Date : 06 December 2011

OTHERS  PROJECT DELIVERY PARTNER AGREEMENT FOR RIVER OF LIFE PROJECT BETWEEN THE GOVERNMENT OF MALAYSIA AND EKOVEST-MRCB JV SDN BHD

MALAYSIAN RESOURCES CORPORATION BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionPROJECT DELIVERY PARTNER AGREEMENT FOR RIVER OF LIFE PROJECT BETWEEN THE GOVERNMENT OF MALAYSIA AND EKOVEST-MRCB JV SDN BHD
Further to the announcements made by Malaysian Resources Corporation Berhad (“MRCB” or “the Company”) on 23 February and 29 March 2011, the Company is pleased to announce that Ekovest-MRCB JV Sdn Bhd (“EMJV”) has today entered into a Project Delivery Partner (“PDP”) Agreement with The Government of Malaysia for the River of Life (“ROL”) Project. The appointment as the PDP is for a 3-year period. Being a PDP, EMJV, a 40% associate company of MRCB is to assist in the smooth implementation and delivery of the ROL Project.
The ROL project entails the river cleaning works, river beautification works and land development. EMJV will earn a maximum fee of 1% of the total estimated total ROL Project cost and will also enjoy monetary incentives with respect to the river rehabilitation and beautification works.
The transaction is not expected to have any material effect on the capital, earnings, net assets and gearing of MRCB for the financial year ending 31 December 2011.
None of the Directors and/or major shareholders of MRCB or any person connected to them have any interest, direct and/or indirect, in the above transaction. 


Announcement Info

Company NameMALAYSIAN RESOURCES CORPORATION BERHAD  
Stock Name MRCB    
Date Announced6 Dec 2011  
CategoryGeneral Announcement
Reference NoMR-111206-67761