Part of LRT3 contract price revised to RM536.8mil

Construstion worker workers are busy building the 37-kilometer LRT3 (initial name) or LRT Bandar Utama–Klang line.-Art Chen/The Star.

KUALA LUMPUR: The contract price for a part of the remodelled Light Rail Transit Line 3 (LRT3) has been revised to RM536.8mil versus its earlier price tag of RM760.55mil, TRC Synergy Bhd said.

TRC told Bursa yesterday that its wholly-owned subsidiary Trans Resources Corp Sdn Bhd signed a supplemental agreement with joint venture company MRCB George Kent Sdn Bhd (MGK).

“Under the remodelled LRT3 project, the design and scope... has changed, and with this, a new revised contract price of RM536.80mil (was) agreed between TRC and MGK, ” said the filing.

Known as package TD2, it involves the construction of the Johan Setia depot (phase 2) and associated works for the line from Bandar Utama to Johan Setia.

The filing also said that as a result of the amendment to the project and a new completion date of November 2023, MGK is now the main contractor appointed by Prasarana Malaysia Bhd.

To recap, TRC had on Aug 29,2017 accepted the award from Prasarana for package TD2 for a contract sum of RM760.55mil (inclusive of 6% GST).

Shares in TRC Synergy closed one sen or 2.7% lower at 36 sen yesterday, valuing the company at RM172.98mil.

Over the past year, its share price has more than halved from 76 sen on April 22,2019.