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- MRCB said the project was awarded to its wholly owned subsidiary, Lembaran Prospek Sdn Bhd, and will span a development period of 48 months.
PETALING JAYA (May 16): Malaysian Resources Corporation Bhd (MRCB) has received a letter of acceptance from Menteri Besar Selangor (MBI Selangor) for the construction and completion of the new Kompleks Sukan Shah Alam (KSSA), valued at RM2.94 billion.
In a filing with Bursa Malaysia today, MRCB said the project was awarded to its wholly owned subsidiary, Lembaran Prospek Sdn Bhd, and will span a development period of 48 months.
The upcoming complex will feature a 45,000-seat stadium with a retractable pitch, two training fields, a three-way pedestrian walkway, public areas including a bazarena and running track, landscaped gardens with integrated flood mitigation systems, as well as the demolition of existing structures such as Stadium Malawati.
The project will be financed through a combination of land and cash. MBI Selangor will transfer land parcels worth up to RM200 million to Lembaran Prospek, while the remaining amount will be settled in cash.
If both parties fail to agree on the land value or transfer within the specified timeframe, the entire sum will be paid in cash.
MRCB said the development is expected to contribute positively to the future earnings of MRCB Group.
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