KUALA LUMPUR: George Kent (M) Bhd has furnished a bank guarantee of RM50.88mil to Syarikat Prasarana Negara Bhd as the performance bond to undertake the Ampang Light Rail Transit (LRT) contract.
In a statement yesterday, George Kent executive director Dr Cheong Thiam Fook said the payment clearly debunked mischievous allegations that the company lacked the financial muscle to undertake the 44-month national infrastructure project.
“We have the necessary financing in place to complete the contract, on which preliminary work has already started,” he added.
The Ampang LRT contract entails the engineering, procurement, construction, testing and commissioning of the signalling system, communication, track work and third rail, electrification of the rail system and other associated works for the 17.7km extension, connecting the current Sri Petaling station to Putra Heights.
Source: The Star Dated: 16/08/2012
