Malaysian Resources Corporation Berhad (MRCB) clarified that it has not finalised the terms of the definitive agreement for the redevelopment of Shah Alam Stadium, in relations of an article published by an online news portal on Feb 6.
In a Bursa filing today (Feb 16), the construction and property development company said that in relations to the article titled “Shah Alam Stadium to be demolished by mid-2025”, the yet-to-be-finalised agreement for redevelopment is different than the demolition contract.
“The company will make the appropriate and timely announcements to Bursa Malaysia Securities Berhad (Bursa Securities) as and when the terms of the agreement have been finalised, in accordance with Bursa Securities’ corporate disclosure policies,” it said.
However, the company confirmed that on Feb 6, it had, via its wholly-owned subsidiary Lembaran Prospek Sdn Bhd, signed a demolition contract with Menteri Besar Selangor Incorporated (MBI) to undertake the demolition works of the Shah Alam Stadium at a provisional contract value of RM35 million.
The article in question was quoting Selangor Menteri Besar Amirudin Shari who said the demolition works will start with hoarding and preparation works, which he said will start the next day from Feb 6.
The article had reported that Shah Alam Stadium will fully demolished by mid-2025 and that the complex is expected to be ready by 2026.
The report also cited Amiruddin, saying that he ‘stressed that all parties involved in the redevelopment of the Shah Alam Stadium must meet the standards set by state and local authorities’.
