PETALING JAYA: Pesona Metro Holdings Bhd’s unit Pesona Metro Sdn Bhd has clinched a contract worth RM408.8 million from MRCB Builders Sdn Bhd for the execution and completion of the superstructure works for the proposed mixed development in Kuala Lumpur.
MRCB Builders, which is wholly owned by Malaysian Resources Corp Bhd, is the main contractor for the project.
The project is for a duration of 30.5 months commencing on Feb 18 and is expected to contribute positively to the group’s earnings and enhance its net assets during the duration of the project, Pesona Metro told the stock exchange today.
The project will be funded via internal generated funds and accordingly, has no effect on the gearing of the group, it said.
Meanwhile, in a separate announcement, Pesona Metro said its unincorporated joint venture (JV) with Pembinaan Kaleigh Sdn Bhd have mutually terminated the RM371.42 million contract agreement to build a stretch of the West Coast Expressway in Selangor.
“The parties have agreed the terms of settlement for a sum of RM7.17 million payable by the main contractor of the JV in respect of all claims and counterclaims. The main contractor shall gain access to and take full site possession on Feb 15 from the JV,” it added.
However, no reason was given for the project cancellation.
The parties had in September 2016 accepted the letter of award to construct and complete the civil works for the Section 6 Kapar Interchange to Asam Jawa Interchange.
