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KUALA LUMPUR (May 26): The Employees Provident Fund's (EPF) wholly-owned unit Kwasa Land Sdn Bhd appointed Malaysian Resources Corp Bhd (MRCB) as project delivery partner (PDP) to develop the Kwasa Damansara township's main infrastructure.
Kwasa Damansara is a future township within 932ha (2,330 acres) in Sungai Buloh, Selangor. The Rubber Research Institute Malaysia was formerly located there.
In a statement, MRCB said its wholly-owned subsidiary MRCB Builders Sdn Bhd would earn a PDP fee of 5% of the development cost estimated at RM2.2 billion.
MRCB said the PDP work scope included project management related to the design, procurement and construction of the main infrastructure within 640ha (1,600 acres).
MRCB's statement was in conjunction with the PDP agreement signing ceremony here today.
Representing MRCB were group managing director Tan Sri Mohamad Salim Fateh Din and executive director Imran Salim. Imran is Mohamad Salim's son.
Representing Kwasa Land was managing director Datuk Mohd Lotfy Mohd Noh and senior general manager of corporate services Nor Hazqiah Che Idris.
Mohd Lotfy said: "Our PDP has vast experience and an excellent track record in major infrastructure works. This relationship as partners is now clearly stamped for us to proceed with work on this exciting new township."
MRCB's share trade has been suspended from 9am to 5pm today. Yesterday, the stock closed at RM1.17 for a market capitalisation of RM2.21 billion. -- theedgemarkets.com
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