Latest news with #WestCoastExpressway
New Straits Times
08-05-2025
- Business
- New Straits Times
Fibromat's LEAP to ACE falls flat as shares open 16pct below IPO price
KUALA LUMPUR: ACE Market debutant Fibromat (M) Bhd joined the list of initial public offering (IPO) laggards, opening 16.36 per cent below its issue price. The geotechnical services firm, formerly listed on the LEAP Market, began trading at 46 sen—nine sen below its IPO price of 55 sen. As at 9.15am, the stock was trading at 46.5 sen after touching a low of 41 sen earlier, with 11.36 million shares exchanged. Fibromat was the third most actively traded stocks in the morning session, falling short of the typical IPO debut frenzy. The company marks the twentieth IPO on Bursa Malaysia this year, joining a wave of listings grappling with volatility sparked by tariff-related global headwinds. West River Bhd, which listed earlier this week, also saw a muted debut on Monday. At 55 sen a share, Fibromat's IPO brought in RM17.8 million in proceeds. The proceeds will be used to purchase new machinery, including stitching machines and dust collectors, and to strengthen its in-house capabilities. The company plans to form its own prefabricated vertical drain installation team and acquire five hydraulic excavators to boost operational capacity at its factory in Selangor. Fibromat's core business includes the design, manufacturing, installation and trading of geosynthetics and erosion control products. Its portfolio includes projects such as the West Coast Expressway, Sarawak Second Trunk Road and Phase 1A of the Sabah Pan Borneo Highway. It is also actively bidding for jobs under Sabah Pan Borneo Highway Phase 1B and the Sarawak-Sabah Link Road.
The Star
21-04-2025
- Automotive
- The Star
Upgrade for Changkat Jering toll
The Changkat Jering toll plaza (top left) is used by motorists driving on the new WCE to get on the PLUS expressway. — Filepic HIGHWAY authorities have addressed the critical traffic congestion at the Changkat Jering toll plaza of the North-South Expressway (PLUS). Perak infrastructure, energy, water and public transportation committee chairman Datuk Seri Mohammad Nizar Jamaluddin said the Malaysian Highway Authority (LLM) had engaged with the concessionaires of the West Coast Expressway (WCE) and PLUS. Mohammad Nizar said traffic congestion occured at the toll especially during school holidays and festive seasons. 'Among the steps taken are having additional lanes at the toll plaza heading to PLUS from the WCE to reduce the traffic overflow. 'There is also introduction of hybrid lanes (RFID and Touch 'n Go) at the Changkat Jering toll plaza,' he said in reply to Rahim Ismail (PN-Changkat Jering) during the state assembly sitting at Bangunan Perak Darul Ridzuan in Ipoh. Rahim had asked on the action plan by the Public Works Department, or WCE regarding the traffic congestion frequently occurring at the toll plaza during school holidays and festive seasons. To his question on steps taken to avoid accidents happening at the narrow exit to Changkat Jering town, Mohammad Nizar said engagement sessions with the Taiping traffic police had been held. He said improvements were being made through real-time traffic monitoring via closed-circuit television (CCTV) by the WCE Traffic Control Centre. 'This monitoring will directly notify the traffic police to carry out control actions, assistance and traffic management at the Changkat Jering junction in case of congestion,' he added. The narrow exit to Changkat Jering, he said, was designed by certified consultants taking into account feedback from road safety auditors, adding that the design was approved by the relevant department. On a question by Mohd Akmal Kamarudin (PN-Selama) on the development of the Northern Corridor Highway (NCH) project, Mohammad Nizar said several government agencies, including the Works Ministry were reviewing viable sections of the highway.
The Star
21-04-2025
- Business
- The Star
West Coast Expressway gets green light to accept RM1.15bil loan facility
The West Coast Expressway operations centre at Bandar Bukit Raja, Klang in Selangor. KUALA LUMPUR: WCE Holdings Bhd 's 80 per cent-owned subsidiary West Coast Expressway Sdn Bhd (WCE) has received the Malaysian government's approval to accept a term loan facility of up to RM1.15 billion from Bank Pembangunan Malaysia Bhd. In a filing with Bursa Malaysia, WCE Holdings said the financing facility would be used to partly finance the costs and expenses related to the construction and development of the West Coast Expressway, as well as other associated fees and expenses. The company added that the financing facility would provide the necessary funding to ensure the expressway's completion. - Bernama
