PETALING JAYA, May 3 — The consortium of Gamuda Bhd and Malaysian Resources Corp Bhd (MRCB) has accepted a letter of appointment (LoA) from MyHSR Corp Sdn Bhd as the project delivery partner (PDP) for the northern section of Kuala Lumpur-Singapore high-speed rail project.
Both Gamuda and MRCB confirmed the LoA award in separate filings with Bursa Malaysia yesterday.
The consortium said it received MyHSR’s letter of intent about the northern PDP package on April 5.
In the northern portion, the rail runs from Bandar Malaysia station to the first standard viaduct pier on the south side of Melaka Station.
The appointment of both companies depends on the submission of two conditions to MyHSR within 14 days from the date of the LoA.
The companies will have to provide a RM5 million commitment bond and a corporate guarantee from their respective parent company for the undertaking.
Upon fulfilment of the conditions, an agreement will be drawn up between the consortium and MyHSR by June 1.
According to The Star, MRCB and Gamuda said the project would not have any significant effect on their earnings and net assets in 2018 but expected to contribute positively to their future earnings.
