Bursa Announcements News

Gamuda Berhad (“Gamuda” or “the Company”) wishes to announce that it has today entered into a Joint Venture Agreement (“JV Agreement”) with MMC Corporation Berhad (“MMC”) to form an unincorporated joint venture for the purpose of undertaking the tunnelling, underground works and such other works as MMC and Gamuda agree for the Klang Valley Mass Rapid Transit Project (“the Project”).

The salient points of the JV Agreement are as follows:

1.        The name of the unincorporated joint venture is “MMC Gamuda KVMRT (UGW) Joint Venture”.

2.        The interest of the parties in the unincorporated joint venture is as follows:

Party               %

Gamuda          50

MMC               50

3.        The breakdown of the total capital and investment outlay will be according to the proportion of interest of each party.

4.        Gamuda plans to finance its portion of the investment in the joint venture through internally generated funds and/or borrowings.

Gamuda will make the appropriate announcement to Bursa Malaysia as and when there is a material development in relation to the Project.

This announcement is dated 23 May 2012.