Latest news with #RM2bil
The Star
5 days ago
- Business
- The Star
Move to streamline 12 million addresses nationwide
Addressing issues: Fahmi (right) and his deputy Teo Nie Ching at the Malaysia Address Conference in Kuala them are Principal Assistant State Secretary Maznah Mahat (left). — SAMUEL ONG/The Star KUALA LUMPUR: A unified National Address System (NAS) that will streamline more than 12 million addresses nationwide is set to be rolled out soon, a move aimed at tackling long-standing issues of inaccurate and inconsistent address data across the public and private sectors. Communications Minister Datuk Fahmi Fadzil said the significant reform, mooted by Prime Minister Datuk Seri Anwar Ibrahim, would resolve the widespread discrepancies in address information used by various agencies and organisations. 'The core focus of the NAS is to ensure that every address in Malaysia is identifiable and traceable through accurate means,' Fahmi said after launching the Malaysia Address Conference 2025 yesterday. He explained that the NAS will serve as a centralised and standardised database for both government agencies and businesses, enabling more efficient coordination, faster deliveries, and improved emergency response times. Currently, various agencies and businesses rely on different address databases, which often leads to inefficiencies and inaccuracies, he said. Fahmi added that the reform is projected to generate RM2bil in economic spillover and create more than 2,000 jobs over the next five years, particularly in sectors related to address management, based on analysis by the Malaysian Communications and Multimedia Commission. The system, he said, would not only improve day-to-day operations but also prove critical during disasters such as floods, where precise location data is vital for identifying affected areas. While centralising addresses may appear mundane, Fahmi stressed that the implications are far-reaching. 'When I first took office, I didn't think this was a pressing issue. But after multiple discussions, I discovered just how fragmented our address systems are. A single person or entity might have different addresses. 'Every address should belong to its rightful owner. The many agencies out there do not have standardised information, and this has led to significant issues in daily dealings, such as delays or failed deliveries,' he said. The government has spent about RM700mil to date on geospatial and navigation services to obtain location information outsourced from third parties.
The Star
5 days ago
- Business
- The Star
National Address System will boost economy and employment, says Fahmi
KUALA LUMPUR: The National Address System (NAS) initiative, which will centralise and streamline more than 12 million addresses nationwide, is expected to generate an economic spillover of RM2bil and create more than 2,000 job opportunities over the next five years. Communications Minister Datuk Fahmi Fadzil said this was indicated in an analysis by the Malaysian Communications and Multimedia Commission (MCMC) involving sectors related to addressing activities. He said complicated and inconsistent addresses will soon be a thing of the past when the addressing system, the brainchild of Prime Minister Datuk Seri Anwar Ibrahim, is rolled out. ALSO READ: Malaysia aims to launch National Address System in 2026, experts urge tech use to bridge gaps "The core focus of the NAS is to ensure that every address in Malaysia is identifiable and traceable through accurate means. "The system is built to be utilised by various government agencies and businesses, improving coordination, delivery and response times across the board," he said after launching the National Address Conference 2025 here on Thursday (July 17). Fahmi said it was a significant reform in national address management, as various agencies and business entities operate using different address databases, which may lead to inefficiencies and inaccuracies. He said the NAS will eliminate these inconsistencies and enable accurate and integrated service delivery across all sectors. "This unified and centralised database of an initial 12 million addresses will benefit all government agencies and business entities, and is expected to grow in numbers with new developments. "As such, local councils play a crucial role as they are closest to the public and are directly involved in the oversight of planning and development in their respective areas," he said. A foreign company has been commissioned to build the NAS at a total cost of RM700mil.
The Star
7 days ago
- Business
- The Star
Solarvest on track for strong FY26
Phillip Research said the company's management remained committed to further growing its order book to surpass RM2bil in FY26. PETALING JAYA: Solarvest Holdings Bhd is poised to chart another record showing for its financial year 2026 ending March 31 (FY26), due to, among other things, its strong engineering, procurement, construction, and commissioning (EPCC) order book. Phillip Research said it expects FY26 to be another record earnings year for the company supported by its robust RM1.2bil outstanding EPCC order book, comprising RM486mil worth of Corporate Green Power Programme projects, RM504mil in the fifth phase of the government's Large-Scale Solar (LSS5) projects, as well as RM252mil in residential, commercial and industrial projects. In a recent meeting, the research house said the company's management remained committed to further growing its order book to surpass RM2bil in FY26, underpinned by replenishment opportunities arising from LSS5, LSS5+ and the rolling out of battery energy storage systems. Solarvest has already secured a 30% share of the total two gigawatt (GW) capacity under LSS5 and is currently in active negotiations to finalise additional EPCC contracts by the third quarter of this financial year (3Q25), which could potentially lift its share to between 40% and 50%, the research house added. 'Looking ahead, the upcoming LSS5+ project is expected to introduce a further two GW of quota into the market, with bid finalisation anticipated by July 25, and EPCC contract awards commencing in 1Q26. 'Backed by a strong track record for execution in the LSS programme and robust bidding advisory capabilities, we anticipate Solarvest to maintain its 30% market share in LSS5+.' This includes the group's newly secured LSS5 projects and its Brunei solar venture, said the research house. 'The group now has a 334 megawatt pipeline of solar assets, targeted to be operational by FY28,' the research house said. Maintaining a 'buy' call on Solarvest with a higher target price of RM3.05, Phillip Research said it continues to like the company for its leading position in the solar-energy sector and for being a key beneficiary of the nation's energy-transition goals. Key downside risks include changes in the government's renewable-energy policy, project execution delays, intense market competition, and volatility in solar module prices.
