Prasarana more concerned about weak ringgit


Closer collaboration: TFL Surface Transport managing director Leon Daniels (left) shaking hands with Azmi. Looking on are UK High Commissioner to Malaysia Vicky Treadell and Prasarana chairman Tan Sri Ismail Adam.

KUALA LUMPUR: Light rail transit (LRT) operator Prasarana Malaysia Bhd is more concerned about the impact of the weak ringgit than the recently revised foreign worker levy on the cost of the upcoming RM9bil LRT 3.

President and chief executive officer Datuk Azmi Abdul Aziz brought this issue up as the LRT 3’s costing was done in 2013 when the ringgit was stronger.

“This ringgit aspect only affects about 30% of the total cost in the form of the imported “software” part of the new urban rail line. “Basically, it revolves around the system works and signalling system of LRT 3. “The rest of the project is not affected by the currency fluctuation.

“Hopefully, the ringgit would have strengthened by the time we procure the software part of LRT 3,” he said,

He said this to the press after Prasarana signed a memorandum of understanding (MoU) with Transport for London (TFL).

TFL is a government body responsible for most aspects of the transport system in Greater London.

The MoU will pave the way for closer collaboration between the two parties to further boost services in both countries.

The parties would also establish a work-placement exchange programme involving senior officials from both organisations.

To date, Malaysian Resources Corp Bhd and George Kent (M) Bhd have been appointed as the project delivery partner (PDP) of LRT 3 from Bandar Utama to Klang. The PDP firms were appointed to ensure quality and avoid cost overruns.

Construction and awards for the 36-km LRT 3 will start anytime soon and the project is expected to be completed in 2020.

LRT 3 is the biggest project by development value to date overseen by Prasarana. It also oversees the RM7bil Kelana Jaya and Ampang Line LRT extensions.

Apart from the RM9bil development cost, Prasarana has also set aside RM1bil for land acquisition for the LRT 3 project. Besides the LRT network, Prasarana also operates the KL Monorail as well as the RapidKL, RapidPenang and RapidKuantan bus services.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Business , Prasarana , LRT 3 , MoU , Transport for London

   

Next In Business News

More new launches next year
Thailand scraps mortgage lending cap to support fragile economy
Full study on overhang situation proposed
Lawyer Sreesanthan to pay SC penalty of RM900,000
Digi Q3 profit at RM313mil
The Week That Was
Improved results for Pantech in Q2
CapitaLand hit by movement restrictions
Vitrox earnings surge on higher revenue
IGB sells stake in UK asset for RM600mil

Others Also Read


Vouchers