Tuesday, June 12, 2007

SMART To Be Completed One Week Ahead Of Schedule

KUALA LUMPUR, June 12 - The floodwater channel of the Stormwater Management and Road Tunnel (SMART) will be ready one week ahead of its scheduled June 30 completion date as the authorities scramble to overcome flash floods in the Klang Valley.

Irrigation and Drainage Department (DID) director-general Datuk Keizrul Abdullah said the department would speed up all flood mitigation measures to deal with the problem.

For SMART's floodwater channel, several gates are being installed while all security features would be completed before the tunnel is commissioned, he said in a statement Tuesday.

Prime Minister Datuk Seri Abdullah Ahmad Badawi yesterday expressed dismay over the inadequate flood control measures in the city during a briefing at the Kuala Lumpur City Hall on the flood which threw the capital into chaos on Sunday night.

He asked the DID to speed up flood mitigation efforts, including the RM1.93 billion SMART dual-purpose tunnel.

Keizrul said DID was carrying out several projects to prevent floods in the federal capital under the Klang River Valley Flood Mitigation Programme, including the construction of the Batu Dam and raising the height of the Klang Gates Dam by three metres.

He said the department was also installing pump systems in low-lying areas.

"DID is also deepening and widening the Klang River, Damansara River, Kerayong River and Penchala River besides strengthening the river embankment in Kebun Bunga, Shah Alam.

"We'll also construct flood bypasses and upgrade flood forecast and alert system. We've started sending flood warnings to Shah Alam residents by SMS (short messaging service)," he added.

A four-hour downpour on Sunday left many places in Kuala Lumpur under water. Among the worst affected areas were Kampung Baru, Sentul, Jinjang Selatan, Segambut, Jalan Masjid India, Jalan Perak, Jalan Pinang, Jalan Tun Razak, Jalan P Ramlee and Jalan Kolam Air, Setapak.

Clean up operations are now underway to clear the streets of rubbish and items destroyed by floodwaters.

Ringgit Opens Stronger Against US Dollar

KUALA LUMPUR, June 12 - The ringgit opened stronger against the U.S. dollar today on commercial buying interests, said dealers.

However, the greenback was higher in most overseas markets on expectations that the U.S. Federal Reserve would not cut interest rates in the near term.

Dealers said that lower interest rates could boost the U.S. economy but at the same time could make investments denominated the U.S. dollar less attractive.

The ringgit has appreciated by 4.2 percent against the U.S. dollar this year and cumulatively since its depegging against the greenback in 2005, the ringgit has risen by between 10 and 12 percent.

At 9.00 am, the ringgit strengthened at 3.4585/4615 against the U.S. dollar compared with yesterday's closing of 3.4685/4715.

Except against the Singapore dollar, the local unit was also mostly higher against other major currencies.

It weakened against the Singapore dollar at 2.2462/2492 against 2.2456/2490 yesterday but rose against the Japanese yen at 2.8425/8562 from 2.8498/8525.

Against the pound sterling, the ringgit was stronger at 6.8202/8271 from 6.8264/8340 and rose against the euro at 4.6202/6253 from 4.6260/6324 previously.