MRCB wins RM369 mil DASH job

KUALA LUMPUR (Aug 16): Malaysian Resources Corp Bhd (MRCB) announced yesterday that it had secured a contract in relation to the construction of the Damansara-Shah Alam Elevated Expressway (DASH) for RM369 million.

In a Bursa Malaysia filing yesterday, MRCB said it received a letter of acceptance (LoA) on Monday from Turnpike Synergy Sdn Bhd to undertake and complete the contract dubbed “Package CB2: Construction and Completion of Mainline and Other Associated Works from CH.12453.000 to CH.14342.371” under “Projek Penswastaan Lebuhraya Bertingkat Damansara — Shah Alam”.

The Edge Financial Daily reported on July 24 that System Engineering Construction Sdn Bhd, which won the contract for the Damansara Perdana-Penchala Link portion of the DASH project for RM340 million last year, had pulled out from the job, with industry veterans claiming that the contracted sum of the job was now too low amid mounting cost pressures.

This same contract, sources told the daily yesterday, has now been won by MRCB under a retender.

DASH is a 20.1km three-lane dual carriageway connecting Puncak Perdana in Shah Alam to Damansara Perdana in Petaling Jaya. Turnpike Synergy is a unit of the expressway concessionaire Projek Lintasan Kota Holdings Sdn Bhd, which is in turn a unit of Permodalan Nasional Bhd.

The contract marks MRCB’s entry into DASH, after it failed in its bid for some RM700 million worth of jobs to develop the highway in 2016.

MRCB said the 26-month project is anticipated to commence by end-August this year, and be completed by October 2019.

In another statement, MRCB announced that it had received an LoA from Tenaga Nasional Bhd (TNB) to construct an Islamic hall and staff quarters at TNB’s headquarters in Jalan Bangsar here for a contract sum of RM40 million.

The project is the first phase of TNB’s campus workplace development at the headquarters, which is designed by global architecture firm Woods Bagot.

“The duration of the contract is 15 months from the date of site possession,” said MRCB.

MRCB shares settled three sen or 2.63% higher at RM1.17 yesterday, after 7.53 million shares were traded, giving it a market capitalisation of RM2.57 billion.

This article first appeared in The Edge Financial Daily, on Aug 16, 2017.

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