MRCB, George Kent shares fall despite efforts to allay concerns of corruption

PETALING JAYA: Shares of Malaysian Resources Corp Bhd (MRCB) and George Kent (Malaysia) Bhd fell this morning despite efforts to allay public concern over misuse of taxpayers’ money in the Light Rail Transit 3 (LRT3) project.
At 11.15am, MRCB’s share price fell 0.62% or half sen to 80.5 sen with 34.85 million shares traded while George Kent’s share price fell 1.97% or 3 sen to RM1.49 with 3.12 million shares traded. MRCB was one of the most actively traded stocks this morning.
Last Saturday, the MRCB George Kent Joint Venture (MRCBGK) said in statement that it welcomes investigations into the LRT3 on corruption and financial mismanagement. The JV was appointed as the project delivery partner of LRT3 on Sept 4, 2015.
It said that it has been cooperating closely with the present administration, particularly the Finance Ministry, in reducing the cost of the project.
“MRCBGK has always emphasised integrity in our dealings with all parties including clients, partners and contractors and has a zero-tolerance policy on corruption,” it said.