MRCB shortlisted for incinerator project

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) said it has been shortlisted for the 1,000-tonne-per-day waste-to-energy incinerator project in Taman Beringin, Kepong, which is estimated to cost up to RM800 million.

This confirms The Edge Financial Daily’s report on Monday, which quoted industry sources as saying that the group had been shortlisted, together with Puncak Niaga Holdings Bhd, UEM Environment Sdn Bhd and DRB-Hicom Bhd, beating 29 other competitors.  It is said MRCB will team up with South Korea’s Hyundai Rotem Co to  bid for the concession, which may be for up to 30 years.

MRCB chief financial officer Ann Wan Tee was quoted as saying in a Bernama news report yesterday that the group is expected to submit its bid to the government in November.

“We are putting our best effort to win the tender. We are ‘fighting’ against other bigger boys as well, let’s see whether we can win it. It is going to be a concession. We do not know how long the government would give the concession [but] to build [the incinerator], it will take three to four years,” Ann reportedly told newsmen after the group’s extraordinary general meeting.

MRCB’s tender book stands at about RM1.1 billion for its construction arm and RM1.8 billion for its property arm. On the development of the first parcel of the Kwasa Damansara project, Ann said the land is still under the condition precedent period as the group and Kwasa Land Sdn Bhd are required to get certain approvals.

“We are going to have a couple more EGMs  ... because the agreement is quite sizeable,” he was quoted as saying by Bernama.  

This article first appeared in The Edge Financial Daily, on September 24, 2014.

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