Bursa Announcements
News
Others
Jul 13, 2015
Type
Announcement
Subject
OTHERS
Description
APPOINTMENT AS THE PROJECT DELIVERY PARTNER FOR THE IMPLEMENTATION OF THE KLANG VALLEY MASS RAPID TRANSIT PROJECT SUNGAI BULOH-SERDANG-PUTRAJAYA LINE/LINE 2
We refer to our announcement of 29 October 2014.
Gamuda Berhad ("Gamuda" or "the Company") is pleased to announce that its jointly-controlled entity, MMC Gamuda KVMRT (PDP SSP) Sdn Bhd (the "PDP"), has on 13 July 2015 executed the Project Delivery Partner Agreement ("PDP Agreement") with Mass Rapid Transit Corporation Sdn Bhd (the "Owner") in respect of the implementation of the Klang Valley Mass Rapid Transit Line 2 Project Sungai Buloh- Serdang- Putrajaya (“KVMRT Line 2 Project”).
The salient terms of the PDP Agreement
The PDP shall, supervise and manage the construction, completion, testing and commissioning of the KVMRT Line 2 Project, within the time and cost allocated for the KVMRT Line 2 Project.
The Completion Date for Phase 1 of the KVMRT Line 2 Project is scheduled on 31 July 2021, while the Completion Date for the whole of the KVMRT Line 2 Project is scheduled on 31 July 2022.
Source of Funds
Gamuda shall fund its share in the PDP through internally generated funds and bank borrowings.
Financial Effects
Share Capital and Substantial Shareholders' Shareholdings
The KVMRT Line 2 Project will not have any effect on the share capital and substantial shareholders' shareholdings of Gamuda.
Earnings
The KVMRT Line 2 Project is not expected to have any significant effect on the earnings of the Gamuda Group for the financial year ending 31 July 2015. However, it is expected to contribute positively to the future earnings of the Gamuda Group.
Net Assets (“'NA")
The KVMRT Line 2 Project is not expected to have any significant impact on the NA of the Gamuda Group for the financial year ending 31 July 2015.
Approval (s) Required
The execution of the PDP Agreement is not subject to the approval of the shareholders of Gamuda or any government authorities.
Directors' and Major Shareholders' Interests
None of the Directors, major shareholders or persons connected to them has any interest, direct or indirect, in the KVMRT Line 2 Project.
This announcement is dated 13 July 2015
Announcement Info
Company Name
GAMUDA BERHAD
Stock Name
GAMUDA
Date Announced
13 Jul 2015
Category
General Announcement for PLC
Reference Number
GA1-13072015-00072
| Type | Announcement |
| Subject | OTHERS |
| Description |
APPOINTMENT AS THE PROJECT DELIVERY PARTNER FOR THE IMPLEMENTATION OF THE KLANG VALLEY MASS RAPID TRANSIT PROJECT SUNGAI BULOH-SERDANG-PUTRAJAYA LINE/LINE 2 |
|
We refer to our announcement of 29 October 2014. Gamuda Berhad ("Gamuda" or "the Company") is pleased to announce that its jointly-controlled entity, MMC Gamuda KVMRT (PDP SSP) Sdn Bhd (the "PDP"), has on 13 July 2015 executed the Project Delivery Partner Agreement ("PDP Agreement") with Mass Rapid Transit Corporation Sdn Bhd (the "Owner") in respect of the implementation of the Klang Valley Mass Rapid Transit Line 2 Project Sungai Buloh- Serdang- Putrajaya (“KVMRT Line 2 Project”). The salient terms of the PDP Agreement The PDP shall, supervise and manage the construction, completion, testing and commissioning of the KVMRT Line 2 Project, within the time and cost allocated for the KVMRT Line 2 Project. The Completion Date for Phase 1 of the KVMRT Line 2 Project is scheduled on 31 July 2021, while the Completion Date for the whole of the KVMRT Line 2 Project is scheduled on 31 July 2022. Source of Funds Gamuda shall fund its share in the PDP through internally generated funds and bank borrowings. Financial Effects Share Capital and Substantial Shareholders' Shareholdings The KVMRT Line 2 Project will not have any effect on the share capital and substantial shareholders' shareholdings of Gamuda. Earnings The KVMRT Line 2 Project is not expected to have any significant effect on the earnings of the Gamuda Group for the financial year ending 31 July 2015. However, it is expected to contribute positively to the future earnings of the Gamuda Group. Net Assets (“'NA") The KVMRT Line 2 Project is not expected to have any significant impact on the NA of the Gamuda Group for the financial year ending 31 July 2015. Approval (s) Required The execution of the PDP Agreement is not subject to the approval of the shareholders of Gamuda or any government authorities. Directors' and Major Shareholders' Interests None of the Directors, major shareholders or persons connected to them has any interest, direct or indirect, in the KVMRT Line 2 Project. This announcement is dated 13 July 2015 |
|
Announcement Info
| Company Name | GAMUDA BERHAD |
| Stock Name | GAMUDA |
| Date Announced | 13 Jul 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-13072015-00072 |