Latest news with #WestRiver
CBS News
04-08-2025
- Business
- CBS News
Anne Arundel County partners with marina to provide public boat ramp access to West River
Anne Arundel County leaders are partnering with a local marina to provide public boat ramp access on the West River. As WJZ reported last month, the county abruptly closed the ramp after the county council voted to terminate funding for rent and expenses at Discovery Village – the only public boat ramp within a 30-minute drive. The county announced a partnership with Parish Creek Landing Marina on Woods Warf Road in Shady Side, just across the creek from Discovery Village, allowing the public to use their boat ramp for free through October. "The county will take care of the dues, so to speak," said Julia Howes, the President and CEO of the Southern Anne Arundel Chamber of Commerce. Boaters just need to check in with the office at Parish Creek Landing to get a day pass before launching. Capt. Kacie LaCovey, the general manager of Parish Creek Landing, said dozens of boaters came out to use the ramp on Saturday. "We have commercial watermen that were kind of at a loss and didn't have a way to launch and go crabbing and fishing, so we're trying to offer it and make the best of what we have here," LaCovey said. Parking is limited, and the layout of the marina requires a skilled boater to launch without hitting other vessels, whereas the Discovery Village launch has a lot more room for error. "Our biggest struggle right now is we just don't have a lot of parking, but we're trying to consolidate things and reorganize," LaCovey said. It may not be a perfect solution, but it's only temporary. "By partnering with a local marina, we can provide immediate access," said Jessica Leys, the Director of the Anne Arundel County Department of Recreation and Parks. "The Department is committed to continuing the conversation and working together for a long-term solution to serve the South County residents with comprehensive water access." When the public boat ramp at Discovery Village in Shady Side suddenly closed days before the Fourth of July weekend, local fishermen like Mike Potts worried the cost of water access would drag them under. "That would end up being a pretty penny for the summertime just in boat ramp fees," Potts said. In July, council member Shannon Ledbetter said the county's lease had rising rent and allowed the property owner to bill for maintenance, spending taxpayer money without public approval. The council voted to cut funding for the rent, but the decision cut off public boat ramp access for southern Anne Arundel County. "Not everyone here is privileged enough to live in one of those waterfront communities, so there's a lot of access that is private, and we really need more of that public area to be able to get into," said Julia Howes, the President and CEO of the Southern Anne Arundel Chamber of Commerce. Howes said the chamber began advocating for the local boaters. "We did recommend working with local marinas and businesses to get that temporary access going," Howes said.
CTV News
06-05-2025
- General
- CTV News
Millions of trout piped into Alberta ponds and lakes for fishing season
Cultured trout are released into a pond in West River's Edge Pond in Fort Saskatchewan on May 6, 2025. (Evan Klippenstein/CTV News Edmonton)
BusinessToday
06-05-2025
- Business
- BusinessToday
Bursa Opens Higher As FBMKLCI Rises 4.26 Points To 1,546.75
Bursa Malaysia opened on a positive note Monday, with key indices trending higher amid upbeat market sentiment and broad-based buying interest across sectors. The FBM KLCI gained 4.26 points or 0.28% to reach 1,546.75 at 9:08 am, lifted by gains in selected heavyweights. The benchmark index traded between 1,541.78 and 1,546.75 in the early session. Broader market performance was also positive: The FBM 70 rose 97.33 points to 16,371.87 (+0.60%), rose to (+0.60%), The FBM Emas advanced 42.59 points to 11,531.97 (+0.37%), advanced to (+0.37%), The FBM Shariah Index climbed 39.63 points to 11,429.98 (+0.35%), climbed to (+0.35%), The FTSE4Good Bursa Malaysia Index (F4GBM) added 3.15 points to 928.93 (+0.34%). Among the most actively traded counters, West River topped the volume list on its ACE Market debut with 216.97 million shares done at an unchanged price of 39 sen. Other actives included SFP Tech, which rose 1 sen to 23 sen, and NATGATE, which added 4 sen to RM1.56. Gainers outpaced losers as investor sentiment remained supported by regional cues and expectations of continued foreign interest. Related
