MMC-Gamuda in the dark over MRT2 underground deal


The Kuala Lumpur MRT project was the first to use the variable density boring machine for the underground portions of the multi-billion-ringgit project in 2013. The second phase of the project is now facing delays as the cost escalates. – EPA pic, October 8, 2018.

MMC-GAMUDA, the developer of the Mass Rapid Transit Line 2 (MRT2), said it has not received official confirmation of the Finance Ministry’s decision to cancel and issue a new tender for the underground portion of the project.

It also offered a RM2.3 billion reduction in cost on the uncompleted portion of the underground tunnelling during negotiations with Putrajaya over the last two months, it said in a statement today.


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Comments


  • It also offered a RM2.3 billion reduction in cost on the uncompleted portion of the underground tunnelling...
    Imaging if there wasn't a change of government this greedy company has already assured of extra 2.3 billion in their account. Should ban them from future project.

    Posted 1 year ago by Chee yee ng

  • Imagine MMC-Gamuda can give a reduction of RM2.3 billion from the total costs.. this is not only outrageous but also criminal. That is a hefty sum for a discount!! Making profits is one thing, but this is ridiculously criminal.
    MACC, Auditor-General should investigate this MMC & Gamuda and ban it from rendering future projects.. Not only that but trace which DUMNO/BN warlords are connected to them..
    All BN crony companies are milking the nation dry!!

    Posted 1 year ago by Thiruchelvam Thirunavukarasu

  • Those with vested interests in the status quo are rarely appreciative of radical reform! Not easy to govern a country without being pressured into becoming more & more corrupt. The day must come when humans will be forced to reassess their perception of reality itself... or make themselves extinct or irrelevant. In the meantime, we may have to accept many compromises - but let us be guided by win-win formulas at every turn.

    Posted 1 year ago by Antares Maitreya

  • RM2.3b is not a discount but a reduction in scope. This means the tunnel is still wau overpriced because no one was looking at the scope prior to this. Has MRTCo looked at different scenarios including cash flows when considering MMC-Gamuda? Was RM15.47b the best value for money?

    Posted 1 year ago by Roger 5201

  • Hello, this is a straight forward business decision. Don't bring bumiputra equation into the story!

    Posted 1 year ago by Teh Ewe Leng