Under the new agreement, Scomi Engineering will also be delivering 12 sets of new four-car trains to Prasarana for the project. Additionally, under this third supplemental contract, both parties have agreed to appoint an independent consultant to resolve all claim issues,” Scomi Engineering said. Last June, Scomi Engineering dragged Prasarana to the High Court after Prasarana warned it would terminate its contract over alleged dissatisfaction with its work. STP will complete the project within the time that it is entitled to, under the third supplemental contract, Scomi Engineering added in its bourse filing. Scomi Engineering shares closed 0.5 sen or 1.23% higher at 41 sen today, giving it a market capitalisation of RM140.2 million.

Source: The Edge Markets March 03, 2017 12:56 UTC