The Pakatan Harapan parties of PKR, DAP, and Amanah have yet to get on the scoreboard. PSB has won its second and third seats of the night, adding Bawang Assan and Engkilili to Ba'kelalan that it won earlier.Īs of writing, PSB was the only party to have secured any seats in the state election that GPS has already won, based on provisional results. Pujut was one of the seven seats that DAP was able to win in 2016.Įarlier, DAP’s Dr Kelvin Yii also failed to unseat SUPP’s Dr Sim Kui Hian in Batu Kawah, allowing the latter to easily retain the seat for GPS. Gabungan Parti Sarawak has denied DAP a key victory in Pujut, which previously slipped from the latter’s grasp when its lawmaker was disqualified due to a citizenship controversy. Gabungan Parti Sarawak has won 55 seats of the 82 available to give the coalition supermajority control of the state assembly, based on preliminary results. The result meant the Pakatan Harapan party became only the second tonight to deny the Gabungan Parti Sarawak that has already secured two-third’s control of the state assembly.Įarlier, the Election Commission also announced GPS as the winner of the state election, endorsing the coalition’s victories in 45 of the 82 available seats. DAP’s Chong Chieng Jen has secured his party’s first seat in the 12th Sarawak state election by winning in Padungan. Unofficially, GPS has already secured a supermajority in the state assembly but this must still be confirmed by the EC. “Until 8.45pm, GPS has won 45 seats, thus securing more than 50 per cent majority to win the Sarawak state election,” he said in a press conference at the Sarawak EC office today. "With that, CMS, HSL, KKB and Naim are all expected to be potential direct and indirect beneficiaries of the Pan Borneo Highway project," it said.įor non-construction companies, AmInvestment Bank said, stocks in focus will be in the timber sector such as Jaya Tiasa Holdings and Ta Ann Holdings.The Election Commission (EC) announced Gabungan Parti Sarawak (GPS) as the official winners tonight of the 12th Sarawak state election.ĮC chairman Datuk Abdul Ghani Salleh said GPS officially won enough seats as of 8.45pm to form the next state government. The highway is expected to spur developments within and outside the Sarawak Corridor of Renewable Energy.
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"We believe the other packages will be rolled out starting January.
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The second package involves 33km, launched on Sept 1 at a value of RM580 million. The Sarawak government requires local entities to have a 70% equity lead in each of the consortium, with partners from Peninsular Malaysia.Ĭonstruction of the highway started last March, with the initial package involving a 43km route, with a total contract value of RM638 million. As of the latest, we understand that between 12 and 15 consortiums involving local and those from Peninsular Malaysia have been prequalified," AmInvestment Bank said. "We understand that a total of 10 packages will be rolled out in phases. The 1,090km Sarawak section, to be built at a cost of about RM15 billion, will be implemented through the project delivery partner, Lebuhraya Borneo Utara Sdn Bhd, and is expected to be completed by early 2023. The state has reserves totalling RM27 billion.Īpart from the state budget, Sarawak is expected to benefit hugely from the construction of the federal-funded RM27 billion Pan Borneo Highway. Specifically, rural development will receive an allocation of RM2.65 billion, up 13% from 2015.
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It included RM5.97 billion allocation for development – roads, supply of treated water and for the agriculture sector. Sarawak recently tabled a state budget for 2016 of RM8.04 billion, up 26.5% year-on-year. Others include timber stocks Jaya Tiasa and Ta Ann, as well as Bintulu Port. These include construction companies Cahya Mata Sarawak, Sarawak Cable, Hock Seng Lee, KKB Engineering and Naim Holdings, he said. "From early 2016, we expect Sarawak stocks to come under election-theme trading in the lead up to polls and here again, we highlight the recent developments as well the prospects of companies under our coverage," its analyst Thomas Soon said. Within a grace period, it could also be held within 60 days after the expiry of the term on June 20, 2016.
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The current speculation is that the elections may be held earliest in February and latest by May. Sarawak Chief Minister Tan Sri Adenan Satem hinted at holding the state election in March 2016 during New Year's eve celebrations in Kuching.ĪmInvestment Bank, in its sector report, said the ruling Barisan Nasional was expected to retain control of the now-expanded 82-seat assembly. KUALA LUMPUR: Sarawak-related stocks on Bursa Malaysia are likely to be in the spotlight as the state braces for its eleventh election.