Reference is made to our announcement dated 22 February 2019 in relation to the Novation Agreement between Mudajaya Corporation Berhad (“MCB”), a wholly-owned subsidiary of Mudajaya, and MRCB George Kent Sdn Bhd (“MRCB George Kent”) to undertake the construction and completion of guideway, stations, park and ride, ancillary buildings and other associated works for Package GS01 for the construction and completion of Light Rail Transit Line 3 (LRT3) from Bandar Utama to Johan Setia (“LRT 3 Project”).

We wish to announce that MCB has on 26 March 2021, executed an Articles of Agreement (“Agreement”) with MRCB George Kent, following the appointment of MRCB George Kent as the turnkey contractor for the LRT 3 Project, as a result of the change in the LRT 3 Project’s structure from a project delivery partnership to a turnkey pursuant to a contract between Prasarana Malaysia Berhad and MRCB George Kent.

Pursuant to the Agreement, the scope of works of the LRT 3 Project has been revised and agreed with the salient amendments, as follows:

(a)  The design and scope of the LRT 3 Project have changed and with this, a new revised contract price of RM655 million was agreed upon between MCB and MRCB George Kent; and

(b)  The revised completion date for the LRT 3 Project is 30 November 2023.

This announcement is dated 26 March 2021.