George Kent: No indication on LRT contract (3204)

George Kent (M) Bhd has not received any indication on the award of the RM960 million Ampang light rail transit (LRT) line extension contract, said chairman Tan Sri Tan Kay Hock.

"It may come to us or it may not," he said.

"Let's wait for the government because it has not been awarded," he told reporters after the company's annual general meeting in Kuala Lumpur today.

The George Kent consortium consists of China Railway Construction Corp and Tewet GmbH, a project consultant firm.

The tender for the LRT extension project closed on June 16 last year.

Other than George Kent consortium, the other bidders were Invensys-Balfour Beatty Rail-Ingress consortium, Posco-Sojitz-Daewoo International-Thales group, Colas-CMC Engineering-Thales, Samsung-LG-Thales, SNC Lavalin-WW Engineering-Bombardier, Siemens-Scomi Engineering and Ansaldo-Emrail-Leighton.

For the financial year ended Jan 31 2012, George Kent's pre-tax profit declined to RM26.2 million from RM32.4 million in the same period of 2011 due to lower gross profit margin for manufactured products.

Its revenue fell to RM152.2 million from RM165 million previously.

"The lower revenue was due to lower demand of their products and services for exports as a result of the global economic slowdown and lower revenue from projects," it said. -- BERNAMA

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