Damansara Realty in joint bid for Johor-Singapore rapid transit system project

KUALA LUMPUR: Damansara Realty Bhd (DBhd) is teaming up with China State Construction Engineering (M) Sdn Bhd (CSCEM) to tender for the 4km Johor Baru-Singapore Rapid Transit System (RTS) railway project.
DBhd said in a statement that it had signed a memorandum of understanding (MoU) with CSCEM to jointly bid for the project.
RTS is a 4km railway link connecting Bukit Chagar station in Johor Baru to Woodlands in Singapore. It is slated to be completed by end of 2024.
The MOU seeks to lead to a formal partnership between DBhd and CSCEM if the tender is successful and proceeding on to a definitive agreement.
"We are excited to enter this expression of interest to work with CSCEM, the Malaysian arm of one of the world's largest construction companies, on the RTS project," said DBhd group CEO Brian Iskandar Zulkarim.
"This partnership brings to the table a strong value proposition, combining the specialised skills, technical knowledge and experience of both DBhd and CSCEM," he added.
Ranked 24th among Fortune Global 500 enterprises, CSCEC is a China state-owned company specialising in infrastructure development and construction, in particular high-rise buildings, railways, super-large bridges, highways and urban rail transportations.
Aside from property and land development, DBhd's core businesses are in integrated facilities management and project management consultancy, offering services ranging from project planning and development, maintenance and operations, to car park solutions, cashless payment solutions and management of assets.
DBhd's share price gained 2.2% to close at 47.5 sen on some 13,500 shares done.