YTL Corp says HSR contract signing suspended

PETALING JAYA: YTL Corp Bhd announced that the contract signing for the Kuala Lumpur-Singapore High Speed Rail (HSR) project, which was supposed to take place on June 1, has been suspended following the government's decision to scrap the mega rail project.
This came after Gamuda and Malaysia Resources Corp Bhd (MRCB) received the cancellation letters from MyHSR Corp Sdn Bhd.
The southern section of the project was awarded to YTL High Speed Rail Sdn Bhd, a joint venture between YTL Corp's wholly owned unit Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd and TH Properties Sdn Bhd, a wholly-owned subsidiary of Lembaga Tabung Haji.
YTL High Speed Rail, however, received a letter dated May 31, 2018 from MyHSR Corp stating that the signing of the articles of agreements and conditions of contract scheduled on June 1, 2018 will no longer take place.
YTL Corp's shares gained 1.05% to close at 96 sen with 30.44 million shares done.