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TJ KB BTS: LRT RM6 Bilion 30/4/2001
21/2/2001 6:28 pm Wed
Bank yang baru sahaja melapurkan keuntungan yang merosot kini
akan berdepan dengan Bailout LRT pula. Kerajaan nampaknya terdesak
mahu menyelamatkan dua syarikat LRT segera sebelum 30/4/2001. Jika
tidak peratus keuntungan bank akan merosot lebih teruk lagi pada
Bank dibenarkan untuk menganjak klasifikasikan NPL dari 9/12/2000 kepada 30/4/2001. Ini pernah belaku pada September 1998 lepas dengan anjakan setahun.
Jelas terbayang bail-out ini membebankan bank berkenaan.
Renong, EPF, Dana Pencen, dan kumpulan AIA merupakan pelabur utama
projek LRT ini. Kehadiran dua dana awam (EPF dan Dana Pencen) ini
tidak menyenangkan mata kerana mereka lebih bersifat menampung
Renong yang bermasalah wang sekian lama.
Renong dikawal oleh Halim Saad, proksi Daim. Ia berkait rapat dengan
parti Umno kerana ia mendapat pelbagai keistimewaan melebihi segala.
Tetapi ia asyik berhutang sehingga lingkup bank dibuatnya.
Renong memang menyusahkan instisui perbankan dan kecairan dana negara.
Tetapi pengurusan Renong yang tentunya ramai datuk datin masih dikekalkan
sahaja. Sudah rebah beberapa kali pun masih tidak sedar-sedar juga....
bagaimana ia mampu menjadi konglomerat bertaraf dunia?
From The Business Times, Singapore
KL rail system: April 30 deadline to raise RM6b
Failure to meet deadline will see loans classified as non-performing
THE Malaysian government faces an April 30 deadline to raise RM6
billion (S$2.7 billion) to bailout Kuala Lumpur's public rail
transport system, run by Renong Bhd and other companies.
The central bank has given the project's lenders such as Commerce
International Merchant Bankers Bhd, RHB Bank Bhd and others until then
to defer classifying their loans as non-performing, according to
documents from one of the creditors. Bank Negara, the central bank,
couldn't be reached for comment.
Failing to meet the deadline may cause the country's bad loans to
balloon by 1.6 percentage points to 13.9 per cent of total loans of
RM411 billion, pushing bank profits lower, analysts said.
The deadline will "help push the government to speed up the
restructuring", said Peck Boon Soon, a banking analyst at Worldsec
International Ltd. Failure to meet the deadline "could hurt banks'
earnings" as they make more loan-loss provisions.
Malayan Banking Bhd and AMMB Holdings Bhd have reported falling profit
in their latest quarter on rising bad loans as stock market slump and
slowing economy slows debt-laden companies' efforts to reorganise
Commerce International Merchant Bankers, PhileoAllied Bank Bhd and RHB
Bank are among lenders with exposure to the transport companies.
Malaysia's central bank has allowed the lenders to defer classifying
the loans as non-performing from Dec 9, 2000 to April 30 this year,
according to the documents. The first deferment, in September 1998,
was for one year.
In December, Malaysia said it plans to sell bonds at coupon rates of
between 5.8 per cent and 7.2 per cent to raise funds to take over the
transport project's assets from its main shareholders.
Renong, the Employees Provident Fund, Malaysia's biggest pension fund
and American International Assurance Group are among the shareholders
of the rail project, according to the document.
The government will take over the electric rail system, which runs
between Kuala Lumpur and its suburbs. It is owned and managed by
Putra, or Projek Usahasama Transit Automatik Sdn, Renong and Star, or
Sistem Transit Aliran Ringan Sdn Bhd.
Renong, the largest industrial group in Malaysia, with interests in
construction, banking, oil and gas, hotels and property, is controlled
by Halim Saad, a protege of Daim Zainuddin, Malaysia's finance
Renong's businesses were formerly owned by dominant political party
United Malays National Organization, or Umno. -- Bloomberg
KL considers merging LRT, bus services
The government is considering merging light rail transit (LRT)
services with bus services to improve the public transport system in
the city, Bernama news agency quoted economic adviser to the finance
ministry Mustapa Mohamed as saying.
Mr Mustapa, who heads the task force on the restructuring of Kuala
Lumpur's public transportation system, said the move could overcome
the problem of competition between the bus and LRT operators.
"Several other models are being studied, but the basis is quite
identical. The LRT and bus services should complement each other," he
said, adding that emphasis must be given on improving the standard of
bus services. "We can't allow the LRT system which is of world
standard to be bogged down by bus services which are of third world
Another aspect of the transportation system which has taken too long
to be resolved is the implementation of the integrated ticketing
system, Mr Mustapa said, adding that this issue will also be given top
"A study revealed that although the Cabinet had decided to create two
main consortiums for bus services in the city in 1995, there are now
17 operators with about 2,200 buses.
"Most of the bus operators are in a critical financial situation, thus
they are unable to manage their assets (buses) properly, leading to
the deterioration of services provided," he added. -- AFX-Asia