KUALA LUMPUR (March 6): A portion of the Light Rail Transit Line 3 (LRT3) that links Bandar Utama to Johan Setia has a new revised contract price of RM536.8 million, following a remodelling of the project.
According to a filing to Bursa Malaysia today, TRC Synergy Bhd said its wholly-owned subsidiary, Trans Resources Corp Sdn Bhd (TRC), has signed a supplemental agreement with MRCB George Kent Sdn Bhd (MGK) today.
“Under the remodelled LRT3 project, the design and scope ... has changed, and with this, a new revised contract price of RM536.8 million [has been] agreed between TRC and MGK,” said the filing.
Following the amendment to the project and a new completion date of November 2023, MGK is now the main contractor appointed by Prasarana Malaysia Bhd, said TRC.
In July 2018, the government had approved the continuation of the LRT3 project at a final cost of RM16.63 billion, a 47% reduction from RM31.65 billion.
Last month, MGK said this line is now 27% completed, and it aims to complete more than 40% of LRT3 by the end of this year.
Shares in TRC Synergy closed one sen or 2.7% lower at 36 sen today, valuing the company at RM172.98 million. Over the past year, the counter’s share price has more than halved from 76 sen on April 22, 2019.