Indie PD candidate says MRT 2 contract cancellation could affect investor confidence – Nation

Indie PD candidate says MRT 2 contract cancellation could affect investor confidence - Nation
PORT DICKSON: Independent candidate in the Port Dickson by-election Kan Chee Yuen says the government should review its decision to terminate the MMC-Gamuda KVMRT (T) Sdn Bhd’s contract to build the underground portion of the Mass Rapid Transit (MRT) Line 2.

Kan said he had no problem with the Finance’s Ministry’s decision to review the contract as a means to cut cost but was concern about how it was being done.

“I’m concern about the unseen cost, not just the money loss, but also the technology, innovation and improvement loss,” he told a press conference here.

Kan’s comment came, following reports that the Finance Ministry’s termination of MMC-Gamuda KVMRT contract would result in over 20,000 job losses from a supply chain involving over 600 Malaysian companies.

Finance Minister Lim Guan Eng said all unfinished underground work at MRT2 would be re-tendered via an international open tender process.

“The approach must be done in a professional way,” Kan stressed.

“It should not just about cost cutting but instead focus on cost optimisation. The company hired local people, talents, engineers. There is a high possibility that young people who have high expertise from Port Dickson who are working in KL might also be affected,” he added.

Kan said the announcement could affect investor confidence and send the wrong signal to international investors and the business community.

“Foreign investors will say that if you guys keep changing your policies, what will happen to the confidence level?

“That is why our ringgit will continue to depreciate,” he said.

Kan said local companies operating in Port Dickson might also be affected.

“Out of the supply chain, I was told that 10 of the businesses are from PD.

“These are businesses, and not individuals. We are not sure how many engineers working there are from PD. Imagine the local companies now losing employment, as well as business opportunities,” he said.

The Port Dickson by-election will see a seven-cornered fight between Pakatan Harapan, PAS and five other independent candidates.

Visit original news source


Please enter your comment!
Please enter your name here