We refer to our announcements dated 29 October 2014, 13 July 2015, 31 March 2016, 8 October 2018 and 26 October 2018 (“Announcements”) in relation to the KVMRT SSP Line.   

MMC Corporation Berhad (“MMC”) wishes to announce that MMC Gamuda KVMRT (PDP SSP) Sdn Bhd (“PDP SSP”) and MMC Gamuda KVMRT (T) Sdn Bhd (“Tunnelling JV”), both being 50% joint venture companies established between MMC and Gamuda Berhad, have today entered into the following agreements respectively with Mass Rapid Transit Corporation Sdn Bhd (“MRT Corp”):

1. Supplemental Agreement to the PDP Agreement between PDP SSP and MRT Corp; and
2. Novation Agreement between PDP SSP, Tunnelling JV and MRT Corp.

The execution of the aforesaid agreements is to among others, formalise the role of PDP SSP to deliver and be responsible for the design, execution and completion of the whole of the KVMRT SSP Line (for both above ground and underground) on a turnkey basis. The lump sum construction cost remains at RM30.53 billion, as stated in our announcement of 26 October 2018.

The execution of the aforesaid agreements is not expected to have any material effect on the earnings, net assets and gearing of MMC Group for the financial year ending 31 December 2020.

None of the directors or major shareholders of MMC, or persons connected with them have any interest, direct or indirect, in the execution of the aforesaid agreements.

MMC will make further announcements if there are any material developments on the above matter.

This announcement is dated 17 January 2020.