PETALING JAYA: HI Mobility Bhd has been appointed the network operator for the intra-city bus service in Johor Baru and surrounding areas, worth RM134.94mil.
In a filing with Bursa Malaysia, HI Mobility said the appointment is pursuant to the Stage Bus Service Transformation Programme awarded by Agensi Pengangkutan Awam Darat.
“The project will not have any effect on the share capital and shareholding structure of the company.
“However, the project is expected to contribute positively to the earnings and net assets of the company throughout its tenure.”
HI Mobility said the project is in the ordinary course of business and is not expected to expose the group to any new risks, as it is already involved in the provision of bus services.
“The risk factors affecting the project include, amongst others, execution risks such as availability of manpower, operational efficiency and regulatory licences.
“Nevertheless, the group will undertake all the necessary efforts to mitigate the various risk factors identified as it has an established track record and expertise to undertake and execute the project.
