KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) said George Kent (M) Bhd
has accepted its RM53mil cash offer to buyout the company's stake in their joint venture.
MRCB-George Kent Sdn Bhd (MRCB-GK) is a single purpose company appointed the Prasarana Malaysia Bhd as the main contractor for the Light Rail Transit Line 3 (LRT 3) project.
MRCB made the offer to George Kent on Sept 14.
"The Acquisition will enable the company to have full control of MRCB-GK and is in line with the MRCB Group’s strategy to consolidate its core business in the engineering and construction sector," MRCB said in a filing with Bursa Malaysia today.
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