KUALA LUMPUR: Mass Rapid Transit Corp Sdn Bhd (MRT Corp) has spent about RM4bil on the Klang Valley Mass Rapid Transit (MRT), which has reached progress rate of 28.55%.

CEO Datuk Wira Azhar Abdul Hamid said MRT Corp had raised some RM6.4bil from its sukuk issuance.

In addition, he said MRT Corp has been paying its contractors on time and has pushed its contractors to submit certificate of completion and compliance in order for them to claim payment.

“The contractors are not unhappy. They are paid on time. We have not received one complaint,” Azhar said in an update briefing on the MRT yesterday.

He estimated the cost for construction and systems for the Sungai Buloh-Kajang line project at RM23bil.

Azhar said RM3.1bil was initially expected to be spent for land acquisition cost. However, the Government saved some RM1.5bil as MRT Corp signed mutual agreement to co-exist, without acquiring some properties.

On risk of cost overrun, Azhar said it remained a concern for MRT Corp. “We monitor our risk every day. It is a daily concern for us.”

He noted that its project delivery partner, MMC-Gamuda KVMRT (T) Sdn Bhd, was also responsible for on time delivery and cost.

Azhar said he was satisfied with the progress of the 51km MRT line so far.

“We are on track to begin operation of phase one between Sungai Buloh and Semantan stations by Dec 31, 2016 and the remainder of the line from Semantan to Kajang by July 31, 2017,” he said.
Nevertheless, Azhar said he would like to see better progress of the project to “build enough buffer” in case it encountered any problem in the later stage of the project.

In total, MRT Corp has awarded 68 of the total 86 Klang Valley MRT packages.

Azhar said the remaining 18 packages has a total value of RM2bil, adding that out of the 18, five packages have been called and was currently in progress.

MRT Corp project director Marcus Karakashian said five tunnel-boring machines were currently in operation and has been performing well with good tunnelling rate.

Thx for the new.
A bit curious why don't they use the saved RM1.5bil to speed up the construction from Semantan to Kajang, to meet 31-Dec-16? This way, the MRT can go operational 6 months ahead.

And for doz who wanna invest in another freehold lrt link project. Check out The Establishment@Bangsar this Sat (7 Sat). They also hv 2 completed showroom units at jln riong, off jln maarof, bangsar. The units r sold fully furnished including a queen size bed n mattress n kohler taps for d bathroom. 10% rebate n comes with DIBS, free legal fee for S&P n loan agreement. Btw; I m not the SA for tis project.

Heard from SA only level 2 units are used for the mall. So total 6 levels of mall. Anyway can verify that?

The mall has 2 b well run 4 ur units 2 appreciate. If not well run, then it may make the whole project look shabby. Good malls like tropicana, pavilion, plaza damas, publika n midvalley adds value 2 d residential. D summit and BB Plaza r examples of below average malls which ekocheras should try 2 avoid..

Don't be so fast happy first when ekocheras IF they ever turn to a mall,  Ekovest no experience on mixed integrated project no need  to say more  about managing a mall.
If it turn out like 1 sameling mall will make ekocheras project look worst n the value will be cacated by the mall.
High return come w high risk.
If it become a dead mall ekocheras owners can tahpau already.

Look at leisure mall just across d street. I hv never visited dat mall b4. Any taikors can give views on how dat mall is runned n is it a popular place 4 shoppers?

Don't be so fast happy first when ekocheras IF they ever turn to a mall,  Ekovest no experience on mixed integrated project no need  to say more  about managing a mall.
If it turn out like 1 sameling mall will make ekocheras project look worst n the value will be cacated by the mall.
High return come w high risk.
If it become a dead mall ekocheras owners can tahpau already.

Its all depends on who ekc appointed as mall operator...if they willing to dig deep n appoint well known operator, it wont failed...as its just next to the mall.

Anywhere provided ekc doesnt start selling the retail lots....like timesquare berjaya.....been there once n never step my foot in there again.

Mybenz bro, I agree with you! 

I am always skeptical about mixed development, residential that has more than a few retail units (kindergarten, laundry service, convenient shop, cafe, hair salon).  If not well managed they usually ended up spoiling the whole environment, they are either not tenanted or having businesses that you don't want to be there.

So what kind of businesses that we owner of Ekocheras do not want to see there? Perhaps we can compile a list and present to the management.

1. Snooker & arcade (illegal gambling) centre
2. dodgy massage shops(illegal prostitution)
3.
4.
5.
6.

but a good and reputable massage shop like those reborn or comfort should be ok.

A genuine, clean, professional massage pillar is good. It's so convenient, I will be their customer!