KOTA KEMUNING (Dec 8): Gamuda Bhd group managing director Datuk Lin Yun Ling said he was unaware that the proposed Penang Transport Master Plan's (TMP) original RM27 billion cost had exceeded RM40 billion as reported. 

Gamuda has a 60% stake in SRS Consortium, which is the project delivery partner (PDP) for the TMP. Ideal Property Development Sdn Bhd and Loh Phoy Yen Holdings Sdn Bhd each has a 20% stake in SRS.

Lin said: “The RM40 billion is new to me. As far as we know, it shouldn’t vary too much from the earlier figure." He said this at a press conference in conjunction with Gamuda’s annual general meeting here today.

In July this year, it was reported that SRS confirmed the initial cost of RM27 billion for the TMP had ballooned to an estimated RM46 billion, after additional components were added by Seberang Perai Municipal Council.

SRS project manager Szeto Wai Loong was quoted as saying he was unsure if components such as the Juru and Butterworth-Kulim Expressway intersections would be implemented by the PDP.

Today, Lin said the TMP's detailed environmental impact assessment was being finalised. 

“We think by early next year, the impact assessments will be submitted to the relevant authorities. It is part and parcel of the requirements for the approval," he said.

At 12:30pm, Gamuda shares rose six sen or 1.28% to settle at RM4.76, for a market value of RM11.51 billion. The stock saw 593,800 shares traded.