KUALA LUMPUR (Feb 10): MRCB-George Kent Sdn Bhd aims to complete more than 40% of the Light Rail Transit Line 3 (LRT3) by the end of this year.
MRCB-George Kent's LRT3 project director Patrick Hwang Chee Leong spoke to theedgemarkets.com after signing the memorandum of understanding (MoU) with the Construction Industry Development Board (CIDB) today.
The MoU is to cement collaboration from both parties on environmental sustainability.
He explained that the LRT project is divided into civil works and system works, which have achieved 31% and 15% completion respectively.
Today, the LRT3 also became the first rail project in Malaysia to receive a five-star Sustainable INFRASTAR certification for environmental sustainability from CIDB.
According to the board, the main objective of Sustainable INFRASTAR is to ensure that infrastructure projects in Malaysia are being developed in a sustainable manner, taking into account sustainability elements such as the natural, social and economic environment from design stage until project completion.
"We are excited that CIDB Malaysia is recognising our effort to incorporate sustainable elements into the design portion of the project. We look forward to working with CIDB Malaysia to enable knowledge sharing on sustainable measures throughout our construction phase, said Hwang.
Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd each own a 50% stake in MRCB-George Kent through their subsidiaries.
At the noon market break, George Kent's share price was down half a sen or 0.59% at 85 sen, giving it a market capitalisation of RM478.78 million.
Meanwhile, MRCB's share price was one sen or 1.52% lower at 65 sen, bringing it a market capitalisation of RM2.87 billion.