Sunway Construction has signed the Letter of Acceptance issued by Malaysia Rapid Transit System Sdn Bhd in respect of the proposed construction and completion of Package 1B Advance Works for Station and Viaducts and Package 5 Terrestrial Viaducts and Ancillary Structures for Project Rapid Transit System Link between Johor Bahru and Singapore (“RTS Link
Project”).
The total contract sum for the RTS Link Project is RM604.8 million and is expected to be completed within a period of 26 months by the second quarter of 2025.
The RTS Link project is subject to the normal construction risk of material price fluctuations, however, SunCon says with past experience and expertise in construction projects, these risks could be mitigated.
The RTS Link Project is not expected to not have any effect on the share capital and substantial shareholders’ shareholding of SunCon as it does not involve any allotment or issuance of new shares by SunCon.