T7 Global drops one con­sor­tium part­ner in ECRL job bid

The Sun (Malaysia) - - MEDIA & MARKETING -

PETALING JAYA: T7 Global Bhd has dropped China State Con­struc­tion En­gi­neer­ing (M) Sdn Bhd as a con­sor­tium part­ner in its bid for the Tereng­ganu por­tion of the East Coast Rail Line, opt­ing to go ahead with only Tereng­ganu state govern­ment-linked Eastern Pa­cific In­dus­trial Corp Bhd (EPIC), and CMC En­gi­neer­ing Sdn Bhd.

No rea­son was given for the ex­clu­sion of the sub­sidiary of China State Con­struc­tion En­gi­neer­ing Corp Ltd in Malaysia.

“The MoU will pro­vide an op­por­tu­nity for the par­ties to es­tab­lish col­lab­o­ra­tion based on re­spec­tive party’s ex­per­tise and strengths. EPIC, CMC and T7 de­sire to col­lab­o­rate as a con­sor­tium to un­der­take the con­struc­tion of the project,” T7 said in a stock ex­change fil­ing yes­ter­day, stat­ing that it has 12 months to do so.

The par­ties also aim to en­ter into a for­mal busi­ness col­lab­o­ra­tion agree­ment, de­tail­ing re­la­tions and full obli­ga­tions of the par­ties on the ba­sis of this MoU in ac­cor­dance with the con­tracts from the fed­eral govern­ment.

“Should the col­lab­o­ra­tion ma­te­ri­alise, it is ex­pected to con­trib­ute pos­i­tively to the fu­ture earn­ings of T7.”

T7 closed un­changed at 59 sen yes­ter­day with 2.38 mil­lion shares done.

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