Latest news with #BatuKawan
Malay Mail
3 days ago
- Business
- Malay Mail
Soil depression detected at Jalan Batu Kawan in Penang, authorities close off affected section, begin urgent repairs, says state exco
BATU KAWAN, June 6 — A soil depression was detected yesterday at P149 Jalan Batu Kawan, specifically at the junction connecting the road to a newly completed bridge, according to Penang Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari. He said the exact cause of the incident is still under investigation by the Penang Development Corporation (PDC) and the project contractor. However, immediate remedial measures were taken by PDC upon receiving public complaints. 'PDC promptly carried out premix patching to raise the road level and installed warning signs to prevent any untoward incidents involving road users,' he told Bernama when contacted. He said the contractor will proceed with excavation work to determine the root cause of the soil depression before implementing permanent repair measures, which will involve the use of additional materials such as geotextile, basal reinforcement, and other necessary strengthening methods. 'These actions are essential to ensure long-term road stability and to prevent future soil depression. All repair costs would be borne by the contractor because the project is still within the defects liability period (DLP,' he said. Meanwhile, Assistant Director of the Fire and Rescue Operations Division of the Malaysian Fire and Rescue Department (JBPM) in Penang, John Sagun Francis, said a team of seven members from the Batu Kawan Fire and Rescue Station (BBP) was sent to the location after the department received a call regarding the soil depression. On arrival, the team found that a soil depression had occurred, but there were no victims involved. Immediate action was taken to close off the affected area and ensure no vehicles were allowed on the compromised section of the road,' he said. The incident gained public attention yesterday after a social media post went viral, showing images of the soil depression along the main road near the Batu Kawan bridge. The post also highlighted visible cracks on the concrete structure dividing the road. Firefighters were seen at the location, placing safety cones and taking precautionary measures to secure the area for road users. — Bernama
Free Malaysia Today
28-05-2025
- Health
- Free Malaysia Today
Woman claims police dismissed her report about alleged drugging
A woman claims a police officer at the Batu Kawan police station refused to take her report about allegedly being drugged by her workplace supervisor. SEBERANG PERAI : A 24-year-old woman has lodged a police report against an officer at the Batu Kawan police station, claiming he refused to register her complaint about allegedly being drugged by her workplace supervisor. The woman said she felt disoriented and faint after a supervisor gave her an unknown substance on May 21. He offered to drive her home but delayed the trip. She said she then contacted her friend, who immediately called for an ambulance when she reached the lobby of her condominium. At the hospital, a three-hour examination and urine test returned positive for narcotics. She claims she has never used drugs. When she reported the incident to the police, an officer questioned her motives and expressed suspicion about her relationship with the supervisor. The officer allegedly warned her not to return to the workplace or the police station, threatening arrest over the positive drug result. 'I was told not to come back to (the workplace) or the police station about the matter because I could be arrested for the positive drug test,' she wrote in her report. She also alleged the officer intimidated her friend, asking if he had money to bail her out. The woman also feared the CCTV footage at her workplace may have been deleted and is dissatisfied that her statement wasn't formally recorded before the officer declared the case closed. She is now demanding a full investigation into both her supervisor's conduct and the police officer's handling of her complaint. When contacted by FMT, the police declined to comment on the case, only saying it is under investigation.
