Gamuda, MMC rise in early trade

 Publish date: Thu, 11 Oct 2018, 11:27 AM

KUALA LUMPUR: Shares in Gamuda Bhd and MMC Corp Bhd rose in early trade today on potential further discussions and cooperation with the Finance Ministry to reach an agreeable cost reduction for the MRT 2 Underground Contract.

As at 10.45am, Gamuda jumped 16 sen to RM2.23 while MMC Corp gained three sen to RM1.15.

In a statement yesterday, MMC Gamuda KVMRT (T) Sdn Bhd, a joint venture between Gamuda and MMC Corp, said it welcomes the decision by the Prime Minister, Tun Dr Mahathir Mohamad, to review the cancellation of the MRT 2 Underground Contract with MMC Gamuda.

The JV company said it would adopt an open-book approach with the appointment of an international engineering consulting firm that possesses the necessary experience and track record in assessing tunnelling works around the world.

“Our request in return for the open-book approach is that our Intellectual Property rights and commercially sensitive information are duly respected as such by the said reviewing consultant and all reviewing parties, during the review process,” it added. - Bernama


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