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KUALA LUMPUR: Shares of Scomi Group Bhd fell as much as 11% in early trade Friday after its three-way merger proposal fell through. (5-0)
According to a market observer, Scomi Energy shareholders’ interest was considerably boosted with crude hitting its recent highs since 2015. “They prefer to have Scomi Energy stay as a listed entity,” a remisier said (5-0)
MarketWatch: The Dow Jones Industrial Average hit a record high on Tuesday, helped by a surge in Wal-Mart Stores, while Amazon and Facebook lost ground and investors focused on upcoming quarterly reports. The DJIA rose 0.31% to 22,830.68 points, a record-high close, the S&P 500 gained 0.23% to 2,550.64 and the Nasdaq added 0.11% to 6,587.25. - Reuters (150-0)
MarketWatch: US stocks sold off on Thursday, with the S&P 500 recording its biggest daily percentage drop in three months as escalating worries about the Trump administration's ability to push through its economic agenda rattled investors. The DJIA ended down 274.14 points, or 1.24%, to 21,750.73, the S&P 500 lost 38.1 points, or 1.54%, to 2,430.01 and the Nasdaq dropped 123.20 points, or 1.94%, to 6,221.
IN our story “Auditors raise doubts on Scomi’s business ability due to ongoing disputes” on July 25, the company is Scomi Engineering Bhd and not as published.
The Scomi Engineering group has yet to secure further extension from the lenders who have provided project financing for the KL Monorail expansion project, says KPMG.
MarketWatch: US stocks were sharply lower on Thursday after disappointing labor market data clashed with the possibility of a more hawkish Federal Reserve, while rising tensions in the Korean peninsula providing additional pressure. The DJIA fell 158.13 points, or 0.74%, to 21,320.04, the S&P 500 lost 22.79 points, or 0.94%, to 2,409.75 and the Nasdaq dropped 61.39 points, or 1%, to 6,089.46. - Reuters
After all the 12 four-car trains are in operation, the 2-car trains are supposed to be decommissioned.
Zohari said Rapid Rail would only redeploy the trains to revenue service when they were certified safe by Scomi. — Picture courtesy of WikipediaKUALA LUMPUR, June 12 — Rapid Rail Sdn Bhd and Scomi Engineering Berhad have identified 13 safety-critical modifications that need to be carried out on the four-car monorail trains before returning them to service.
Scomi Engineering says that prior to the revenue service, its trains underwent rigorous validation process, design reviews and endurance tests.
The contract central to the Prasarana-STP dispute involves the upgrading of the Kuala Lumpur monorail stations and the electrical and mechanical system, the construction of a new depot, and delivery of 12 sets of new four-car trains.
Rapid Rail operates the KL Monorail Line and is a subsidiary of Prasarana. Prasarana and Scomi Engineering had been locked in dispute over the expansion of the KL Monorail project and in March, both parties inked a third supplemental contract to resolve the issue.
Mumbai: The Monorail which will run from Chembur to Jacob Circle has been delayed and citizens are clueless the commencement of this project.