MRCB, Berjaya Land and IJM confirm in consortium to bid for KL-Singapore HSR project

• Sources said other technical members of the consortium include Japan’s Hitachi Rail STS, which specialises in providing signalling systems, Hyundai Rotem Co, a South Korean company that manufactures rolling stock, and German rail operator Deutsche Bahn AG’s unit DB Engineering & Consulting GmbH.

KUALA LUMPUR (Jan 26): Malaysian Resources Corp Bhd (MRCB), Berjaya Land Bhd (BJLand) and IJM Construction Sdn Bhd (IJM) confirmed that they are in a consortium, together with Keretapi Tanah Melayu Bhd (KTMB), to bid for the Kuala Lumpur-Singapore high-speed rail (HSR) project.

In a bourse filing on Friday, MRCB said the company has signed a teaming agreement with Berjaya Rail Sdn Bhd, a subsidiary of Berjaya Land Bhd, to be part of the Berjaya HSR Consortium on Dec 13, 2023.

It said the purpose of the agreement was to submit a non-binding conceptual proposal to MyHSR Corporation Sdn Bhd, pursuant to the Request for Information (RFI) Conceptual Proposal for the HSR project.

“The parties will enter into a definitive agreement in the event the consortium is successful in securing the project,” it added.

Both Berjaya Land and IJM have also confirmed the formation of the consortium, adding that the concept proposal for the KL-Singapore high-speed rail project was submitted on Jan 15, 2024.

This confirms a news report in theedgemalaysia.com on Thursday (Jan 25).

According to the news report, sources said other technical members of the consortium include Japan’s Hitachi Rail STS, which specialises in providing signalling systems, Hyundai Rotem Co, a South Korean company that manufactures rolling stock, and German rail operator Deutsche Bahn AG’s unit DB Engineering & Consulting GmbH.

Following the news, MRCB emerged as the most active stock on Bursa Malaysia on Friday, recording its all-time high in terms of trading volume with 267.3 million shares changing hands. Its share price was up by seven sen or 12.1% to 65 sen at Friday’s close.

Meanwhile, Berjaya Land saw its trading volume spike to a two-year high with 112.1 million shares traded on Friday. Its share price went up by eight sen or 21.3% to 45.5 sen at Friday’s close. IJM Corp also saw its share price up by five sen or 2.29% to RM2.23 with a trading volume of 18.2 million shares.

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