Much of Penang TMP riding on results of due process, says Gamuda chief

KUALA LUMPUR (Dec 7): The successful implementation of the RM27 billion Penang Transport Master Plan will be pretty much dependent on the outcome of the due process exercise on the plan, says Gamuda Bhd group managing director Datuk Lin Yun Ling (pictured).

Gamuda holds 60% in SRS Consortium, which was appointed as the Project Delivery Partner for the plan, along with Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd, which each hold a 20% stake in the consortium.

“The due process will involve impact studies to done, such as the impact on the environment and the social impact as well, and I must stress that will need to be done in a very transparent manner, hence the results of these studies will be shared with the public once completed,” he told reporters after Gamuda’s annual general meeting today.

He added that the due process exercise which has already commenced by an independent consultant appointed by the Penang state government, will take a duration of six months to complete.

“The due process will outline both advantages and disadvantages of the TMP to people of Penang,and the Penang state government is already having sessions with certain stakeholders on the TMP proposal,” said Lin.

He noted that that is important that overwhelming support is received from the people of Penang for the project for it go ahead.

Gamuda Bhd shares closed up 12 sen or 2.63% to RM4.69 in the morning trade, with 1.21 million shares traded and a market capitalisaiton of RM11.28 billion. -- theedgemarkets.com