The Sun
05-05-2025
- Business
- The Sun
West River plans to build new factory in Klang Valley, extend market presence to Johor and Penang
KUALA LUMPUR: Engineering services provider West River Bhd has unveiled plans to construct a new manufacturing facility in Klang Valley and extend its market presence into Johor and Penang. Managing director Lim Yong Lai said the group aims to channel RM10 million (35.84%) of its initial public offering (IPO) proceeds into land acquisition and the development of a new manufacturing facility to increase its production capacity. 'Our initial plan is to buy land, get the necessary approvals, and build the plant ourselves, a process we estimate will take around three years. However, we are also exploring the option of acquiring ready-built buildings which could shorten the timeline depending on market availability,' he said in a press conference following West River's listing on Bursa Malaysia's ACE Market today. Lim said the proposed facility is expected to have around 35,000 sq ft of built-up area, significantly larger than its current site in Kajang. 'It will accommodate expanded production lines for the manufacturing of electrical panels and distribution boards, along with warehousing space.' Apart from physical expansion, West River also plans to diversify geographically. Currently, about 80% of the company's revenue comes from Klang Valley, but it is now eyeing project opportunities in Johor and Penang, especially within sectors such as hospitality and data centres. 'We have two projects pending on the northern side, one in Langkawi and another in the hotel sector. Meanwhile, we are also tendering for data centre projects in Johor, which is a hot sector right now. About 13% of our RM1 billion tender book consists of data centre projects,' Lim disclosed. On financing strategy, he said West River is utilising RM5.6 million (20%) from the IPO to repay borrowings, aiming to reduce its gearing ratio from around 0.3 to between 0.1 and 0.2. 'This will provide more flexibility for future fundraising if needed.' Commenting on Malacca Securities' projection of a 9.7% compound annual growth rate (CAGR) in core revenue over the next three years, Lim expressed confidence in the company's growth trajectory. 'While Malacca Securities projected a 9.7% CAGR in earnings over three years, our internal targets are more ambitious at 15%.' West River opened higher at 39.5 sen on its debut, representing a 1.28% premium over its IPO price of 39 sen per share. Based on West River's enlarged share capital of 357.7 million shares and the IPO price of 39 sen per share, its market capitalisation upon listing is about RM139.5 million. Lim said the IPO performance met internal expectations. 'We are happy that investors still have confidence in us. The demand in the M&E sector remains strong.'
The Star
05-05-2025
- Business
- The Star
ACE Market debutant West River emerges as most actively traded stock
KUALA LUMPUR: ACE Market debutant West River Bhd, which has emerged as the most actively traded stock this morning, is well-positioned for sustained growth, said Rakuten Trade Sdn Bhd. This is evidenced by the company's sizable unbilled order book of RM247.3 million across 26 active contracts, it said. In a note, the online stock broking company said West River is also actively tendering for 101 projects totalling RM1.03 billion. Equipped with the prestigious G7 Construction Industry Development Board (CIDB)and Class A ST licenses, the company is eligible to bid for projects of unlimited value, significantly widening its market reach. "As Malaysia's mechanical and electrical (M&E) engineering sector benefits from continuing urbanisation, infrastructure investment, and demand for energy-efficient systems, especially in data centres, healthcare, and commercial buildings, West River stands to gain from regulatory tailwinds that favour certified and sustainable solutions,' said Rakuten Trade. Overall, it is optimistic about West River's prospects, premised on its robust contract pipeline, digital capabilities, and healthy net cash balance sheet, which collectively equip the group to sustain long-term growth post-listing. It recommended a "buy' call with a fair value of 47 sen for the company. As at 10 am, West River's share price was 1.0 sen lower at 38 sen, with 40.17 million shares traded. - Bernama
