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KUALA LUMPUR (Dec 24): WCT Holdings Bhd said it has executed a contract contract with MRCB George Kent Sdn Bhd (MRCBGK), following the latter’s appointment as turnkey contractor for the Light Rail Transit 3 (LRT3) project , which implies a revision of the scope of the works and a new contract price of RM819 million.
In a bag presentation, the group said the review relates to the GS02 and GS03 packages, which were previously awarded to WCT in 2017 with contract sums of RM840 million and RM640 million respectively.
However, following changes to the design and scope of the LRT3 project, both WCT and MRCBGK agreed on a new revised contract price of RM819 million. The completion date for the LRT3 project has also been revised to November 30, 2023, WCT said.
WCT did not elaborate on the amendments to the work packages.
On August 29, 2017, the group received the acceptance letter issued by Prasarana Malaysia Bhd for the GS03 package, which involves work for the LRT3, including the construction of a guideway from Suria Damansara to Temasya Glenmarie.
Two months later, it announced the award of the GS02 package, which involves the construction of a guideway from Merchant Square to Suria Damansara.
WCT rose 0.5 sen or 0.95% to 53 sen, giving a market capitalization of RM751.6 million.
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