KLSE (MYR): YTL (4677)
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hng33
20,534 posts
Posted by hng33 > 1 month ago | Report Abuse
Last week, MRCB confirmed the termination of a teaming agreement it had with a consortium led by the Berjaya Group. The consortium was set up to put together a non-binding conceptual proposal for MyHSR Corporation Sdn Bhd regarding potential strategic opportunities.
According to reports, MRCB, which carries an AA-IS rating, likely withdrew from the multi-billion ringgit project given the massive financial risks which the company’s shareholders, which include the Employees Provident Fund, Retirement Fund Inc (KWAP) and Tabung Haji, would have been exposed to.
Reports have also suggested that MRCB, which has spearheaded large transport infrastructure projects such as the development of LRT3, made its decision after rumours suggested that a joint venture between YTL Construction and SIPP Rail would likely win the bidding exercise.