MRCB, George Kent among most active as LRT3 project gets govt nod

KUALA LUMPUR (Oct 18): Shares in Malaysian Resources Corp Bhd (MRCB) and George Kent (Malaysia) Bhd were among the five top actively traded stocks this morning after MRCB George Kent Sdn Bhd said the government has agreed to continue with the Light Rail Transit Line 3 (LRT3) project at a cost of RM16.6 billion — just slightly more than half of the earlier cost of RM31.45 billion in July.

At 9.38am, MRCB fell 2.52% or 2 sen to 77.5 sen with 33.26 million shares done while George Kent rose 3.51% or 4 sen to RM1.18 with 14.7 million shares traded.

The government’s nod for the project includes land acquisition costs, interests during construction and other costs.

"The implementation concept of the project will be remodelled from a project delivery partner (PDP) regime to a fixed price contract regime," said MRCB and George Kent. — theedgemarkets.com

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