KUALA LUMPUR: HSS Engineers Bhd said it has agreed to reduce its consultancy fees for the Mass Rapid Transit 2 (MRT2) project.
The company, in a filing with Bursa Malaysia today, said the RM29.6mil reduction to RM158.68mil was in line with revised scope of work for the project.
"The revised contract is expected to continue to contribute positively to the revenue, earnings and net assets of HSS Engineers group for financial year ending Dec 31, 2019 to Dec 31, 2022," it said.
The company, in July 2015, was appointed by Mass Rapid Transit Corp Sdn Bhd (MRT Corp) to provide independent consultant engineer services for MRT 2 Sungai Buloh-Serdang-Putrajaya project.
The original RM188.29mil contract was to be completed within the first quarter of 2022.
However, the scope of the project was revised in October last year by the government.
The decision to reduce the cost of the project by converting the project delivery partner (PDP) model to a turnkey contract means MRT Corp has to change the scope of work for the independent consultant engineer.
This resulted in the reduction of the value of the contract.
HSS Engineers said it has accepted the amended terms of the contract from MRT Corp on May 10.