Free Malaysia Today
22-05-2025
- Business
- Free Malaysia Today
RM818mil bid for Batu Kawan land too costly with added conditions, says Chow
Chief minister Chow Kon Yeow said among the reasons the IJM-led consortium's proposal was nixed was the extra expenditure by PDC to fulfil the requests made. (Facebook pic) GEORGE TOWN : A consortium's RM818 million bid for state land in Batu Kawan dropped in value to just over RM500 million when several conditions requested were considered, Penang chief minister Chow Kon Yeow told the state assembly today. He was explaining why state agency Penang Development Corporation (PDC), which owns the Batu Kawan Industrial Park 2 land, had rejected a proposal by a consortium formed by IJP Properties and Aspen Vision. PDC previously claimed the consortium's proposal was rejected due to multiple reasons, but Chow today said that while the consortium had offered the highest price, it would have placed a financial burden on the state. 'They made an offer with a higher price, but if you were to minus the extra (conditions requested), it comes down to about RM500 million. About the same as the Umech offer,' he said, referring to Umech Construction Sdn Bhd. The below-market price land deal with Umech was dropped as it had bypassed an open tender process. The IJM-led consortium offered RM818 million for the land last December, but claimed its proposal was rejected without any opportunity for further negotiations. Chow said among the reasons the IJM-led consortium's proposal was nixed was the extra expenditure by PDC to fulfil the conditions requested, including RM150 million in infrastructure costs to ensure connectivity for the proposed project on the land. The consortium also suggested converting the land from leasehold to freehold, which would require state approval and involve a premium of RM144 million. Another request was to use nearby PDC land in Batu Kawan as a quarry, which Chow said carried an opportunity cost of RM25 million. The consortium also sought a first right of refusal for 500 acres of adjacent land, potentially limiting PDC's ability to develop it freely. Finally, it wanted the freedom to change company shareholding and transfer land without PDC's consent, Chow said. Lim Guan Eng (PH-Air Putih) argued that PDC should have kept the door open for negotiations, claiming that the consortium was robbed of a chance to clarify or revise its offer. 'This is a request for proposal (RFP) by open tender, not a closed tender. After the best offer is picked for the RFP by open tender, there will be discussions and negotiations, all part of the process,' Lim said. He cited the consortium's Dec 2, 2024 statement, which said that it had 'earnestly requested the opportunity to present and explain its submission, but this was not granted'. Lim also said the consortium had made it clear that the request for freehold status and other enhancements were optional and should not have been treated as conditions. PDC board has final say Chow, who is PDC chairman, replied that any major decisions must be approved by the corporation's board, and that all proposals must comply with good governance standards. 'If the terms go against that, we cannot accept it,' he said. However, he did not explain why PDC had refused further negotiations with the consortium. PDC is currently reviewing bids under a fresh tender exercise for the same plots of land. Chow said if no acceptable bids emerge, the agency may consider developing the land itself.
Yahoo
19-05-2025
- Business
- Yahoo
Those who invested in Batu Kawan Berhad (KLSE:BKAWAN) five years ago are up 64%
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the market average. And in our experience, buying the right stocks can give your wealth a significant boost. For example, long term Batu Kawan Berhad (KLSE:BKAWAN) shareholders have enjoyed a 36% share price rise over the last half decade, well in excess of the market return of around 14% (not including dividends). With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). Batu Kawan Berhad's earnings per share are down 0.7% per year, despite strong share price performance over five years. So it's hard to argue that the earnings per share are the best metric to judge the company, as it may not be optimized for profits at this point. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics. On the other hand, Batu Kawan Berhad's revenue is growing nicely, at a compound rate of 9.1% over the last five years. It's quite possible that management are prioritizing revenue growth over EPS growth at the moment. The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image). This free interactive report on Batu Kawan Berhad's balance sheet strength is a great place to start, if you want to investigate the stock further. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Batu Kawan Berhad's TSR for the last 5 years was 64%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments! The total return of 3.1% received by Batu Kawan Berhad shareholders over the last year isn't far from the market return of -3.5%. Longer term investors wouldn't be so upset, since they would have made 10%, each year, over five years. If the stock price has been impacted by changing sentiment, rather than deteriorating business conditions, it could spell opportunity. It's always interesting to track share price performance over the longer term. But to understand Batu Kawan Berhad better, we need to consider many other factors. For example, we've discovered 3 warning signs for Batu Kawan Berhad (2 don't sit too well with us!) that you should be aware of before investing here. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Malaysian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
