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Damansara Realty, Chinese firm to jointly bid for JB-S'pore RTS project

KUALA LUMPUR (May 8): Damansara Realty Bhd is teaming up with China State Construction Engineering (M) Sdn Bhd (CSCEM) to tender for the 4km Johor Baru-Singapore Rapid Transit System (RTS) railway project.

Damansara Realty yesterday signed a memorandum of understanding with China State Construction Engineering Corp's subsidiary CSCEM to jointly bid for the RTS project, which connects Bukit Chagar station in Johor Baru to Woodlands in Singapore. The RTS is slated to be completed by end-2024.

"The MoU seeks to lead to a formal partnership between Damansara Realty and CSCEM if the tender is successful and proceeding on to a definitive agreement," said Damansara Realty in a statement today.

Damansara Realty shares closed up one sen or 2.15% at 47.5 sen today, with 13,500 shares done, bringing a market capitalisation of RM151.23 million. — theedgemarkets.com

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