Scomi forms joint venture to bid for rail projects

In a filing with Bursa Malaysia, Scomi said that under the JV agreement, it would hold a 51% stake in the company that would be incorporated later, while RCA would own the remaining 49% stake.

PETALING JAYA: Scomi Group Bhd plans to form a joint-venture (JV) company with RC Asia Engineering Sdn Bhd (RCA) to collectively bid tenders for the construction of railway stations, tracks or other related infrastructure in the rail industry.

In a filing with Bursa Malaysia, Scomi said that under the JV agreement, it would hold a 51% stake in the company that would be incorporated later, while RCA would own the remaining 49% stake.