HSS Engineers lost RM290mil job after MRT 3 project cancelled


The RM50m contract for Metronic Global is more than 125% of its latest annual published consolidated revenue.

KUALA LUMPUR: HSS Engineers Bhd says its contract as the independent consultant engineer for the Mass Rapid Transit Line 3 (MRT 3) had been terminated by Mass Rapid Transit Corp Sdn Bhd.

The termination notice came following the Government’s decision not to proceed with the project, the company said in a filing with Bursa Malaysia today.

HSS Engineers was awarded the contract, valued at RM289.9mil on April 12.

“The decision is not expected to have any significant impact on the operations and financials of the company given that only preliminary works have commenced this far, which will be compensated for in accordance with the terms and conditions of the contract,’ it said.

The Government had on May 31 announced the decision to scrap the MRT 3 or circle line project, which was reported to cost between RM40bil and RM45bil.

MRT 3 was planned as a loop line to integrate the lines, with most of its stations underground.

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