MRL refutes Edge report as ‘incorrect and misleading’

KUALA LUMPUR: Malaysia Rail Link Sdn Bhd (MRL), the East Coast Rail Link (ECRL) project owner, has refuted reports that the main contract given to China Communications Construction Company Ltd (CCCC) was the “handiwork” of Low Thaek Jho.

The Edge Weekly had claimed that the contract came with a clause requiring CCCC to nominate a company unrelated to it to buy 70 per cent of Putra Perdana Bhd for US$244 million (RM973.6 million) and 90 per cent of Loh & Loh Corp Bhd for US$71 million.

The two companies had been linked to the Penang-based businessman Low, more commonly known as Jho Low.

MRL said the report was “completely incorrect and misleading”.

“It is a baseless and irresponsible allegation. There is no contract between CCCC and MRL that stipulates this clause. Neither does this clause appear in the loan agreement between MRL and the Export-Import Bank of China.”

It said as project owner of the 688km ECRL, the inaccurate information in the article potentially ruined its reputation and cordial relationship with CCCC.

MRL said the realisation of the long overdue ECRL infrastructure project was done on a government-to-government deal.

It mooted the setting up of a special purpose vehicle company to oversees its implementation.

To date, the ECRL is 14.33 per cent complete. This include setting up of base and satellite camps in all eight sections of the project, land acquisition, site clearing and construction of road access.