MMC Corp, Gamuda extend gains on formalising role as turnkey contractor in MRT2

KUALA LUMPUR (Jan 20): Shares in MMC Corp Bhd and Gamuda Bhd rose this morning after the two groups last Friday formalised their roles in the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (SSP) line (MRT2) as joint turnkey contractor, from project delivery partner (PDP) previously.

At 9.09am, MMC Corp added 0.51% or 0.5 sen to 99.5 sen, valuing it at RM3.03 billion, while Gamuda rose 2.19% or 9 sen to RM4.19, valuing it at RM10.38 billion.

The partners said their joint venture (JV) unit MMC Gamuda KVMRT (PDP SSP) Sdn Bhd (MMC-Gamuda) has inked a supplemental agreement to the PDP agreement with Mass Rapid Transit Corp Sdn Bhd (MRT Corp).

The supplemental agreement is to formalise the role of MMC-Gamuda to deliver and be responsible for the design, execution and completion of the entire SSP Line (for both above ground and underground) on a turnkey basis.