Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Tuesday, July 5, 2011

Scope of MRCB’s green project to clean up KL rivers yet to be known

PETALING JAYA: The exact scope of Malaysia Resources Corp Bhd (MRCB)'s involvement in the much-anticipated River of Life project, which aims to revitalise and transform the city's dirty rivers, is yet to be made known.

OSK Research said as a result of that, it was unable to estimate the financial impact of the project on MRCB. “Nevertheless, we believe the project will provide a sizeable future earnings enhancement to MRCB. Apart from becoming the project delivery partner (PDP) with Ekovest Bhd, we do not rule out the possibility of MRCB being appointed one of the contractors to undertake the river cleaning project,” it said in a report yesterday.

MRCB declined to comment on its involvement in the project when contacted by StarBiz yesterday.

Last Friday, Prime Minister Datuk Seri Najib Tun Razak launched the project which sought to transform the Klang and Gombak rivers into iconic waterfronts on par with waterways in cities like Amsterdam, London, Melbourne and Paris by 2020.

The RM4bil project is divided into three parts river cleaning, which would involve a 110km stretch along the Klang river basin; river beautification along a 10.7km stretch by the Klang and Gombak river corridor including pedestrian walkways; and corridor development.

OSK Research in earlier news reports stated that RM3bil had been allocated for the clean-up of the rivers with the balance for beautification works.

MRCB and Ekovest had told Bursa Malaysia in late February that the EkovestMRCB joint-venture (JV) had received a letter of intent (LOI) from the Government via Datuk Bandar Kuala Lumpur for the River of Life project.

The LOI, dated Feb 22, indicated the intention of the Government to obtain the services of the Ekovest-MRCB JV as the PDP for the project.

The River of Life project is an Entry Point Project identified in the Greater Kuala Lumpur/Klang Valley National Key Economic Area under the Economic Transformation Programme.

By The Star

No comments: