August 12, 2011 13:06 PM

Public-Listed Contractors Stands Better Chance Of Securing MRT Projects

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By: Ramjit

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KUALA LUMPUR, Aug 12 (Bernama) — Public-listed contractors or companies are likely to stand a better chance of securing contracts for the My Rapid Transit (MRT) projects, says OSK Research.

This is possible, it said, given their stronger financials and experience with larger scale jobs.

On Thursday, Syarikat Prasarana Negara Bhd short listed 28 individual and joint-venture companies that are eligible to bid for various elevated civil works, stations and depot packages for the MRT project.

“In total, 14 of the 28 pre-qualified names are listed contractors,” the research firm said in a statement, today.

There are 18 works packages with eight of them under elevated civil works, another eight for elevated station works and two packages for depot, with these works divided into two categories – open and Bumiputera.

Based on the elevated portion’s estimated value of RM12 billion, each package would work out to RM667 million.

“We think the elevated civil works would be the largest packages, followed by stations and depots.

“With 18 packages for 28 pre-qualified names, the cake appears to be big enough for most to grab a slice, with each standing a 64 per cent chance,” OSK Research said.

In a related development, OSK Research said at this initial juncture, it is still very premature to pick out the potential winners.

However, the research firm said Trans Resources Corporation Sdn Bhd has an edge in the Bumiputera portion for all three categories, given its track record with the Kelana LRT-A extension.

“Fajarbaru Builders Sdn Bhd and Pembinaan Mitrajaya Sdn Bhd could leverage on their stations track record with the LRT-A as well.

“As for the depots, the RM24 million open portion has been awarded to Gadang,” OSK Research said, adding, since contractors like IJM Construction Sdn Bhd, Mudajaya Corporation and MRCB Engineering Sdn Bhd, have all done some work for the existing (non-extension) LRT lines, their track record could come in handy.

The research house said with the tenders to be called in September, it is expected that the first award will be out in December.

— BERNAMA

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