Bursa Announcements News

INTRODUCTION

The Company wishes to announce that MMC Gamuda KVMRT (T) Sdn Bhd (Company No. 934628-H) (“JV Company”), a 50 : 50 joint venture company formed by MMC Corporation Berhad (Company No. 30245-H) and the Company, had on 31 March 2016 accepted the award of the Underground Works Package from Mass Rapid Transit Corporation Sdn Bhd (Company No. 902884-V) (“MRT Corp”) appointing the JV Company as the Works Package Contractor to undertake the Underground Works Package comprised in the KVMRT Project – SSP Line (“Project”). 


INFORMATION ON THE UNDERGROUND WORKS PACKAGE

The contract price of the Underground Works Package is approximately RM15.47 billion. 

The Underground Works Package comprises the design and construction of tunnels, ten (10) underground stations, fit out of one (1) existing station and other associated works in connection therewith for an approximate length of 13.5 km traversing from Jalan Ipoh North Escape Shaft to the Desa Waterpark South Portal. 

The Articles of Agreement between MRT Corp and the JV Company shall be executed in due course.


FINANCIAL IMPACT

The Underground Works Package is expected to contribute positively to the revenue and earnings of the Group for the financial year ending 31 July 2016.


DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and/or major shareholders of the Company and/or persons connected with them, has any interest, direct or indirect, in the Underground Works Package comprised in the Project.

Gamuda will make the necessary announcement to Bursa Malaysia as and when there is a material development in relation to the Underground Works Package of the Project.


This announcement is dated 31 March 2016.