Prasarana knows initial RM10b cost estimate for LRT3 ‘inadequate’
KUALA LUMPUR (July 16): Prasarana Malaysia Bhd, which has been blamed by the finance ministry (MoF) recently for poor management which resulted in a jump in the Light Rail Transit 3 (LRT3) project cost, said it had known the initial projected RM10 billion cost for the project was “inadequate”.
George Kent and MRCB see active trading on news of LRT3 continuation
KUALA LUMPUR (July 13): Shares of Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd were among the most active counters in the morning trade today, as the Pakatan Harapan led-government gave the green light to carry on the light rail transit 3 (LRT3) project yesterday.
Putrajaya approves continuation of LRT3 at a final cost of RM16.63 billion
KUALA LUMPUR (July 12): The Pakatan Harapan government has approved the continuation of the light rail transit 3 (LRT3) project (pictured) at a final cost of RM16.
‘Government to work with PDP to lower LRT3 cost’
KUALA LUMPUR (July 12): The government has decided that Prasarana Malaysia Bhd will not be taking over the light rail transit line 3 (LRT3) project from the appointed project delivery partner (PDP), nor will it be calling it off.
Prasarana to work closely with MoF, PDP in LRT3 cost reduction
KUALA LUMPUR (July 11): Prasarana Malaysia Bhd said today it will work closely with the Ministry of Finance and both its Project Delivery Partners to bring down the total cost of the light rail transit line (LRT3) project.
Finance minister: Prasarana has to slash more than RM6b for LRT3
KUALA LUMPUR (July 10): The Ministry of Finance will not provide additional funding for the Light Rait Transit 3 (LRT3) project unless cost “is significantly rationalised without compromising on the integrity of the rail network as well as the safety and the quality of service provided,” finance minister Lim Guan Eng (pictured) said in a press release today.
Low construction visibility seen in medium term
Construction sector Maintain neutral: The Kuala Lumpur Construction Index plunged 26.
IJM shares fall to 9-year low as MRT3 scrapped, slump in 4Q earnings
KUALA LUMPUR (May 31): Shares in IJM Corp Bhd fell as much as 10.