KUALA LUMPUR: Knusford Bhd has signed a joint venture (JV) agreement with Pembinaan Hamid Abd Rahman Sdn Bhd (PHAR) to combine resources for the purpose of submitting a prequalification and/or tender for the Klang Valley mass rapid transit (MRT) Sungei Buluh-Kajang line.

The Pembinaan Hamid Abd Rahman Sdn Bhd-Knusford Bhd JV is also to bid for the completion of elevated civil works packages.

In a filing with Bursa Malaysia on Monday, Knusford said it would hold a 40% stake in the JV and PHAR 60%.

The JV is not expected to have any material effect on the earnings, net assets per share and gearing of Knusford for the financial year ending Dec 31, 2011. — Bernama

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