At 5pm yesterday, Gamuda saw its share price increasing by more than 11% to close at RM2.30, while MMC Corp increased one sen to RM1.13. Yesterday, Economic Affairs Minister Datuk Seri Mohamed Azmin Ali (pic) confirmed that a committee had been set up to consider the project’s costing, design and details. Meanwhile, a source said Gamuda would be setting up a task force of its own to handle negotiations regarding the MRT2 project. Earlier yesterday, quoting a source, StarBiz reported that the Cabinet had set up a committee comprising four ministers to revisit the project. According to Pua, prior to the MoF’s decision to terminate the contract, MMC-Gamuda had agreed to a cost reduction of RM2.13bil to the contract value of RM16.71bil.
Source: The Star October 11, 2018 23:26 UTC