The Star
12-07-2025
- Business
- The Star
ECRL project hits major milestone
Mega build: Loke officiating the Genting ECRL Project Tunnel excavation works ceremony in Bentong, Pahang.— MUHAMAD SHAHRIL ROSLI/The Star Breakthrough of Genting Tunnel sets regional railway record BENTONG: Malaysia's major infrastructure project, the East Coast Rail Link (ECRL), has reached a significant milestone with the breakthrough of the 16.39km Genting Tunnel – a new regional record. Transport Minister Anthony Loke said the Genting Tunnel is set to become the longest railway tunnel in South-East Asia upon its completion. 'It will certainly complement international trade by boosting export-oriented industries and making Malaysia more attractive to businesses,' he said at the breakthrough ceremony yesterday. 'Its last-mile connectivity between Kuantan Port and Port Klang will bring the east and west coasts closer together and ease the transfer of goods along the ECRL network.' Loke said the tunnel breakthrough symbolises not only a major engineering achievement but also the fruitful collaboration between Malaysia and China. This milestone, he added, also reflects the strong cooperation among ECRL personnel at all levels, particularly in managing excavation works across the 41 tunnels along the rail alignment. 'The ECRL is also touted as a game changer for the movement of passengers and freight in Peninsular Malaysia. It will link state capitals, key urban centres, industrial hubs, seaports, airports, and tourism zones while integrating with existing railway lines along its corridor,' he said. The Genting Tunnel has also been officially recognised in the Malaysia Book of Records for two achievements: being the longest railway tunnel and having the highest overburden. Speaking at a press conference later, Loke noted that the tunnels were designed with environmental considerations in mind, especially in traversing the Titiwangsa mountain range. 'The tunnels also reduce the need for cutting down trees,' he said. Loke also praised the strong partnership with China, stating that the project's deliverability had been clearly demonstrated. On plans to extend the ECRL to the Malaysian-Thai border, Loke said the proposal is under consideration. 'The distance from Kota Baru station to the border is about 32km. We are looking into the plan, but it is still at the study and proposal stage at the ministerial level,' he said, adding that the proposal may be tabled for Cabinet approval next year. The estimated cost of the extension is around RM2bil. The ECRL project, with a total estimated cost of RM50.27bil, spans 665km and will feature 20 stations across Peninsular Malaysia. The first phase, stretching from Kota Baru, Kelantan, to the Gombak Integrated Terminal in Selangor, is expected to be completed by December 2026 with operations slated to begin in January 2027. Phase Two, connecting Gombak to Port Klang, is scheduled for completion by December 2027 and is expected to be fully operational by January 2028.
The Star
29-06-2025
- Automotive
- The Star
Rain, heavy vehicles key causes behind poor roads
Keen eye: Ahmad Maslan (centre) looking at plans for the Universiti Malaysia Kelantan Bachok campus. — Bernama BACHOK: Rain and overloaded heavy vehicles were the two main causes behind damaged roads in the country, says the Works Ministry. Its deputy minister Datuk Seri Ahmad Maslan said RM4bil was required to repair damaged roads in the country, but the ministry has received just under RM2bil due to limitations faced by the government. 'My ministry always hopes that we will get more allocations each year to repair damaged roads as there are those that are 'old' and require re-tarring,' he told reporters after officiating the Bachok Umno division delegates' meeting yesterday, Bernama reported. He revealed that the ministry had previously suggested that any collection made by the Road Transport Department, including road tax and speeding summonses, be handed to the ministry to use for road repairs but the suggestion never received any feedback. On another matter, he said the construction of the Entrepreneurship Faculty Complex at Universiti Malaysia Kelantan Bachok campus had fallen behind schedule and had been granted four extensions of time (EOT). He said the fourth EOT would be the final one, adding that the ministry expected the project to be fully completed by October. 'I have informed the contractor and JKR (Public Works Department) that we don't favour EOTs as we prefer AOTs (Ahead of Time). The project is currently 68.9% complete, which means there's about 30% left to be done over the next three months. 'I hope they will implement two work shifts, day and night shifts, with each shift totalling 16 hours by two separate teams to complete on time,' he said. He cited the construction of the Malaysian Armed Forces staff housing in Sabah, which was carried out in three shifts, stressing that the contractor of this project should implement a three-shift system if they have similar capabilities. Ahmad said delays in the project would disadvantage three parties: the students for whom the complex is being built, the government and the contractors themselves. 'The contractor said the monthly cost is RM50,000. They've already fallen behind by several months, so imagine RM50,000 multiplied by those months; that's the financial loss the contractor has to bear,' he added.
