18/03/2026

BIZ & FINANCE WEDNESDAY | MAR 18, 2026

15

MRL inks deal to strengthen ECRL funding

billion from the Export-Import Bank of China at an interest rate of 3.25% to finance the development of this national infrastructure project. The JLC agreement signing ceremony was also attended by Chief Secretary to the Government and MRL chairman Tan Sri Shamsul Azri Abu Bakar, Public Service director-general Tan Sri Wan Ahmad Dahlan Abdul Aziz, Finance Deputy Minister Liew Chin Tong, MRL CEO Datuk Seri Darwis Abdul Razak, and China Communications Construction (ECRL) Sdn Bhd managing director Deng Bo. Amir Hamzah also officiated the completion of track construction for the ECRL from Kota Bharu to Gombak, covering the main alignment of 519km. The ceremony marks another significant milestone for the ECRL project, which connects the East Coast states with the Klang Valley. The 665km ECRL project has now reached 92.62% completion as of February 2026, in line with the schedule to complete the Kota Bharu– Gombak alignment by the end of this year and commence commercial operations in January 2027. The ECRL alignment between Gombak and Port Klang is expected to be completed by December 2027 and fully operational by January 2028.

GOMBAK: The government has appointed eight banking institutions to establish a foreign-exchange risk management mechanism to finance the East Coast Rail Link (ECRL) project. The execution of the Joint Lead Coordinator (JLC) deal represents a strategic step in strengthening the financing governance framework of the ECRL project. By appointing banking insti tutions as JLCs, a more structured, transparent, and disciplined foreign exchange risk management mecha nism can be implemented to manage the settlement of the loan in renminbi. Minister of Finance II Datuk Seri Amir Hamzah Azizan officiated the signing of a JLC agreement between Malaysia Rail Link Sdn Bhd (MRL) and the eight banking institutions at the ECRL Gombak Integrated o Joint Lead Coordinator agreement with banks enhances financing structure and long-term project stability

From left: China Communications Construction (ECRL) Sdn Bhd senior adviser Kong Qi, Darwis, Shamsul Azri, Amir Hamzah, Wan Ahmad Dahlan, Liew, and Deng at the JLC signing ceremony.

project’s financial management is carried out more efficiently and in line with international financial market best practices. For the record, the construction of the ECRL project, spanning 665km with 20 stations, costs RM50.27 billion. MRL, a wholly owned subsidiary of the Minister of Finance (Incorporated), has secured a term loan of RM37.4

It is the first of its kind in Malaysia for a government-linked company (GLC) and has the potential to serve as a benchmark for financial management in large-scale projects in the future. The mechanism is expected to improve exchange rate certainty and reduce exposure to currency market volatility, thereby ensuring that the

Terminal Station involving MRL, as the owner of the ECRL project, together with Maybank, CIMB, RHB, AmBank, Bank of China, United Overseas Bank, China Construction Bank, and the Industrial and Commercial Bank of China. This initiative also reflects MRL’s continued commitment to en 0hancing corporate governance.

Elridge Energy’s substantial shareholders boost stakes amid price pressure KUALA LUMPUR: Elridge Energy Holdings Bhd is drawing continued support from its key shareholders, with its CEO Oliver Yeo Hock Cheong leading a fresh round of share accumulation despite recent weakness in the company’s share price. substantial shareholders. Tan Sri Dr Azmil Khalili Datuk Khalid has, over recent days, acquired more than 1.07 million shares, bringing his deemed interest to 5.58 million shares. Separately, Urusharta Jamaah Sdn Bhd disclosed in a March 13 filing that it had acquired 2.59 million shares on March 10, raising its direct in the company’s underlying business. Yeo indicated that a review of the firm’s Record of Depositors suggests that part of the recent selling pressure was driven by foreign funds reducing their positions, possibly reflecting portfolio rebalancing or broader macroeconomic considerations. sustained demand from power utilities and industrial customers seeking lower-carbon fuel alternatives, and is prioritising the expansion of its production capacity and regional supply network to support this demand. renewable and transitional energy sources, particularly in North Asian markets such as Japan, where biomass remains a key component of the energy mix.

It also pointed to the company’s ongoing capacity expansion initiatives, including the commissioning of a new processing facility in Pahang and plans to scale operations further to meet rising export demand. Apex Securities further noted that structural drivers, including decarbonisation policies and long-term power purchase agreements, are expected to underpin global biomass demand, providing a supportive backdrop for Elridge Energy’s growth over the medium to long term.

Listed on the ACE Market of Bursa Malaysia, the company produces biomass fuel products, including palm kernel shells and wood pellets, serving customers across Asia and other international markets. Recent research coverage by Apex Securities underscores the company’s longer-term positioning. The research firm highlighted that Elridge Energy stands to benefit from the accelerating transition towards

According to a filing with Bursa Malaysia, Yeo acquired 10 million shares for RM9.7 million. The transaction increases his direct shareholding to 149.6 million shares, representing about 7.48% of the company’s issued share capital. Including indirect interests, his total stake stands at approximately 476.9 million shares, or 23.8%. The latest purchase forms part of a broader trend of accumulation by

He added that trading activity can also be influenced by liquidity conditions, profit-taking and overall market sentiment, and emphasised that there are no undisclosed material developments affecting the company. Operationally, Elridge Energy remains focused on executing its growth strategy within the biomass segment. The group continues to see

shareholding to 130.4 million shares, equivalent to approximately 6.52%. The increased buying interest comes against a backdrop of share price volatility. Elridge Energy closed at RM1.02 on March 16, compared with RM1.41 a month earlier. The group has attributed the recent price movement to external market factors rather than any change

Education retains its importance in the Malaysian landscape for parents, students and stakeholders. The changes are fast paced with new developments in new fields of study such as cybersecurity, data protection, augmented and virtual reality, machine learning in education, digital education and artificial Intelligence. Leading the way are universities, who are invited to showcase their latest programmes, curriculum and content in our Education Focus for 2026.

Contact us now for special deals on digital, video and print advertising. 03-7784 6688 advertise@thesundaily.com

thesun.my