AWC said on Tuesday to date, it had not received any payments from theGgovernment for the original contract – which was awarded in June 2016 – while it had also incurred minimal expense.
The fee for the maintenance of the bus terminal was to be about RM130mil over the maintenance period of five years. The subcontract would be from Sept 1, 2016 and ending on Aug 31, 2021.
AWC acknowleged the termination would “negatively impact AWC’s financial performance over the intended duration of the original contract”.
However, AWC said the impact was expected to be minimal as it had secured other new contracts over the last three months.
The terminal is the new main long distance bus terminal in Kuala Lumpur, Malaysia. It is integrated with Bandar Tasik Selatan Rail Interchange Station (BTS). Together this will form the TBS-BTS 24 hour integrated transportation hub.
The TBS was built to relieve the heavily congested Pudu Sentral bus station (previously known as Puduraya Bus Terminal) located in the city centre. TBS started operations on Jan 1, 2011.
This subcontract would have extended the AWC Group’s involvement in the commercial and healthcare segments.