PETALING JAYA: Malaysian Resources Corp Bhd(MRCB) ‘s unit MRCB Lingkaran Selatan Sdn Bhd(MLSSB) has received its settlement sum, amounting to RM1.32billion from the government for the termination of its concession for the Eastern Dispersal Link Expressway(EDL).
The group told the stock exchange that it had received the sum as determined in the termination agreement , today.
“As detailed in Section 7 of the Announcement, MRCB will procure its shareholders’ ratification for the Concession Termination and Termination Agreement within six months from the date of the execution of the Termination Agreement,” it said.
The termination of the agreement for the construction, management, operation and maintenance of the EDL came into effect on Jan 1.
In a filing dated Nov 12, MRCB said MLSSB has ceased the operations, management and maintenance of the EDL and the rights of MLSSB in respect of the EDL Concession has since reverted to and vested in the government.
The stock fell 4.11% to 70sen with 8.98million shares done.
