Bursa Announcements News

Gamuda Berhad (“Gamuda”) wishes to announce that SRS Consortium (“SRS Consortium”), of which Gamuda is a member has on 14 August 2015 received a Letter of Award dated 12 August 2015 (“LOA”) from the Penang State Government (“State Government”) appointing SRS Consortium as the PDP for the implementation of an alternative transport master plan comprising the different public transport components in Penang Island and Seberang Perai (“Alternative TMP”) and the provision of new reclamation sites (“Reclamation Sites”). The Alternative TMP and the Reclamation Sites shall be referred to collectively as the “Project”.

SRS Consortium comprises the following members:

Name of company                                                                 % in consortium
Gamuda                                                                                            60
Ideal Property Development Sdn Bhd                                              20
Loh Phoy Yen Holdings Sdn Bhd                                                     20

The scope, terms and conditions of the appointment will be finalised between the State Government and SRS Consortium following which the PDP Agreement shall be executed within 6 months from the date of the LOA or such other period as mutually agreed upon by the parties.

The LOA is binding on the parties pending the execution of the PDP Agreement. 

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 14 August 2015.