HSS unit receives termination letter for MRT3 contract

June 7, 2018 | By | Reply More

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PETALING JAYA: HSS Engineers Bhd’s associate HSS Integrated Sdn Bhd (HSSI) has received a termination letter for its role as the independent consultant engineer for the Mass Rapid Transit Line 3 (MRT3) project.

It said HSSI had on June 7 received a 30-day written notice from MRT Corp Sdn Bhd terminating the contract following the government’s decision not to proceed with the project.

HSS does not foresee any significant impact on its operations and financials given that only preliminary works have commenced this far, which will be compensated for in accordance with the terms and conditions of the contract.

Its shares fell 2 sen or 3% to close at 65 sen today on some 7.09 million shares done.  
 

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