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BUSINESS

HSS Engineers JV to provide management consultancy services for MRT3

05/08/2022 12:21 PM

KUALA LUMPUR, Aug 5 (Bernama) -- HSS Engineers Bhd said a joint-venture (JV) between HSS Integrated Sdn Bhd (HSSI) and HSS Engineering Sdn Bhd (HSSE) has been appointed as the management consultancy services provider for the Mass Rapid Transit 3 (MRT3) Circle Line project valued at RM997.9 million. 

HSS Engineers said the JV, between its associate company, HSSI, and its wholly-owned subsidiary, HSSE, have accepted the Letter of acceptance from MRT Lingkaran Sdn Bhd on Thursday.

The contract commenced yesterday for 11 years, it said in a filing to Bursa Malaysia. 

The JV’s role is to manage the delivery of a fully designed, procured, constructed and integrated project to MRT Lingkaran.

"The project is expected to contribute positively to the revenue, earnings and net assets of group for financial years ending Dec 31, 2022 to Dec 31, 2033," it noted.

Meanwhile, trading in the shares of HSS Engineers resumed at 10 am today after been halted for one hour, following the aforesaid announcement.

At 12 pm, HSS Engineers’ shares rose 1.0 sen to 50 sen, with 1.43 miliion units transacted.

-- BERNAMA


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