overlooking Silicon Island. It will feature a village community management council hall, fishermen's one-stop service centre, food stalls, restaurants and storage sheds for fishermen. For the initial water supply needs of Silicon Island, a suction tank and pump house will be built. The total construction cost for the community facilities, pump house and suction tank is estimated at RM36mil.
New Straits Times
4 days ago
- New Straits Times
Penang begins major infrastructure push for Silicon Island
GEORGE TOWN: A 380-metre marine viaduct connecting the southern coast of Penang island to the emerging Silicon Island is expected to be opened to the public by December 2028. It will feature four lanes in each direction. The bridge will serve as a key component of the Pan Island Link 2A (PIL2A) – a strategic infrastructure initiative aimed at improving connectivity between Silicon Island and the Sultan Abdul Halim Mu'adzam Shah Bridge, while supporting Penang's long-term urban growth. Chief Minister Chow Kon Yeow said the contract for the bridge has been awarded to a company. "Construction is scheduled to begin this month, with the first phase targeted for completion by mid-2027 to support the opening of Silicon Island's first operational factory. "Final construction and full commissioning are expected to be completed by the end of 2028," he told newsmen after leading a delegation for a site visit via a temporary steel bridge to inspect progress on the Silicon Island, which now spans 160 acres (64.75 ha) here today. The bridge is built next to the proposed marine viaduct. Construction for the 378-metre bridge, which began in August 2024 and was completed in March this year, is meant to provide temporary access for construction and infrastructure works on Silicon Island. "This temporary bridge is an important connection to expedite reclamation works at Silicon Island. With the temporary bridge, it will expedite the mobilisation of machinery and workers compared with using boats before this," he added. The visit included a preview of the designated areas for the future Mutiara Line light rail transit (LRT) depot and Green Tech Park, both of which are gradually taking shape as part of the state's innovation-driven development plans. Chow said full swing work for the depot would begin once the Notice to Proceed has been issued to SRS Consortium Sdn Bhd (SRS) in a matter of weeks. Preliminary works, which include soil testing and placement of infrastructure, are being carried out. Chow said that while the project had faced challenges, they have been addressed systematically. "Any issues raised will be addressed promptly. It is a model development where many people came to visit to see how we overcome issues like the environment, fishermen's concerns and such," he said. During a visit to Penang in May 2023, Prime Minister Datuk Seri Anwar Ibrahim said that the federal government would allocate additional funding to help expedite the state's proposed Mutiara Line light rail transit (LRT) project. At the time, he also requested that the state government scale down the scope of the reclamation project. The Penang Silicon Island initiative is projected to generate a Gross Domestic Product (GDP) impact of RM1.1 trillion, attract total investments amounting to RM74.7 billion, and create some 220,000 job opportunities.
