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Business

Gamuda, MMC shares fall

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

PETALING JAYA: Gamuda Bhd and MMC Corp Bhd’s shares tanked, following the government’s announcement that its joint-venture (JV) company had been terminated as the contractor for the underground portion of the Mass Rapid Transit Line 2 (MRT2) project.

Both companies saw some RM1.93bil (Gamuda) and RM671mil (MMC) being shaved off from their market capitalisation in yesterday’s trade.

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Business , Gamuda , MMC Corp , IJM , construction , MRT2 , government , contract cancellation , contract revision

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